New trigger-happy Chinese owners spark fears in European football

BEIJING — European clubs Inter Milan and Aston Villa have had a high turnover of managers since Chinese takeovers, sparking fears that their trigger-happy new owners have little patience and no strategy.

“Many buyouts are irrational and defy the laws of the market,” said Zhou Jiming, a Chinese football analyst. “The majority of investors lack patience.” That certainly appears to be the case with Aston Villa, currently under their third manager, after a takeover by Chinese businessman Tony Xia last June.

Xia spent €38 million (S$58 million) to hire Roberto Di Matteo in a bid to lift Villa’s flagging fortunes. But Di Matteo was sacked after just 11 games and replaced by Steve Bruce.

Meanwhile Inter Milan, who are owned by Chinese electronics retailer Suning, in November named Stefano Pioli as their third manager in just four months.

Even as China’s willingness to splash out on foreign talent has drawn top managers such as Manuel Pellegrini (Hebei Fortune), Andre Villas-Boas (Shanghai SIPG) and Sven-Goran Eriksson (Shenzhen FC) to the country, many have not made it past a few months.

Eriksson was ousted from Shanghai SIPG despite leading them to a third-place finish in the 2016 Chinese Super League, Fabio Cannavaro was dismissed from Guangzhou Evergrande just six months into the job, while Jean Tigana was sacked by Shanghai Shenhua in 2012 after only five games in charge.

Chinese investors in football would do well to learn from Vichai Srivaddhanaprabha, the Thai owner of English champions Leicester City, said analyst Zhou.

“He has done a lot of substantive, solid basic work ... Chinese investors lack this kind of involvement,” he said.

Srivaddhanaprabha, a shopping magnate, bought the club in 2010 before leading the minnows to Premier League glory last year.

According to Peter Kenyon, former chief executive of Manchester United and Chelsea, “the smart people understand it’s not about acquisition, it’s ... what you do with it (afterwards)”.

Some Chinese owners have proven to be patient: West Bromwich Albion, bought in September by entrepreneur Lai Guochuan, retained its manager; as did French side Auxerre, following a takeover by China’s ORG Packaging in October.

Chinese President Xi Jinping, a football fan, wants the country to host and win a World Cup, a target which has prompted a flood of money into top-flight teams as well as heavy investment and promotion of the sport nationally.

Chinese Super League clubs, encouraged by the government’s vision of turning China into a football superpower by 2050, have broken the Asian transfer record five times in less than a year, with Shanghai SIPG paying €60 million to sign Brazilian midfielder Oscar from Chelsea.

The push to buy European clubs is part of a larger drive to secure China’s place in the global football arena, a quest with heavy political overtones.

“Sport gives you huge visibility, so if it’s successful it reflects well on them, and well on the country,” Kenyon said. AFP