China paying out millions to find a winning coach
As CFA spends millions to get rid of another failed coach, pundits warn team are set to remain underachievers unless big changes are made
China is set to spend millions to replace sacked national coach Jose Antonio Camacho, but pundits say the team will remain underachievers while business titans run the top clubs and parents refuse to let the sport distract their only children from school studies.
The former Spain and Real Madrid coach was dismissed last week following a 5-1 defeat at home to a second-string Thailand side, a humiliating result that sparked unruly scenes from spectators and ridicule online from long-suffering Chinese soccer fans.
Camacho was reported to have signed an US$8 million-a-year contract, putting him among the world's top 10 best-paid managers, when he arrived in 2011.
The Chinese Football Association (CFA) is to shell out €6.45 million (HK$65 million) to Camacho for ending his three-year contract 18 months early. The CFA had originally hoped to pay just €3 million to the Spaniard.
The CFA is also facing a hefty income tax bill of 25 million yuan (HK$31.6 million) for the compensation, which is equivalent to 18 months in salary, mainland sports newspaper Titan Sports reported yesterday.
The CFA has suffered large financial losses paying foreign employees in the past. Dutchman Jan Olde Riekerink was removed from his position as coach of the national youth team in November, but will continue to receive a CFA salary until the end of 2016, when his contract ends, according to the Global Times.