Several years ago, investing in football was a hobby for Vietnamese businessmen. Names like Mr. Thang, chairman of Dong Tam FC, Mr. Duc of Hoang Anh Gia Lai FC and Mr. Long of Hoa Phat Hanoi FC have been very popular. Football was regarded as a good way to market their companies and products.
The year 2001 was viewed as the golden age of Vietnam’s football, when many football clubs which were sponsored by super-rich entrepreneurs were set up. Sponsors paid millions of dollars to buy foreign players and to pay bonuses to their players.
But the race among football investors has been weakening since 2005. In early September 2011, Hoa Phat Group unexpectedly announced to stop funding their Hoa Phat Hanoi Football Club.
On 8 September 2011, Hanoi ACB FC’s chairman, Nguyen Duc Kien, publically criticise the Vietnam Football Federation (VFF) and pointed out problems in football business, including corruption related to referees.
Kien said investing several millions of dollars in football is not much, but football is bleeding him and other investors dry. His family and friends have advised him to stop his investment in football.
“After Hoa Phat Group disbanded Hoa Phat Hanoi, I’m seriously considering leaving the Hanoi ACB. The investors of four other clubs are also thinking the way I do,” Kien added.
Doan Nguyen Duc, the chairman of Hoang Anh Gia Lai Group and Hoang Anh Gia Lai FC, said that Vietnam’s football is lagging behind. Several years ago, fans had to queue for several hours and had to pay a lot of money to buy tickets for games between leading clubs like Hoang Anh Gia Lai, Dong Tam Long An, Hanoi ACB, Hoa Phat Hanoi among others.
But now all stadiums are quiet.
Duc did not deny the spiritual value created by football but economically, he said that investing in football is a great loss for investors. He said in 2001, investors spent around VND40 billion (USD 1.9 million) a year for a football club. But at that time, stadiums were always crowded.
The investment is now VND80 billion (USD 3.8 million) but stadiums are out of fans.
Vietnam have 14 football clubs in the top flight and the total investment in these teams is up to several thousands of billion dong (dozens of millions dollars). However, the role of investors at football tournament is very weak.
Duc said he does not say goodbye to football because he has a great passion for this sport and the love for football of people in his hometown – Gia Lai province. “In a poor province like Gia Lai, football is spiritual food,” he said.
The chairman of Dong Tam Long An, Vo Quoc Thang, said he has invested in football for nearly ten years and he has never earned profit from the sport.
He said it is a big problem when so many companies compete to invest in football. This is a great waste of money, which make football unhealthy while Vietnam are still poor.
“If the situation is not improved, I will cut down investment in football though this move may make Dong Tam Long An to be ousted from the V-League. We need a healthy football environment,” Thang quipped.
He said he has been to many countries and foreigners could not believe that a poor country like Vietnam pumped huge sums of money into football and clubs paid a lot of money to footballers.
The Ministry of Public Security said that they are set to investigate a charge by Hanoi ACB club chairman, that some referees offered wins to any team willing to pay them VND500 million (USD 24,400).
Nguyen Duc Kien had said this at a conference held in Hanoi on 8 September 2011, to review last season which ended amid charges of corruption by referees.
SOURCE: Vietnam.bridge
