伴随第九城市董事长朱骏、恒大地产集团董事局主席许家印等产业资本大鳄，变身上海申花、广州恒大等足球俱乐部幕后老板之后，中国足球超级联赛成了球员交易活跃市场之一。

With the ninth city ZhuJun chairman of the board of directors/Evergrande real estate group chairman of the board XuGuYin industries capital big alligator,Cinderella Shanghai shenhua/Guangzhou evergrande etc football club after the boss,China football super league has become one of the active player trading market.

　　单单是德罗巴、阿内尔卡、卡努特、雅库布、孔卡、穆里奇这几名在中超效力的大牌队员，每年会从中国俱乐部卷走近5亿元的年薪。这一现象使得2012足球联赛成为资本高度密集地。业内统计数据显示，2012年中超16家俱乐部的总预算接近30亿元。由此，中超联赛越过韩国足球联赛，成为仅次于日本足球联赛的“钱多”的亚洲联赛。

Just didier drogba/Nicolas anelka/kanoute/yakubu/Hole card/Jose richie this several super effect in the big players,A year from China's club roll approached 500 million yuan annual salary.This phenomenon makes 2012 football league become capital height densely.Industry data,2012 super 16 clubs budget the amount of nearly 3 billion yuan RMB.this,The super league over the south Korean football league,Be second only to Japan football league"More money"Asian league.

　　在每家球队平均年投入近2亿元的背后，都是哪些资本搅动着这场足球盛宴？各家球队的投入和产出拼盘如何？

Within each team average annual investment of nearly 200 million yuan behind,What are they capital stirring the the football feast?Each team of input and output cold dish?

　　两年翻两番 Two years to quadruple

　　不知何时起，中超联赛已经变成资本的斗秀场。

I do not know when the,The super league has become capital bucket shows.

　　粗略统计，6月18日至7月12日本赛季中超联赛的二次转会期，这些被引进的外援总身价也超过了1亿元。如果计算赛季初各家俱乐部投入约3.5亿的引援经费，中超本赛季仅花在外援身上的费用已高达9亿元。

Rough statistics,June 18, to July 12 Japan super league season of the secondary transfer window,These are the introduction of foreign aid total is worth more than 100 million dollars.If calculation at the beginning of the season each club in about 350 million reinforcements funds,This season only super spent on foreign aid body fees have been as high as 900 million yuan.

　　由于引进外援成本占据一半以上的球队支出，因此，中超联赛俱乐部的运营成本也水涨船高。

By introducing foreign aid cost occupies more than half of the team expenditure,therefore,The super league club operation cost is rising.

　　2011赛季，恒大地产集团在恒大足球俱乐部豪掷5.3亿元，创造了国内单体俱乐部投资之最，而对于2012赛季，许家印曾豪言不会低于2011赛季的水平，这意味着恒大的投资将约在5亿元。而2012赛季迄今，朱骏在上海申花足球俱乐部的引援上投资就达2亿元。

2011 season,Evergrande real estate group in evergrande football club house throw 530 million yuan,Create the domestic monomer club the investment,For the 2012 season,XuGuYin had big not lower than the level of the 2011 season,This means that the constant big investment will be about 500 million yuan.And the 2012 season so far,ZhuJun in Shanghai shenhua football club reinforcements reached 200 million yuan investment.

　　业内人士估算，2012年中超16家俱乐部的总预算超过26亿元且有追加之势，相当于每家俱乐部预算近2亿元。这一数据是2010年中超联赛16家俱乐部总预算的4倍，彼时，每家俱乐部的平均赛季预算约在5000万元。

The personage inside course of study to estimate,2012 super 16 clubs master budget of more than 2.6 billion yuan and additional trend,Equivalent to each club budget nearly 200 million yuan.This data is 2010 years the super league 16 clubs four times of the total budget,At the,Each club's average season budget about 50 million yuan.

