Critical Issues and Innovative Ideas of the Equity Structural Reform of Chinese Professional Football Clubs

Chinese professional football clubs(the Clubs) are in a predicament of survival, which have a single shareholder or absolute control by controlling shareholders. This has produced a large impact on the professionalization process of Chinese football.The equity structure of the Clubs needs urgent reform. The study argued that the purpose of the equity structural reform of the Clubs is to transform the club management mechanism and reach a balance between the profit-making and social public attributes of the clubs. At present, the major issues in the equity structural reform of the Clubs are the waning willingness of non-state owned enterprises(non-SOEs) to invest in the Clubs, existence of difficulties and sore points for SOEs to invest in the Clubs, and underperformed leadership and guiding role of local governments. Based on a complete analysis of the critical issues, the purpose of the study is to explore and find a new feasible way within the framework of market mechanism for the Clubs' development. The following innovative ideas are recommended for the equity structural reform of the Clubs: Local platforms, invested and operated by state-owned capital, invest in local professional football clubs as minority shareholders; encourage and regulate non-SOEs' investment in the Clubs as controlling shareholder; local governments take the initiative and implement policies precisely; and change the reform mode of the Clubs' equity structure.