Chinese football has entered a financial crisis that has taken on the greatest proportions in the last 12 months. 16 clubs from the country's three major football divisions have already declared bankruptcy, closed down or been relocated to the country's newest divisions, all due to the impact of COVID-19 on the coffers of large club-financing companies.
To get an idea of the situation, the current Chinese SuperLeague champion Jiangsu FC (former team of Miranda and Alex Teixeira) has decided to close the club and has been banned from the national league due to a debt of around R $535 million. This is because its major shareholder, Suning, has been falling into disrepair since the beginning of the pandemic.
Chinese clubs also suffer exclusion from international competitions such as the Asia Champions League. Countless foreign players tend to be available on the market after they stop receiving astronomical salaries, and many Chinese players may also be unemployed in sports because the visibility of football is low for the international market.
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Content created and supplied by: Richmond20 (via Opera News )