Chinese Super League: 10 clubs say debts are cleared after threat of ban
Last updated on .From the section Football
Ten Chinese Super League clubs say they have cleared debts, after 13 of them were threatened with a ban next season.
The Chinese Football Association (CFA) wrote to all but three of the country's 16 top-flight clubs, as well as five lower-league teams.
The CFA claimed the clubs had outstanding debts on player transfers, salaries or bonuses.
Shanghai Shenhua, who signed Carlos Tevez in January, and Oscar's Shanghai SIPG say their debts are now cleared.
The CFA's letter follows a similar move by the Asian Football Confederation (AFC), which wrote to the CFA on 11 July stating that clubs had until 31 August to clear all outstanding payments or face exclusion from next year's Asian Champions League.
Shanghai SIPG, who paid £60m for Brazil midfielder Oscar in January, have said they paid the fees mentioned by the AFC in October last year.
"Our club does not have any back fee problem on salary, bonuses and player transfer," SIPG said.
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Jiangsu Suning, Shandong Luneng and Beijing Guoan issued similar statements.
Guangzhou Evergrande, two-time winners of the Asian Champions League, said two of the payments involved were settled in December and January.
Shanghai Shenhua, who signed Argentine striker Tevez for a reported £40m in December, said they had paid 90% of the fees highlighted by the AFC but the rest was not settled because the other sides had never supplied bank account numbers.
Chinese football authorities have sought to crack down on spending, with new regulations put in place that mean loss-making clubs are hit with a 100% tax on signing players from overseas, effectively doubling transfer fees.
The CFA has also reduced the number of overseas players permitted in matchday squads.
That's why it won't until the clubs rip themselves apart instead at the rate they are going
Why should football be any different?
...said no-one ever
Something " Wong here " evidence my dear Watson !!
Creative accounting perhaps ?
As you were.