Club spent US$310 mil over 3 years 'to buy stars and pay high salaries'. FMTNews China Football
SHANGHAI: Tianjin Tianhai’s demise this week highlights “fatal flaws” in the financial models of Chinese football clubs and should serve as a warning to other teams, state media said.
It was then called Tianjin Quanjian but the founder of the Quanjian Group was arrested in January last year and subsequently jailed, and the club thrust into the hands of the local football association. The swift downfall of Tianjin, who finished third in the Chinese Super League in 2017, shows that Chinese football needs to focus on long-term sustainability, Xinhua news agency said in a strongly worded editorial.“The tragedy of Tianhai is enough to warn many other professional football clubs in China,” said Xinhua.
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