　　在足球联赛资本来势汹汹的背后，国际足联驻华商务代表、欧迅体育总经理朱晓东认为，我们的联赛目前依然是靠几个外援打天下，外援不行就水准骤降。对于中国联赛水平提高重要的是要培养自己俱乐部的人才，买卖球员并不可取。

In the football league comes viciously capital behind,FIFA's foreign trade representative/The rapid sports general manager ZhuXiaoDong think,Our league still is to rely on a few foreign aid struggle to seize state power,Foreign aid not line level dip.To increase the level of China league is important to develop their talents of the club,Buying and selling players is not recommended.

　　一半是国企，一半是地产商 Half in the state-owned enterprises,Half of the real estate business

　　“依靠外援打天下”的事实，并不影响各种资本对足球俱乐部的投资。

"Fish dependent on foreign aid"fact,Does not affect all sorts of capital investment to the football club.

　　以上海申花足球队为例，除了朱骏作为私营投资者在申花俱乐部持股28.5%之外，上海申花为另外五大国企股东拥有，分别是上海广电集团、上海文广集团、上海电气(601727,股吧)集团、上海黄浦国资委和上海广电信息公司，共持股71.5%。

To Shanghai shenhua football team as an example,In addition to ZhuJun as private investors in ShenHuaJuLeBu beyond 28.5% shareholding,Shanghai shenhua for another five big state-owned enterprises with the shareholders,Shanghai radio and television group respectively/SMG/Shanghai electric(601727,guba)group/The state-owned assets supervision and administration commission of Shanghai huangpu Shanghai radio and television information company,A total of 71.5% shareholding.

　　事实上，在现在的中超俱乐部中，绝大多数俱乐部的投资者仍是国企，此外，一些拥有很强资金实力的地产商也是主要的投资主体。并且，在众多俱乐部的投资主体中，一般不似上海申花一般均衡持股，而是一股独大。

In fact,In today's super club,The vast majority of the club's investors are still state-owned enterprises,In addition,Some have strong financial strength of the real estate business is the main investment main body.and,In many club in the main body of investment,Don't usually like Shanghai shenhua holdings general equilibrium,But a single big.

　　在中超的16支球队俱乐部中，有9家俱乐部的主要投资方具有国资背景，分别是北京国安、江苏舜天(600287,股吧)、贵州人和、上海申花、山东鲁能 、青岛中能、长春亚泰、上海申鑫、天津泰达。

Super in 16 teams in the club,There are 9 the club's main investors have inspected background,Is Beijing guoan respectively/Jiangsu shuntian(600287,guba)/Guizhou and/Shanghai shenhua/Shandong luneng /Qingdao zhongneng/Changchun both/Shanghai ShenXin/Tianjin teda.

　　此外，在所有16支球队的主要投资方中，有超过10家企业主要业务构成中涉足地产相关业务，分别是广州恒大、广州富力、长春亚泰、杭州绿城、辽宁宏运、大连实德、天津泰达、河南建业、大连阿尔滨、山东鲁能等。

In addition,In all 16 teams in the main investors,There are more than 10 enterprises constitute the main business of real estate related business in,Guangzhou evergrande respectively/Guangzhou FuLi/Changchun both/Hangzhou greentown/Liaoning macro transport/shide/Tianjin teda/Henan ing/Dalian al offshore/Shandong luneng, etc.

　　朱晓东称，国有企业大规模进入足球产业，有其特定的时代背景。职业足球发展初期，除日常开支外还要进行场地设施、二三线梯队等基础性建设，需要大量资金，民企早期实力不足以应付这些开支。

ZhuXiaoDong says,Large-scale state-owned enterprises into football industry,Has its specific era background.Professional football development initial period,In addition to the daily spending even for site facilities/Two or three line echelon fundamental construction, etc,Will need a lot of money,Corporation early strength is not enough to cope with these expenses.

　　而由国企投资足球转向地产商投资足球，则反映了中国地产行业当下的繁荣。朱晓东称，即使是投资较少的俱乐部一年也得有大几千万的投资，现在，不具备资金实力的投资方不足以支撑运营一个俱乐部，而地产行业无疑是近几年最赚钱的行业之一。

The state-owned enterprises investment football to developers investment football,It reflects the Chinese real estate industry present prosperity.ZhuXiaoDong says,Even with less investment in a club with a big tens of millions of investment,now,Does not have the financial strength to support the investors in a club,And the real estate industry in recent years is undoubtedly one of the most profitable industry.

