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Showing posts with the label Guangzhou Evergrande

China's long march into football encounters challenges

Football is often seen as a form of geopolitical soft power.  Saudi Arabia, Qatar and other Gulf states certainly think that way.  But China’s long march into football has been less successful and has been affected by wider challenges in the PRC’s economy. Guangzhou FC, once China’s leading professional football club and a symbol of the country’s aspirations in the sport, has been dropped from the national league after a drawn-out saga related to the collapse of property developer China Evergrande, which bought the team in 2010. The club — which won eight national league titles from 2011-2019, topped Asia’s Champions League twice and drew in names such as Brazil’s Robinho and Italian coach Marcello Lippi — failed to meet financial entry requirements. In a statement that referred to Guangzhou and two other ineligible clubs — the Cangzhou Mighty Lions and the Hunan Billows — the Chinese Football Association cited wage arrears and debt issues. Guangzhou’s ineligibility is t...

Soft power football in China

Perhaps the biggest 'surprise' in the new Soccerex rankings came in the fourth place ranking of Guangzhou Evergrande, the Chinese Super League (CSL)’s most successful club who boast the financial backing of both the Evergrande Real Estate Group and e-commerce behemoth, the Alibaba Group. While some may not have expected a Chinese club to feature so highly, this really should not come as a surprise given they once achieved a market value of £2.5 billion on China’s National Equities Exchange and Quotations, putting them ahead of Real Madrid and Manchester United. Evergrande have dominated Chinese football since they first invested in the club, winning the CSL for seven consecutive seasons and the AFC Champions League in 2013 and 2015. While they are undoubtedly the standard bearer for the league, they are not alone in representing China within the Soccerex Football Finance 100, with a further eight clubs appearing in the rankings making it the fourth most featured nation ahead o...