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盈和国际网址-疫情之下,中超球队正面临的生存困境

发表时间:2021-04-09

The news of Jiangsu Suning’s lack of pay for training strikes is like a meteor, coming and going so fast, so fast that people can’t tell the truth of the news.

苏宁欠缺罢工报酬的消息就像流星一样,来来往往如此之快,以至于人们无法说出新闻的真相。

The club responded very quickly. Only about 3 hours after the news came out, the officials clearly stated that the unpaid strike was untrue news. Many fans also agreed with this view. After all, since the "Golden Yuan Dynasty", the Chinese Super League has rarely reported it. The news of unpaid wages, on the contrary, is that the high salaries of the players have caused some dissatisfaction from the masses. "Disbanding the national team", "letting the executed prisoners play games" and other thunderous names have emerged one after another.

俱乐部反应很快。消息传出后仅三个小时,官员就明确表示,无偿罢工是不真实的消息。许多粉丝也同意这种观点。毕竟,自“金元朝”以来,中国超级联赛很少报道。相反,未付工资的消息是,球员的高薪已经引起了群众的不满。 “解散国家队”,“让处决的囚犯玩游戏”和其他雷鸣般的名字接连出现。

What's more, although Jiangsu Suning's investment scale is not comparable to that of local tyrants such as Evergrande, it is also a well-established family. It is rumored that Teixeira has taken the lead in training. Since joining the team, he has rarely been associated with negative news. "Salary strike" will appear in Jiangsu Suning.

而且,尽管苏宁苏宁的投资规模无法与恒大等当地暴君相提并论,但它也是一个成熟的家庭。有传言说Teixeira率先进行了培训。自加入团队以来,他很少与负面消息相关联。 “工资罢工”将出现在江苏苏宁。

However, some senior media professionals said that the fact of salary arrears was true, but the time of arrears was relatively short. After the news came out, the club immediately filled up the salary and settled the incident.

但是,一些资深媒体专业人士表示,拖欠工资的事实是事实,但拖欠时间相对较短。消息传出后,俱乐部立即填补了工资并解决了这一事件。

Judging from the above information, the incident of salary arrears is either a fictional existence, or it does exist but has ended. Therefore, it is difficult for the incident to make waves in the short term. As for whether the news is true, it is difficult for us to get a definitive answer.

从以上信息来看,拖欠工资的事件要么是虚构的存在,要么确实存在,但已经结束。因此,事件很难在短期内产生影响。至于这个消息是否属实,我们很难获得确切的答案。

In a series of reports surrounding the news, I think one thing is quite reliable: the club’s salary arrears is not due to financial problems, but because the previous salary reduction negotiations with the players did not reach an agreement, which caused one or two Monthly wages are in arrears.

在有关新闻的一系列报道中,我认为一件事情是相当可靠的:俱乐部的薪金欠款不是由于财务问题,而是因为先前与球员的减薪谈判未达成协议,这导致了一两个月度工资拖欠。

There are two main reasons why I think it is reliable: First, judging from the size of the parent company, there is no need to be in arrears of one or two months of salary, and the club will make up for the salary as soon as the news comes out. According to Qi's report, the club's finances are indeed fine.

我认为可靠的主要原因有两个:首先,从母公司的规模来看,不需要拖欠一两个月的薪水,俱乐部将尽快补足薪水。消息传出。根据齐的报告,俱乐部的财务状况确实不错。

Second, the Super League clubs are indeed pushing for salary cuts. At this year's investor conference, salary cuts and de-bubbling are no longer an initiative or requirement of the Football Association, but a consensus of investors. After 10 years of "Golden Yuan Dynasty", it is about to end now.

第二,中超俱乐部确实在要求减薪。在今年的投资者会议上,减薪和消除泡沫已不再是足协的一项倡议或要求,而是投资者的共识。经过十年的“金元朝”,它即将结束。

It should be noted that even if there is no epidemic, shrinking investment is a general trend. Before the outbreak of the epidemic, the Chinese Super League clubs had already faced considerable operating pressure. Some reporters said that the Chinese Super League teams had actually experienced wage arrears, and even rich teams were involved, but there was no relevant report. After the outbreak of the epidemic, some clubs are no longer facing operating pressure, but survival pressure.

