Tuesday, 20 June 2017

China puts 100% tax on foreign stars in bid for World Cup glory



China has imposed a new "100% tax" on transfer fees for foreign footballers - signalling a possible end to big money signings.
 
Under the new rules, loss-making clubs will have to pay the same amount again into a domestic development fund, effectively doubling the cost of importing talent from abroad.


The Chinese Football Association (CFA) says the money will be used to train young players, and warned Super League clubs to "consider the healthy development of Chinese football" and "invest rationally".


The move is thought to be an attempt to tackle the fashion for multi-million pound signings of foreign players in recent years, and the perception that the country's football spending was spiralling out of control.


Carlos Tevez moved to Shanghai Shenhua on a reported £71.6m deal in December, with Chelsea's Oscar signing for rivals Shanghai SIPG for an estimated £52m.


"There's a lot of money, excessive money, being spent on these foreign imports," Mark Dreyer, founder of China Sports Insider, explained.


"It's not really helping Chinese football, so the intention is to stop that extraordinary spending.


"The intentions behind the rules are pretty good, and pretty honourable, it's just the way that they have been implemented is going to cause a lot of problems that could have been foreseen."


He said clubs were already finding ways around an existing rule, requiring them to start at least one Chinese under-23 player every match, by substituting them after a few minutes, and would likely take the same approach to the new regulations.




SKY       News.