　　然而，在足球俱乐部改制、投资主体变迁的过程中，很多俱乐部并未改变一股独大的状况。对此，昌荣传播集团体育事业部总经理吴磊表示，我国职业足球现存制度安排错位问题，国有等股东一股独大现象，在俱乐部中，造成资产代理关系呈现出行政性而不是市场委托性，这就造成了公司实际控制和监督方式上的一系列问题。

however,In the restructuring of the football club/Investment subject in the process of change,Many clubs did not change a single big situation.this,And prosper in communication group sports division general manager WuLei said,Chinese professional football existing system arrangement dislocation problem,State-owned shareholders, such as a single big phenomenon,In the club,Cause asset agency relationship present administrative rather than market WeiTuoXing,This caused the company's actual control and supervision on the way to a series of problems.

　　盈利“不可行” profit"Not feasible"

　　中国足球联赛投资主体的变迁，并未改变俱乐部的营收状况。

China football league investment main body changes,Did not change the club's revenue situation.

　　8月28日，恒大集团公布了半年业绩数据，恒大集团董事副主席、总裁夏海钧介绍，预计全年足球俱乐部投资约3.7亿元，上半年俱乐部收入约1亿元。他估计恒大足球俱乐部全年净亏损控制在2亿元左右。

On August 28,,Evergrande group announced half a year performance data,Evergrande group vice chairman of director/President XiaHaiJun is introduced,The football club is expected to invest about $370 million,In the first half of the club, with revenues of about $100 million.He estimates that evergrande football club annual net loss control at 200 million yuan.

　　一个多月之前，恒大集团曾经遭遇过香橼研究的做空报告，香橼研究指责恒大对足球的投资问题。当时，许家印对此解答称：2010年公司足球支出1.7亿元，盈利几十万元；2011年支出5.3亿元，亏损8000万元，支出涵盖球员的年薪，但是有的球员是升值的。

More than a month ago,Evergrande group had met citron research do empty report,Citron research accused evergrande to football investment problems.At that time,This XuGuYin answer say:In 2010 the company football spending 170 million yuan,Profit hundreds of thousands of yuan;2011 spending 530 million yuan,Loss 80 million yuan,Expenditure covers the salary of the players,But some players is appreciation.

　　恒大集团投资足球的三年账本，可见恒大集团的投资亏损在逐步扩大。以许家印以及夏海钧提供的数据作为参照，2010年恒大投资足球基本打平，而2011年其亏损率为15%，2012年预计亏损率约为54%。

Evergrande group investment football books for three years,Visible evergrande group investment losses in gradually enlarged.To XuGuYin and XiaHaiJun to provide the data as a reference,2010 evergrande investment football basic planishing,And in 2011 its loss rate was 15%,In 2012 is expected to loss rate is about 54%.

　　随着2012赛季俱乐部投资加大，恒大集团的投资数据或是行业状况的一个参考。对于中国足球俱乐部的盈利预期，朱晓东称，“盈利这种情况在中国俱乐部中，似乎是不可行的”。

As the 2012 season the club investment increase,Evergrande group investment data or industry status of a reference.For China's football club profit expectations,ZhuXiaoDong says,"Earnings this kind of situation in China in the club,Seems to be not done".

　　朱晓东进一步表示，在中国足球环境上，媒体垄断现象严重、比赛转播权没有市场化竞争，收入少、竞争不够激烈。以中超俱乐部每年的基本预算是1.5亿元计算，电视转播的收入只有不到300万元。

ZhuXiaoDong further said,In the China football environment,Media monopoly is serious/No game rights market competition,Income less/Competition fierce enough.Super club in every basic budget is 150 million yuan calculation,Television income less than 3 million yuan.

　　吴磊也称，目前在中超俱乐部，84%的收入来自于广告收入，而作为国外顶级联赛的两大收入支柱门票收入和媒体版权收入只占到总收入的16%。

WuLei also called,At present in the super club,84% of the income from the advertising revenue,As a foreign league two big income support tickets income and media copyright income accounted for only 16% of the gross income.

