A decade after the splash of Chinese cash first made waves in the global soccer market, the once-racing certainty that China would become a major player in the game looks increasingly like a long-odds gamble.
The decision to relinquish the rights to next year's Asian Cup finals, which was made by China last weekend citing COVID-19 uncertainties, has left Chinese soccer facing an uncertain future.
Staging the quadrennial continental championship in nine sparkling new arenas and one rebuilt stadium was supposed to be a stepping stone toward realizing Chinese President Xi Jinping's ambition of hosting the World Cup.