Bankruptcy Hit Chinese Super League Clubs, As Mass Exodus Of Players Looms |The Source

By Akinwale Kasali

Time was when the Chinese Super League was the destination for football Superstars across Europe and the world.

Reason for this was the juicy deals and money splashed on international, talented and renowned players to help develope the once obscure league.

Chinese investors, including the Chinese Government, gave leverages for Groups and Organizations to delve into the money spinning football investment.

The Chinese Super League became the destination and a Mecca of sort for players.

The likes of Hulk, Fredy Guarin, Axel Witsel, Cedric Bakambu, Gael Kakuta, Obafemi Martins, Carlos Tevez, Oscar Santos, Marouane Felliani, Graziano Pelle to mention a few, all joined the Chinese League train, to make more money than they were earning in their European Club Side.

Just like former Arsenal Manager, Arsene Wenger predicted when interviewed whether he would join the bandwagon of Coaches like Rafael Benitez, Fabio Capello, Fabio Canavarro and the likes that have secured money spinning deals in China, he said: “It is easier to join the fray, but can the Chinese Super League sustain itself with the outrageous amount being splashed on players and the development of their Leagues?

This question asked by Wenger has been a major issue in the Asian Country, as the League has been halted, with Clind indebted and are unable to wages of players.

Last week, Sunday, 28th February, 2021, Chiinese football was thrown into disarray as the owners of reigning Chinese Super League champions, Jiangsu Suning Football Club, announced the club would cease operations with immediate effect.

A post on Jiangsu’s official WeChat account expressed hope of new backers or that a “company of insight” would be willing to consult on the team’s future.

The announcement stated all of owners Suning Group’s football clubs, including the hugely successful Jiangsu Suning Women, would “cease operations from today”.

The Nanjing-based retailer, one of China’s biggest and which also owns Italian Serie A club side,  Inter Milan, earlier in February said it intended to focus on core businesses, leaving non-retail assets at risk.

These assets include Jiangsu Suning FC, which won the Chinese Super League title in November for the first time with a playoff win over eight-time champions Guangzhou Evergrande.

That victory was the pinnacle of a run by a once cashed-up club previously coached by ex-England manager Fabio Capello, and which in the summer of 2019 attempted to sign Gareth Bale, formerly the world’s most expensive player, from Real Madrid.

The squad that clinched the title and a place in this year’s Asian Champions League featured Brazilian winger Alex Teixeira, who chose to make a 50 million euro ($60.37m) switch to Jiangsu in 2016 over interest from Premier League side Liverpool.

When Teixeira refused to sign a new contract at the end of last season and with coach Cosmin Olaroiu reported to be unlikely to return to the club, questions started to be asked of Jiangsu’s financial future and the knock-on impact on football in China.

The Jiangsu announcement comes days after Chinese FA Cup winners Shandong Luneng Football Club, which has former  Manchester United Football Club midfielder, Marouane Felliani in its fold, had their expulsion from the Asian Champions League confirmed by the Asian Football Confederation due to “overdue payables”.

Should Jiangsu fail to find new owners soon, their absence could cause further upheaval in the Asian Champions League ahead of the start of the continental competition in April.

Retailer Suning.com, also part of the Suning Group, said shareholders plan to sell 20% to 25% of the company to unnamed buyers, which might lead to a change in control as the Suning Group seeks to raise cash.

The Covid-19 Pandemic outbreak ravaging the world was a major setback for the League and sponsorship. May companies pulled out of the sponsorship deals with some Clubside, making them unable to pay wages and meet the Club’s needs and commitments.

It was also revealed that individual Chinese Super League clubs owe hundreds of millions of wages far more than the Chinese Football Association estimates.

The Chinese Football Association (including the professional league preparatory group and the Chinese Super League) on January 28, the eve of the submission of the “confirmation form” deadline, urgently distributed an average of 7 million last season dividends to 16 Chinese Super League clubs.

According to people familiar with the matter, distributing the “life-saving money” totaling more than 100 million yuan, first took a certain risk; secondly, when the league sponsor’s money was not in place, the Super League company poured out. In particular, the intention to “rescue the market” is very obvious.

The Chinese Football Association has found out, and the financial situation of clubs at all levels is generally not optimistic. Individual Chinese Super League clubs have reported that the salary arrears for the 2020 season is as high as hundreds of millions of yuan, far exceeding the estimation of the Chinese Football Association, and probably beyond the expectation of Chairman of the League, Chen Xuyuan.

This further explains why Shanghai Shenhua Football Club of China decided to let go off Nigerian international, Odion Jude Ighalo, who recently signed for Al Shabab Football Club in the Saudi Arabian League, after his loan deal with Manchester United Football Club ended.

A lot of players in the Chinese League are however leaving enmasse, with some joining the Japanese Football League, South Korean League, Qatari League, Saudi Arabia League, Kuwait League and other Asian Club Side.