SBD Global/June 19, 2017/Finance

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  • Chinese Super League Club Guangzhou Evergrande To Stand Pat

    Chinese Super League side Guangzhou Evergrande has "no plans to make any additions" to its squad in the mid-season transfer window, which looks set to open on Monday "in an air of uncertainty because of proposed new regulations," according to Michael Church of REUTERS. Estimates of spending by CSL clubs in the last transfer window "range up" to $500M. A regulation change that "restricted the use of foreign players in domestic matches followed immediately," as the Chinese authorities looked to "stem the flood of money leaving the country in transfer fees and wages." Guangzhou's reason for not adding to a squad coached by Luiz Felipe Scolari which already includes Brazilian Paulinho and Colombian Jackson Martinez is "rather simpler -- they are doing well enough as it is." Club VP Liu Yongzhuo said, "We have reached all of the goals we set at the start of the season, so we are happy." The transfer levy proposed by the CFA to the 32 clubs in China's top two divisions, "which is expected to be ratified on the eve of the transfer window opening, will also have an impact." Under the proposal, foreign signings costing more than 45M yuan ($6.6M) and fees for Chinese players of more than 20M yuan ($2.9M) "would attract a levy" for clubs whose '16 accounts "show them to be in debt." Oceans Sports & Entertainment CEO Shoto Zhu said he thought that "while the levy might deflate the China spending bubble in the short term, it would not burst it." He said, "I don't think these regulations will last long, but I think for this window clubs won't spend much money. In China what happens when you have new regulations is that people try to find ways around them and I'm looking forward to seeing how they do that" (REUTERS, 6/17).

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