Diego Costa can surely forget China move after shock new 100 per cent ‘tax’ doubles price of foreign stars and likely bursts football bubble
Clubs will now have to pay the same amount they spend on overseas stars into a player development fund
Chinese football’s transfer boom looks over after the China Football Association announced a shock new ‘tax’ on foreign players – meaning Diego Costa’s mooted big-money move from Chelsea is surely dead in the water.
Under the new rule, peremptorily announced on the CFA website late on Wednesday night, “loss-making” clubs will have to pay the same amount they spend on signing an overseas player into a player development fund.
Since all Chinese Super League clubs are believed to be loss-making, the rule effectively doubles the price for foreign players.
“In order to limit professional clubs from pursuing short-term results, blindly trying to match [each other’s] high-priced signings, and behaviour driving up prices, to maintain market order, and promote the healthy and stable development of professional football, [we have] decided: from the 2017 summer transfer window, loss-making clubs will be charged an adjustment fee for foreign signings,” read the announcement.
“Clubs signing players through capital expenditure will be charged the same amount, with the full sum going to the Chinese Football Development Foundation, to train young players, promote social football and soccer charity activities.”