China’s top sports administrator has vowed to cap spending by football clubs, accusing them of burning money and paying excessive wages to foreign players.
The General Administration of Sport of China made the pledge after several signings during the winter transfer window smashed already high records.
Among the deals, Shanghai SIPG bought Brazilian midfielder Oscar from Chelsea for $63m, and Shanghai Greenland Shenhua, a local rival, signed a two-year contract with Argentine striker Carlos Tevez reported to be worth more than $20m per season.
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