　　吴磊进一步表示，中国足球联赛的商业运营现状是商业赞助的水分很大，主要是靠政策性或友情赞助，此外，有一部分是依托俱乐部老板的内部运作，这种状况说明联赛商业开发环境还不够。

WuLei further said,China football league commercial operation status is the commercial sponsorship of a water,Basically is to rely on the policy or friendship sponsor,In addition,Some is relying on the club's inner workings,This situation shows league commercial development environment is not enough.

　　玩的是“营销” Play is"marketing"

　　在投资越多，亏损可能越多的状况下，为何足球投资并未降温？

In the more investment,Under the condition of the more loss was likely to be,Why football investment does not cool?

　　在许家印眼中，足球投资可能并非意在“吸金”，而是一笔营销费用支出。换言之，即便亏损2亿元，也等于是拿2亿元投了广告，这笔广告费显然并不昂贵。

In XuGuYin eyes,Football investment may not be aimed at"Suction gold",But a marketing expenses.In other words,Even if loss 200 million yuan,Also, etc and get 200 million yuan for advertising,The advertising are clearly not expensive.

　　“我们每场比赛只给广东体育4万元的转播费，但换来的却是90分钟的品牌曝光机会。恒大主场的广告牌是里三层外三层，很多赞助商都希望能通过恒大比赛的直播，做到品牌的溢出和美誉度提升。要知道，央视的广告是一秒15万元，而我用4万元就能换回来这么多的回报，你说这个投资值不值得？”许家印这样阐释他的足球投资生意经。

"We only every game to guangdong sports 40000 yuan of money,But only won the 90 minutes of brand exposure opportunity.Evergrande home billboard is three layer in the three layer,Many sponsors all hope can through the constant big game live,Do brand of overflow and reputation ascension.Want to know,CCTV's advertising is a second 150000 yuan,And I use 40000 yuan can change it back so much return,You said the investment is worth?"XuGuYin such interpretation his football investment business.

　　在恒大投资足球的几年间，品牌溢价大涨。国务院发展研究中心企业研究所、清华大学房地产研究所、中国指数研究院联合发布《2011中国房地产品牌价值TOP10报告》，恒大品牌价值蝉联中国房企TOP10第一。从2009年的41.54亿元到2011年的210.18亿元，恒大品牌价值两年多提升了足足5倍。

In the constant big investment football few years,Brand premium of.The state council development research center enterprise institute/Tsinghua university real estate research institute/China index research institute jointly promulgated[2011 China real estate brand value TOP10 report],Evergrande brand value ranked China room enterprises TOP10 first.From 2009 yuan to 2011 yuan in 21.018 billion,Evergrande brand value more than two years ascension for 5 times.

　　吴磊也认为，“恒大经营的是广告而不是球队，里皮只是广告中的一个主角而已，从营销来看，这笔广告费是非常超值的，因为几乎所有的媒体都关注并报道的，且是国际性的，做广告不也就追求这样的效果吗？”

WuLei also think,"Evergrande business advertising is not the team,Lippi is one of the leading role that advertising,From the marketing to see,The advertisement is very value,Because almost all the media attention and reported,And is international,Advertising is not the pursuit of such effect?"

　　在显性收益的背后，投资足球的背后也不乏隐性收益的说法。一位业内人士称，足球一直以来被看做是“城市名片”的一种，很多从事足球投资的企业集团，可以借助足球投资，为其实业发展提供更多便利。这种便利是每个企业都渴望的。

In the dominant income back,Investment football there are hidden behind the income statement.A personage inside course of study says,Football has been seen as"Urban business card"a,A lot of football investment enterprise group,Can use football investment,For its industrial development to provide more convenience.This convenience is each enterprise all desire.

　　曼联的经验 The experience of the united

　　中超联赛的商业运营状况，并非全球普遍现象。

The super league of commercial operations,Is not the global common phenomenon.

