Home » Evergrande Football: High-paid head coach Cannavaro cancels his contract early in crisis-BBC News

Evergrande Football: High-paid head coach Cannavaro cancels his contract early in crisis-BBC News

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Guangzhou Football Club, a subsidiary of China Evergrande Group, announced that it had negotiated with the Italian head coach Fabio Cannavaro (Fabio Cannavaro) to terminate the contract. The Italian announced that he had left the club and won eight Chinese Super League championships. The two-time AFC Champions League champion team.

Guangzhou Football Club (formerly known as Guangzhou Evergrande Football Club) issued an announcement on Tuesday (September 28) stating that Cannavaro will terminate the contract with Cannavaro through friendly negotiation.

Due to Cannavaro’s high salary and liquidated damages, this development is seen by the outside world as an aspect of Evergrande’s debt crisis. It has been reported that the most successful Chinese Super League club in the past decade is facing Financial crisis, there are even reports that the team may withdraw from the Super League in the second half of the year.

The 48-year-old Cannavaro’s annual salary for the Guangzhou team is reported to be as high as 11 million euros, and the contract has a huge liquidated damage clause. The contract between Cannavaro and Evergrande originally expired at the end of 2022.

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