China to limit clubs' wild spending
China will put limits on the wild sums its clubs are spending on foreign footballers, authorities said yesterday, after a recent spate of big-money transfers to the Chinese Super League.
In an interview posted by the General Administration of Sport, an unnamed spokesman said the government would "regulate and restrain high-priced signings, and make reasonable restrictions on players' high incomes".
It would also consider measures such as taking fees from clubs that spend excessively to support youth development programmes.
The statement came just days after Shanghai SIPG recruited Brazilian star Oscar from Chelsea in an Asian record fee of £51 million (S$90m).
He is set to make more than £20.4m a season - more than Real Madrid's Cristiano Ronaldo and Lionel Messi of Barcelona.
Rival Chinese Super League club Shanghai Shenhua also forked out a reported £8.9m to land Argentinian Carlos Tevez, who is set to become the world's highest-paid player, with a two-year contract worth £32.3m per season.
Last year, Chinese teams broke the Asian transfer record four times in an acquisition spree that outstripped even the mega-rich English Premier League. - AFP