Vietnam’s domestic league is in turmoil following a rash of high-profile businessmen giving up on the club’s they’ve back as their ego-boosting playthings. A side effect of the funding shortfall has been a rise in unemployment among the football players.

Xuan Thanh is still on trial at Khanh Hoa Football Club

Eight football clubs have announced their intention to withdraw from the V-League and First Division in recent months including Navibank Saigon, Hanoi Football Club and SHB Danang Youth. Some other clubs have decided to dissolve and many others are facing the threat of bankruptcy.

After Hanoi Football Club were forced to shut down, even leading Vietnamese national team players such as Cong Vinh and Thanh Luong have struggled to find jobs.

Though Hanoi Hanoi Football Club gave the green light to its players' leaving, most haven't found new clubs yet. Other well regarded players such as Xuan Thanh, Van Vinh or Xuan Luan are also having difficulties. Van Vinh has even contemplated leaving professional football.

Even the governing body of football in Vietnam such as Vietnam Football Federation or Vietnam Professional Football depend largely on a super rich tycoon and are facing financial difficulties of their own.

Turning football into an attractive plaything to draw investment into a game is regarded as the cause of the crisis. After 12 years of development, Vietnam's football seems to back to square one with many clubs shut down and investors withdrawing from the game.