应当指出,即使没有流行病,投资减少也是大势所趋。在流行病爆发之前,中超俱乐部已经面临相当大的经营压力。有记者说,中超球队实际上是欠薪的,甚至有富裕的球队都参与其中,但没有相关报道。流行病爆发后,一些俱乐部不再面临经营压力,而是生存压力。

Some friends may think that the “stress of survival” is alarmist, at least the parent company behind the Super League team is quite strong. Just like this time when there was a salary arrearage in Jiangsu, some people used the strength of Suning Land and its affiliated Suning Tesco group companies to analyze the rumors of salary arrears.

一些朋友可能会认为“生存压力”是危言耸听的,至少中超联赛团队背后的母公司相当强大。就像这次江苏出现工资拖欠一样,有人利用苏宁置地及其下属的苏宁易购集团公司的实力来分析有关拖欠工资的传言。

Even if salary arrears have little to do with financial factors, or a strike for arrears does not exist, it is not appropriate to confuse investors with clubs. Investors are not fake, but their funds may not be willing or able to invest in the club.

即使拖欠薪金与财务因素关系不大,或者不存在拖欠薪金的罢工,将投资者与俱乐部混淆也是不合适的。投资者不是伪造的,但他们的资金可能不愿意或不能投资于俱乐部。

Investors invest for nothing more than two purposes: interests, or feelings + interests. Regardless of the purpose, interests cannot be bypassed.

投资者的投资目的不外乎两个目的:利益或感情+利益。无论目的如何,都不能绕过利益。

Take Inter Milan, another club under Suning, for example. Although the Nerazzurri has lost nine years in ten years, this does not conceal the club's good development momentum.

以苏宁旗下另一个俱乐部国际米兰为例。尽管内拉祖里在十年中已经损失了九年,但这并不能掩盖俱乐部的良好发展势头。

In the past three years, Inter Milan’s losses have been significantly reduced, and in the 17-18 season, the club’s pre-interest and tax profit reached 24.8 million, and the 18-19 season only lost 11.1 million. Judging from the vigorous recruitment of Inter Milan in the last two seasons, the club's cost control is very satisfactory and its dependence on Suning Group's investment is becoming less and less.

在过去三年中,国际米兰的亏损已大大减少,在17-18赛季,俱乐部的利息和税前利润达到了2480万,而18-19赛季仅亏损了1110万。从最近两个赛季大力招募国际米兰来看,俱乐部的成本控制非常令人满意,并且对苏宁集团盈和国际官网投资的依赖越来越少。

It is foreseeable that after the team's lineup and tactical system are stabilized, although it is not profitable for the time being, it is not difficult to achieve a balance of payments. From the perspective of long-term investment standards, Inter Milan has full investment value.

可以预见,在球队阵容和战术体系稳定之后,尽管暂时无法盈利,但实现国际收支并不困难。从长期投资标准的角度来看,国际米兰具有充分的投资价值。

In contrast to the Super League teams, the balance of payments is almost an unreachable goal. Of course, investing in the Super League team is not without benefits. The huge advertising effect still attracts many investors.

与中超球队相比,国际收支几乎是无法实现的目标。当然,投资中超联赛并非没有好处。巨大的广告效应仍吸引着许多投资者。

Take Evergrande as an example. Of the 566 million advertising revenue the club made last year, 463 million came from the parent company Evergrande Real Estate. Conspicuous advertising spaces such as team uniforms and stadium billboards were naturally left to Evergrande Group.

盈和国际网址以恒大为例。俱乐部去年的广告收入为5.66亿,其中4.63亿来自母公司恒大房地产。恒大集团自然留给团队制服和体育场广告牌等显眼的广告空间。

Of course, the investment of Evergrande Real Estate has not been frustrated. When it first invested in football, Evergrande did not have such a strong reputation. Ten years later, it has become one of the leading leaders in the national real estate industry. Among them, the publicity effect of the Evergrande club, which dominates the Chinese Super League and wins the AFC Champions League, can be described as a great contribution.

