HONG KONG — Chinese football authorities have announced major curbs on spending by clubs ahead of the 2020 season that include a cap on foreign and domestic players' salaries as they seek to stave off financial ruin. Overseas recruits to the Chinese Super League in the upcoming winter transfer window will be limited to earning 3 million euro ($3.3 million) after tax, the first time a salary cap has been implemented in the Chinese Super League in more than a decade. Additionally, a ceiling of 10 million yuan ($1.4 million) has been placed on Chinese players' salaries. Clubs will also not be permitted to spend more than 1.1 billion yuan on their operations throughout the upcoming campaign, with salaries not to exceed 60% of that amount.

Source: International New York Times December 26, 2019 07:07 UTC