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Friday, 6 January 2017

Why are China spending so much?

The Chinese president Xi Jinping wants China to host a World Cup and to eventually win the World Cup one day. The only time they have made it there was in 2002 when they played 3 games in the group stages against Costa Rica (lost 2-0), Brazil (lost 4-0) and Turkey (lost 3-0).

The national side is ranked 93rd in the official FIFA rankings so there is a long way to go to realise the president's dream. However, his desire has prompted a flood of money into the countries Super League.

It isn't all about football, the money business magnates are pouring in also has political implications, The

Xi’s stated ambitions have been seized on by Chinese business magnates, who openly acknowledge that their footballing investments also have political calculations. Chinese administration of sports has made several appeals for business owners to support the Chinese Super League and the president's ambitions.

Business owners spending money is simply designed to please the president suggests Rowan Simons, an author and prominent commentator on Chinese football. he also suggest clubs are too inexperienced to negotiate with player agents and clubs, thus are paying inflated fees.

Wanda Group, owned by Chinese billionaire Wang Jianlin, has taken a 20 percent stake in Spanish side Atletico Madrid.

Late last year, state-backed investment firm China Media Capital was part of a consortium that bought a $400 million stake in Premier League giants Manchester City.

The object now you would assume is to boost the appeal of football in China and then invest heavily in youth football and player development, otherwise the presiden's dream has no chance of success.


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