Chinese Football Association (CFA) has announced plans to slow rampant spending by forcing teams to pay double for any new signings.
The spending of some of the rich Chinese Super League teams previously has encouraged the country’s governing body to step in to help ensure long-term stable development.
“Clubs that spend less than €5.9m on foreign players or €2.6m on domestic signings leverage fee in the summer transfer window of 2017 will not be subjected to a player-transfer leverage fee,” read a statement which was quoted by Goal China.
“However, those clubs need to pay an equivalent amount of their spending into a special account, which will be opened to develop their own youth academy. A plan will be submitted to the CFA to ensure that the funds are used exclusively for its designated purpose.
“Clubs that spend more than spending restrictions rule will have to pay an equivalent amount into the ‘Chinese Football Development Fund’, which is established to support the development of young players, the promotion of grassroots football and charitable infrastructures, and the nation’s strategy on revitalization of football.
“If clubs sign players on loan from foreign clubs, and the loan fee is less than the transfer fee paid initially by the parent club, they will also be required to pay the leverage fee based on the earlier transfer fee.”
The likes of Carlos Tevez, Oscar and Axel Witsel are among the star players who were lured to CSL in big-money deal.