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Quang Hai is currently considered the most valuable player in the V-League. Photo: CAHN FC.

The flood of money in V-League

As the 2023/2024 season wrapped up, the Vietnamese football transfer market heated up with numerous high-value deals spanning from the V-League to the First Division tournament.

The most notable was the three-year contract between football star Quang Hai and the former champion Hanoi Police (CAHN) FC, reportedly including a signing bonus of up to VND9 billion ($375,000) per season.

But this impressive figure might soon be eclipsed. Rumors suggest that a domestic club is prepared to offer Hoang Duc VND10 billion ($420,000) per season under a three-year contract.

Beyond these star players, several other transfers involving players like Dinh Trong, Bui Tien Dung, and Tuan Anh also involve significant sums.

The glaring gaps behind the big deals

While the vibrant transfer activity and hefty bonuses are encouraging signs of V-League’s potential revival, the reality is less sparkling. The perceived value of these deals seems inflated when considering the players' actual performance and contributions.

If the rumors about Hoang Duc’s VND 10 billion signing bonus are true, he would surpass Quang Hai as the most expensive player in the V-League. Yet, evaluating his recent performance raises questions about whether his value truly justifies such a staggering figure.

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However, Hai may be surpassed by Hoang Duc in the mid-season transfer window of 2024/2025. Photo: DL.

Over the past season, Hoang Duc played 24 matches, clocking over 2,100 minutes, scoring just two goals, and providing three assists. These statistics may not fully capture his importance, but they suggest that the reported bonus may be excessively high.

Moreover, the true value of these players is not just about their on-field performance but also their ability to attract fans and bring in lucrative sponsorships. Yet, players like Hoang Duc and Quang Hai have yet to demonstrate the kind of marketability and impact that would justify their rumored transfer bonuses.

Reflecting on the history of V-League transfers, this situation is reminiscent of the market dynamics over a decade ago. The football scene in Vietnam, before the arrival of coach Park Hang Seo in 2018 and the exit of the U19 players from the Hoang Anh Gia Lai academy, was marked by a similar cycle of inflated player valuations and underwhelming outcomes.

Thus, despite the eye-catching figures, these high-value deals have not necessarily propelled Vietnamese football to new heights. The football community continues to grapple with the disparity between the financial allure of these transactions and their actual impact on the sport’s progress.

Dai Nam