当然,恒大地产的投资并没有受到挫折。恒大最初投资足球时,并没有这么强大的声誉。十年后,它已成为国家房地产行业的领先者之一。其中,在中国中超联赛中夺冠并获得亚冠联赛冠军的恒大俱乐部的宣传效果可谓是巨大的贡献。

The model of Evergrande can be said to be the representative of the domestic private enterprise background team. Investors invest in the team to a large extent because of the advertising effect of the team. For the group, the team is basically an "advertising department" or "propaganda team."

恒大的典范可以说是国内民营企业背景团队的代表。由于团队的广告效应,投资者在很大程度上投资于团队。对于小组而言,团队基本上是盈和国际官网“广告部门”或“宣传团队”。

From this perspective, Evergrande Real Estate’s advertising costs are not only the 463 million on the books, but the entire amount invested in the club is included.

从这个角度来看,恒大地产的广告费用不仅是账面上的4.63亿,而且还包括了对俱乐部的全部投资。

According to the Evergrande Club's 2019 financial report, the total annual loss reached 1.94 billion yuan, plus the 463 million advertising expenses, the actual book investment of Evergrande Real Estate to the club reached 2.4 billion yuan last year.

根据恒大俱乐部2019年的财务报告,全年亏损总额达19.4亿元,加上4.63亿元的广告费用,去年恒大地产对该俱乐部的实际账面投资达到了24亿元。

Regrettably, the Chinese Super League clubs do not publish financial reports regularly like European clubs, so we can only get data from the Evergrande club. However, this does not affect our inference of the investment scale of the Super League club.

遗憾的是,中国超级联赛俱乐部没有像欧洲俱乐部那样定期发布财务报告,因此我们只能从恒大俱乐部获取数据。但是,这并不影响我们对超级联赛俱乐部投资规模的推断。

In 2018, Jianye CEO Hu Baosen revealed that the investment in Jianye for a year was about 700-800 million, and in 2019, the investment reached 930 million. Henan Jianye has been fighting for relegation. We can regard their investment scale as the bottom line of the Chinese Super League team. From this, it can be concluded that if you want to overmix, you need to invest between 900 million and 2.4 billion a year.

建业首席执行官胡宝森在2018年透露,建业一年的投资约为700-800百万,而在2019年,投资达到9.3亿。河南建业一直在争取降级。我们可以将他们的投资规模视为中国中超球队的底线。由此可以得出结论,如果您想过度混合,则每年需要投资9亿至24亿美元。

As far as the strength of the investors in the Super League is concerned, this scale should not be a problem. Take Evergrande Group as an example. Last year, the net operating cash inflow created by Evergrande Real Estate alone reached 20.8 billion. Continued investment in the club is not a big problem. .

就中超联赛的投资者实力而言,这个规模应该不是问题。以恒大集团为例。去年,仅恒大地产创造的营业现金净流入就达208亿。对俱乐部的持续投资不是一个大问题。 。

However, no matter how strong investors are, a penny may not be superfluous. If the team's advertising effect does not have room to continue to improve, investors may not have the willingness to increase or maintain investment. What's more, next year the club name will be "neutralized", and the advertising effect will inevitably be greatly reduced.

但是,无论投资者有多强大,一分钱都不是多余的。如果团队的广告效果没有继续提高的空间,则投资者可能没有增加或维持投资的意愿。而且,明年俱乐部名称将被“中和”,广告效果不可避免地会大大降低。

It's not that this kind of thing has never happened. Sichuan Quanxing was a typical example. Moreover, today's investors' own business conditions are already different from the past.

并不是说这种事情从未发生过。四川全兴就是一个典型的例子。而且,如今的投资者自身的经营状况已经与过去有所不同。

The "Golden Yuan Dynasty" of the Super League is mainly driven by the real estate industry. Today, life in the real estate industry is not easy. In the second half of the year, rumors about the "three red lines" of real estate companies spread like wildfire, causing rumors among relevant people.

