Known for its lavish spending to recruit good players over the last two seasons, the Ho Chi Minh City-based football club Saigon Xuan Thanh (SGXT) is calling on the municipal authorities for monetary support in the 2013 season as they are now in economic troubles. SGXT has sunk some VND170 billion, or US$8.1 million, to fortify its squad, which indeed enabled it to win the championship of the second-tier league First Division in 2011, finish third at the 2012 V-League, and finally, snatch the 2012 National Cup trophy. But the club could not avoid the economic malaise that has sent a number of other clubs into a tough spot ahead of the coming 2013 season. Earlier in November, chairman Nguyen Duc Thuy has called on the city’s authorities for some monetary aids, while the club itself has implemented some methods to reduce expenses. SGXT refused to extend the contract with Huynh Kesley, and slashed the monthly wages to other players by as much as 40 percent. Yet the club still has to earmark $22,000 a month to pay salary for Nguyen Rogerio and Antonio as it has yet to be able to sell these two Brazilian stars. The salary budget will only be enlarged next year with the arrivals of other domestic stars including Quang Hai, Tai Em, Viet Cuong, and Long Giang, as they are transferred from the dissolved Naviabank Saigon FC. SGXT currently owes its players two to three months of salary, its managing director Tran Tien Dai admitted. The club has managed to gain some VND2 – 3 billion from selling several Navibank Saigon players, which enabled it to repay the domestic players VND10 million each, and the two foreigners, $2,000. Dai said the club is considering cutting more players’ salaries to save costs. The club needs a VND41 billion budget to be playing at the V-League, the National Cup, and the AFC Cup next year, but its sponsor Xuan Thanh Group has only agreed to disburse VND25 billion. “The biggest headache is thus to find supports for the remaining VND16 billion,” he said.No money help In a document sent to the city’s authorities, chairman Thuy cited the cases of other provinces, which have actually opened their pockets to assist the clubs headquartered in their areas. “Thanh Hoa FC has been supported VND40 billion per season, and Vissai Ninh Binh too received VND20 billion a season from the province,” he said. “Meanwhile, over two years representing for the city’s football and won trophies, we have never received any financial supports from the municipal authorities,” he added. However, deputy director of the city’s Department of Culture, Sports, and Tourism, Mai Ba Hung, said the city may not be able to assist SGXT with money. “We can only support the club in terms of youth training, accommodation and practice places, and competing venues…but not money,” he said. Asked what if SGXT eventually fails to afford its budget and thus has to be dissolved, Hung said it will be a great pity. “But we will start everything from the beginning,” he said.
More

Life in seriously dilapidated apartment blocks in Ho Chi Minh City
The apartment blocks, built 57 years ago, have not been renovated
Read more

2 Dutch men cycle 343 days to Vietnam
They covered 20,000 kilometers
1 day ago
Hanoi Football Club appoints new Japanese coach
The team are currently ranked fourth after 13 rounds
19 hours ago
Can Tho youth find exercise, stress relief at new archery station
The station spans 1,000 square meters and features 18 shooting targets
1 day ago
Vietnam Gameverse 2025 to return in Ho Chi Minh City with expanded gaming ecosystem
Activities as part of Vietnam Gameverse 2025 will run from February to May
2 days ago
adidas’ new global brand campaign spotlights importance of helping to make athletes believe ‘You Got This’
The new campaign is rooted in the universal truth that everyone needs someone to help make them believe 'You Got This'
6 days agoHighlights

Essence of the sea in every bite: Flying fish roe a delicacy in central Vietnam
Once a humble coastal dish, 'gỏi trứng cá chuồn' (flying fish roe salad) has now become a sought-after specialty for visitors to the central province.
Latest news

Essence of the sea in every bite: Flying fish roe a delicacy in central Vietnam
Once a humble coastal dish, 'gỏi trứng cá chuồn' (flying fish roe salad) has now become a sought-after specialty for visitors to the central province.

Breakfast @ Tuoi Tre News — February 18
Good morning from Vietnam!

Hanoi Football Club appoints new Japanese coach
The team are currently ranked fourth after 13 rounds

Da Nang aims at early use of completed parts in $55mn software park project
The park celebrated the inauguration of phase 1 on January 16

Agricultural tourism through social media a new trend in Vietnam
Intrigued by a video showing the harvest of cabbage and the preparation of pork for Tet, she followed the Facebook page, which led to a seven-day trip that turned out to be surprisingly enjoyable and affordable

New downloads of DeepSeek suspended in South Korea, data protection agency says
The service of the app will be resumed once improvements are made in accordance with the country's privacy law

End of the road for Kolkata's beloved yellow taxis
Kolkata locals cherish their city's past, which is why many in the one-time Indian capital are mourning a vanishing emblem of its faded grandeur: a hulking and noisy fleet of stately yellow taxis

Dog protects 5-year-old boy who went missing overnight in northern Vietnam
The dog stayed by the side of the boy throughout the night

Taiwan bounty hunters kill invading iguanas as numbers soar
Taiwan's iguana population has exploded

Tourists fall into river while visiting floating market in Vietnam’s Mekong Delta
They were quickly rescued and suffered no injuries