　　7月初，曼切斯特联队（简称“曼联队”）控股股东格雷泽家族正式向纽交所提交了上市申请。作为世界上商业价值最高的球队之一，曼联队的商业运作一直是足球俱乐部的标杆。

In early July,Manchester united(Referred to as"Manchester united")The controlling shareholders the glazer family official to nyse submit the application for listing.As the world's commercial value of the highest one of the team,Manchester united's commercial operation has been football club benchmarking.

　　曼联队的财务报表，忽略球队因历史原因产生的高额财务融资费用，俱乐部每年的运营利润率高达20%，近三年年均运营利润超过8000万英镑（约人民币8亿元）。这一表现，让不少体育产业投资人看到了未来的希望。

Manchester united's financial statements,Ignore the team because of the history of the causes of high finance financing cost,The club the annual business/operating profit margin is as high as 20%,Nearly three years at an average of operating profits more than 80 million pounds(Around 800 million yuan).The performance,Let a lot of sports industry investors see the hope of the future.

　　包括曼联队在内，世界足球俱乐部都有稳定的营收模型。朱晓东介绍称，国外俱乐部主要收入分为三大块，分别为电视转播权收入，占到总收入的40%-50%；赞助商收入占到总收入的20%-30%；比赛日收入占到总收入的30%-40%。比赛日收入，主要包括纪念品、门票等收入。而中国在电视转播权收入和比赛日纪念品销售收入方面几乎是缺失的。

Including, Manchester united,The world football club have stable revenue model.ZhuXiaoDong introduction says,A foreign club main income is divided into three parts,Television rights income respectively,Account for 40% to 50% of the gross income;Sponsor income account for 20% to 30% of the gross income;Matchday income account for 30% to 40% of the gross income.Matchday income,Mainly include souvenirs/Tickets income such as.China in the television rights income and matchday souvenir sales revenue is almost the missing.

　　具体而言，意大利足球俱乐部的电视转播收入一般占俱乐部总收入的50%-60%，成为俱乐部最主要最稳定的收入。德国的拜仁慕尼黑俱乐部最主要的收入是俱乐部经营开发收入，他们主要是利用俱乐部自身品牌的影响力，对其他行业进行一些具有收益性的投资，涉及金融、地产、酒店、旅游等众多领域，以获取高额的经营开发收入。

In particular,Italian football club on TV income generally accounted for 50% of the total revenue club - 60%,As the club's most main most stable income.Germany's bayern Munich club's main income is income club business development,They mainly is to use the club its brand influence,For other industries has some profitable investment,Involves financial/Real estate/The hotel/Tourism, etc,In order to get high business development income.

　　在吴磊看来，由于中国独特的体育和媒体环境，中国足球俱乐部的主要收入来自于球队胸前广告和现场广告，球票收入和转播权收入占比不高，这种状况使得俱乐部经营的压力和风险比较高。

In WuLei seems,Because of China's unique sports and media environment,China football club's main income from the team chest advertising and site advertising,Tickets income, and income of rights than is not high,This situation makes the club business pressure and risk is higher.

　　2011年9月，一份来自中国足协的问卷调查数据显示，中国足球的注册从业人口仅有8000人，而在亚洲同行，越南足协统计的注册人数为5万，日本达到50万，法国为146万，从业人口的萎缩只是足球行业衰落的一个缩影，这影响到了中国足球商业赞助的开发。

In September of 2011,A Chinese football association from the questionnaire survey data show,China football registered employed population only 8000 people,And in Asian counterparts,Vietnam football association statistics registration number for 50000,Japan reached 500000,France for 1.46 million,Employed population atrophy just football industry a miniature of the decline,This affected China football sponsorship development.

　　“如何提高中国足球商业运作，可能是一个难题。”吴磊称，中国足球需要领导的关注，政策的支持，但更多需要重塑中国足球形象。此外，还需要学习国外先进经验实现管办分离，同时，中超公司要真正独立运作。

"How to improve China football business operation,May is a difficult problem."WuLei says,The leadership of the Chinese football needs attention,Policy support,But more to reshape the image of Chinese football.In addition,Still need to learn advanced experience of foreign countries realize tube do separation,At the same time,Super company to truly independent operation.