中超联赛的“金元王朝”主要由房地产业驱动。如今,房地产行业的生活并不轻松。下半年,关于房地产公司“三红线”的谣言如野火般蔓延开来,在相关人士中引起了谣言。

The so-called "three red lines" specifically refer to "the debt-to-asset ratio after excluding advance receipts is not higher than 70%", "the net debt ratio is not higher than 100%", and "the cash short-term debt ratio is greater than 1 time". If these three red lines are crossed, then companies will not be allowed to increase the scale of interest-bearing financing.

所谓“三红线”,具体是指“扣除预盈和国际官网收款后的债务/资产比率不高于70%”,“净债务比率不高于100%”和“现金短缺”。债务比率大于1倍”。如果这三个红线交叉,则将不允许公司增加计息融资的规模。

According to this standard, some practitioners compared the data of domestic leading real estate companies last year. The results showed that all those who crossed the "three red lines" were names familiar to fans.

根据该标准,一些从业人员比较了去年国内领先的房地产公司的数据。结果表明,所有越过“三红线”的人都是球迷们熟悉的名字。

The scale of interest-bearing financing must not be increased, which has a great impact on real estate companies. It can also be seen from the data in the table that high-debt operation is the main feature of real estate companies, and the main source of operating funds is debt financing, or in layman's terms, borrowing.

计息融资的规模一定不能增加,这对房地产公司影响很大。从表中的数据还可以看出,高负债运营是房地产公司的主要特征,而运营资金的主要来源是债务融资,或者用外行的话说是借款。

Although we have not yet seen any official documents on the "three red lines", judging from a series of actions by the central government in the second half of the year and several high-level speeches, the financing of real estate companies must be extremely difficult.

尽管从下半年中央政府的一系列行动和几次高层演讲来看,我们还没有看到任何关于“三个红线”的正式文件,但房地产公司的融资必须极其难。

In fact, even without the "three red lines", the financing situation of real estate companies is no longer optimistic. Last year, the regulatory authorities imposed strict regulatory restrictions on the illegal inflow of credit funds, wealth management, trust and other asset management funds into real estate, which brought a sharp increase in financing difficulty and financing costs.

实际上,即使没有“三红线”,房地产企业的融资状况也不再乐观。去年,监管部门对信贷资金,财富管理,信托和其他资产管理资金非法流入房地产实行了严格的监管限制,这极大地增加了融资难度和融资成本。

Take Evergrande as an example. Last year, their annualized commercial bill interest rate reached more than 30%, which shows the difficulty of financing. The huge financing costs also eroded profits. In 2019, Evergrande Group's turnover continued to grow, but its main operating profit margin plummeted from 27.2% to 15.5%. Among them, the financing cost, which increased by 55%, was an important factor in the rapid decline of this indicator.

以恒大为例。去年,它们的年化商业票据利率达到了30%以上,这显示出融资的难度。巨大的融资成本也侵蚀了利润。在2019年,恒大集团的营业额继续增长,但其主要经营利润率从27.2%下降至15.5%。其中,融资成本增加了55%,是该指标迅速下降的重要因素。

During the epidemic, Evergrande launched a 25% discount sales strategy. It is generally believed that this is Evergrande’s main means of obtaining cash flow in an environment where financing is difficult and expensive. And the good performance also shows that even if Evergrande wins the AFC Champions again, the advertising effect may not be as affordable as the "25% off".

在流行期间,恒大推出了25%的折扣销售策略。人们普遍认为,这是恒大在融资困难且成本高昂的环境中获得现金流的主要手段。良好的表现还表明,即使恒大再次赢得了亚足联冠军,其广告效果也可能不及“ 25%的折扣”。

What's more, compared with the current liabilities of RMB 1.48 trillion, the sales of RMB 266.6 billion still face considerable debt repayment pressure. When the main business is facing greater financial pressure, the investment in the club must be much more rational. It can also be understood why Evergrande, which started with Jinyuan football, responded with a high profile to anti-bubble measures such as salary cuts at this year’s investor meeting.

