CHINA has announced a government crackdown on spending after another wave of eye-watering transfers.
Chinese Super League clubs were accused of “burning money” after Shanghai SIPG smashed the Asian transfer record to land £60million for Oscar.
Cross-city rivals Shenhua also made Carlos Tevez the highest paid footballer on the planet with a staggering two-year deal netting him£63,960,000.
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Ex-Chelsea playmaker Oscar is on £400,000-a-week – putting him in the top three worldwide.
An unnamed spokesman said the government would “regulate and restrain high-priced signings, and make reasonable restrictions on players’ high incomes”.
State-backed CSL clubs broke the Asian transfer record four times last year after President Xi Jinping announced his ambition to make the country a footballing superpower.
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The spokesman transfer fees and wages would be capped to limit“irrational investment”.
He added: “We must take building hundred-year clubs as the goal. We will remove the seriously insolvent clubs from the professional league.”
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Last month the Chinese FA announced that it will reduce the number of overseas players allowed on from five to four to attempt to develop local talent.
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