HONG KONG: Chinese football authorities have announced major curbs on spending by clubs ahead of the 2020 season that include a cap on foreign and domestic players' salaries as they seek to stave off financial ruin.
"Our clubs had too much money burned and our professional football has not been run in a sustainable way," Chinese Football Association chairman Chen Xuyuan said, according to state news agency Xinhua.The new rules were confirmed after a meeting of the Chinese Football Association on Wednesday and do not extend to bonuses that can be paid, which could give clubs some flexibility to pursue star signings.
Later that year, a 100 per cent levy was placed on transfers valued at over 45 million yuan involving foreign players while the same condition was imposed on domestic moves worth more than 20 million yuan.
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