而且,与流动负债1.48万亿元相比,销售额2666亿元仍然面临相当大的偿债压力。当主要业务面临更大的财务压力时,对俱乐部的投资必须更加理性。也可以理解为什么从金源足球开始的恒大为何在今年的投资者会议上对反泡沫措施如减薪做出了高调回应。

Moreover, playing football at home is not the same as abroad. It cannot be solved by investors investing money and hiring a reliable management team. Still taking Evergrande as an example, in 2019, several of their large expenditures were related to naturalized players such as Goulart and Fernando.

而且,在家踢足球与国外踢足球不一样。投资者投资并雇用可靠的管理团队无法解决这一问题。仍以恒大为例,2019年,他们的大笔支出中有几项与归化的参与者有关,例如古拉特和费尔南多。

From the perspective of Evergrande's previous lineup framework, they did not need such a large investment. Obviously, these inputs are directly related to the Football Association.

从恒大以前的阵容框架来看,他们不需要这么大的投资。显然,这些输入与足球协会直接相关。

Of course, these inputs of Evergrande are largely voluntary. In its company documents, the revitalization of Chinese football was listed as its goal. But even if you don't have such a high level of consciousness, you can never escape the influence from the Football Association.

当然,恒大的这些投入很大程度上是自愿的。在其公司文件中,将振兴中国足球列为目标。但是,即使您没有这么高的意识水平,您也永远无法摆脱足协的影响。

Take Guo Tianyu as an example. When he was in the Luneng team, he had a lot of fame. As a scarce high center forward in China, fans hope that he can learn from Pellet, or take advantage of his youth to loan to the second team to gain practical experience. But the National Youth Team’s monthly training camp has all these two hopes vanished.

以郭天宇为例。当他在鲁能队时,他很有名气。作为中国稀缺的高级中锋,球迷们希望他可以向佩莱特学习,或者利用他的年轻时光借给第二支球队以获取实践经验。但是国家青年队的每月训练营却使这两个希望都消失了。

Nevertheless, investors have to express their support. As for whether this support comes from the heart, people know it well. If they really support it, how could there be a joint letter requesting the establishment of a professional league this year?

然而,投资者必须表达他们的支持。至于这种支持是否发自内心,人们对此很了解。如果他们真的支持的话,今年怎么会有一封联合信要求建立职业联赛呢?

The management environment is chaotic, coupled with the difficulties encountered in its own operations, investors' enthusiasm for football is no longer comparable to the past. Even investors may be able to tide over the difficulties with their own accumulation, but whether they will take the club to tide over the difficulties is still unknown. What some reporters said that "the Chinese Super League already has teams owed salaries" is not impossible.

管理环境混乱,加上自身运营中遇到的困难,投资者对足球的热情已不再与过去可比。即使是投资者,也可以通过自己的积累来度过难关,但是否会带领俱乐部度过难关仍然未知。一些记者说“中国超级联赛已经有欠薪的球队”并非不可能。

Therefore, it is not alarmist to say that some Chinese Super League clubs have encountered an existential crisis. What is gratifying is that under the epidemic, the Football Association has not been excessively demonized, and it has also fully promoted the rematch and the entry of fans. These are very good results and a glimmer of light in the predicament.

因此,说一些中国中超俱乐部遇到了生存危机并不危言耸听。令人欣慰的是,在这种流行病中,足协并没有被过度妖魔化,它还充分促进了比赛的重新安排和球迷的加入。这些都是非常好的结果,并且在困境中会发出微光。

But compared with the predicament, these achievements are not enough. The professional leagues that have been determined to be established must hurry up to establish and operate, and leave the market to investors for development, so that the club can be truly tied to the investor's chariot and overcome difficulties together with investors.

但与困境相比,这些成就还远远不够。已确定要成立的职业联赛必须抓紧时间建立和运作,并把市场留给投资者发展,这样俱乐部才能真正与投资者的战车联系在一起,并与投资者一起克服困难。

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