How the Chinese Super League bubble burst: The £500k-a-week wages have gone, the champions have been WOUND UP and the stars are disappearing... but why is it causing Inter fans to panic?

  • The Chinese Super League was rocked this weekend by news from Jiangsu FC 
  • The top flight's reigning champions are set to fold, their owners announced  
  • The decision has ramifications, not just in Asia, but in Europe's big leagues, too 

The Chinese Super League was thrown into turmoil over the weekend with the announcement that reigning champions Jiangsu FC are set to fold. 

It is a major blow for a competition that has strived to make up ground on Europe's top divisions with heavy investment over the past five years.

Here, Sportsmail looks at why this has happened, and the ramifications for China's top-flight and further afield. 


 

So, what's happened? 

Jiangsu FC, the reigning Chinese Super League champions, have folded just three months on from lifting the title. 

They had beaten Guangzhou Evergrande 2-1 over two legs in November to clinch the trophy.

However, the club's parent company - Chinese retail giants Suning - released a statement last week confirming their decision to cease all operations for Jiangsu FC - both the men's and women's outfits.  

'Even though we are reluctant to part with the players who have won us the highest honours, and fans who have shared solidarity with the club, we have to regretfully make an announcement,' the statement said.

'From today, Jiangsu Football Club ceases the operation of its teams.' 

Jiangsu FC have folded less than four months after lifting the Chinese Super League title

Jiangsu FC have folded less than four months after lifting the Chinese Super League title

That doesn't sound good, why?  

Put simply, the attitude and priorities of owners Suning have changed.

This is a club who once beat Liverpool to the £26million signing of Alex Teixeira from Shakhtar Donetsk and who in the summer of 2019 appeared on the cusp of agreeing a mega-deal for Gareth Bale. That level of investment in the sport is no longer of interest to them.

Suning revealed in the statement that they had been seeking external investment to help keep the teams going. 

'In the past six months the club has been looking around to seek a takeover,' they admitted. No suitors have been forthcoming. 

Folding the club had been on the cards, too. 

Zhang Jindong, the company's president, had stated earlier this month that they would be shutting down all non-retails aspects of their business in a bid to focus their energy into what they are good at.

And so, unless an eleventh-hour saviour appears - which is extremely unlikely in the current climate of a global pandemic and governmental disinterest in football - the club will be no more.  

Brazilian Alex Teixeira is just one of the big names who could now be looking for a new club

Brazilian Alex Teixeira is just one of the big names who could now be looking for a new club

Hang on, isn't that the same company that own Inter? 

It is indeed, although the Serie A giants have been assured that events in China will not be repeated in Italy.

Inter are currently four points clear at the top, and en route to their first scudetto in 10 years, since Jose Mourinho led them to the treble. 

However, despite attempts at calming any nerves, there are warning signs that all is not well for the San Siro outfit. 

Suning have also been looking for external investment to help them with Inter's giant wage bill, but so far there has been no interest. 

They are not the only Chinese investors struggling on the European stage, with West Brom owner Lai Guochuan leaving West Brom with little financial backing against the spectre of relegation this term, and Fosun scaling back stadium plans at Wolves.  

Inter have been assured that Suning's decision to fold the Chinese club does not affect them

Inter have been assured that Suning's decision to fold the Chinese club does not affect them

At least this is a one off though, right?

Not exactly. A change in the Chinese government's attitude towards football and the money being ploughed into it has brought financial implications for a lot of clubs.

Before the CSL season got underway last May, Tianjin Quanjiang, once home to Alexandre Pato and Axel Witsel, were declared bankrupt. Their local rivals Tianjin Tigers are expected to follow suit this year. 

Shandong Luneng have been banned from the Asian Champions League over their debt issues - with unspecified 'overdue payables' being given as the reason behind their expulsion. 

Financially things are bleak. The Chinese Football Association had to extend the deadline for clubs to provide confirmation of payment to players for the 2020 season in January, giving clubs an extra month to come up with the documentation.

Incredibly, 11 teams were disqualified from China's professional leagues last season for financial reasons, while another five withdrew of their own accord.  

But wasn't the CSL flush with cash? 

 It was, and that seems to be the problem. 

Years of overspending on enticing big names from Europe and South America with eye-popping wage packets for ludicrous fees has finally caught up with clubs.

Carlos Tevez was earning £34million a year when he joined Shanghai Shenua, the prime example of the excess China was willing to splurge to get some of the world's biggest names into Asia.

In fact, in 2017, six of the world's top ten highest paid players were plying their trade in the CSL, with Ezequiel Lavezzi, Oscar, Hulk, Gervinho and Axel Witsel joining the Argentinean on the list. 

However, the Chinese government grew impatient with clubs relying on the cash from their owners and a lack of genuine attempt to grow roots in their local areas and engage with fanbases.

Carlos Tevez became the highest paid player in the world when moved to China back in 2017

Carlos Tevez became the highest paid player in the world when moved to China back in 2017

The average attendance during the 2019 season - the last to be unaffected by Covid-19 - saw an average attendance of just 24,076. One match saw just 2,634 attend. 

Compare that with the Premier League's average of just over 39,000 for the 2019-20 season and it is clear the same interest does not prevail. 

In an order to curb the reliance on wealthy owners, the Chinese FA sanctioned changes that prevented owners from putting their brand into club names any longer.

For obvious reasons, that has seen a lot of owners go cold on their investments.  

So what happens to the big names now? 

Some have already made a dash for the exit. The line of players leaving China has been steady over the past couple of years.

Carlos Tevez gave up his mammoth contract to return to Boca Juniors, while Axel Witsel is back with Borussia Dortmund in Germany. 

Rafa Benitez saw out just 18 months of his three-year deal with Dalian Yifang, and Salomon Rondon has also now left the club on loan.

Rafa Benitez made the decision to leave Dalian Yifang earlier this year and return to Europe

Rafa Benitez made the decision to leave Dalian Yifang earlier this year and return to Europe

With the government's interest in football waning as it cracks down, the country is no longer the lucrative prospect it once was, and so the days of mega-money imports such as Oscar and Ramires appear over. 

It remains to be seen how quickly these players will be shipped back out, however. 

While Brazilian Alex Teixeira may find it easier to move without a club after Jiangsu's collapse, clubs across the globe will struggle to get near the wages offered to these players, or even source a transfer fee, due to the financial strain caused by the ongoing pandemic. 

The likes of Oscar could also be looking for a way out, should funding continue to dwindle

The likes of Oscar could also be looking for a way out, should funding continue to dwindle 

The comments below have been moderated in advance.

The views expressed in the contents above are those of our users and do not necessarily reflect the views of MailOnline.

We are no longer accepting comments on this article.