The Vietnam Professional Football Company (VPF) said that local football clubs will continue to face serious financial difficulties over the next two years.

Banner for Vicem Haiphong FC

The V-League Cup has already lost K. Kien Giang and Binh Dinh FC, and may lose more players, as a major sponsor, Vietnam Cement Industry Corporation (Vicem), decided to leave their football team in the hands of Haiphong municipal government.

A member of VPF, Tran Duy Ly, along with Haiphong authourities confirmed that the club would participate in the V-League next year because Haiphong authorities were trying to improve the club by changing the management system and personnel.

Despite confirmations, fans are still worried since many sponsors have withdrawn from the scene in the last two years. When the sponsors left K. Kien Giang FC, the players were still left with unpaid salaries and bonuses. Several players had to take on lawyers to force the club pay.

The club was put on sale, but attracted no buyers. The Vietnam Football Federation then had to urge owners of K. Kien Giang to pay all salaries.

Pham Ngoc Vien, head of VPF, said financial problem would continue to plague the football scene for the next couple years. "The economic downturn is still causing great troubles for our sponsors, who are unable to make large investments in football."

He went on to say that football clubs now must be more financially responsible. "It's a good thing. Clubs with weak financial capability will be eliminated. And when the economy recovers, investment will return," he said.

Currently, even VPF is struggling to gain funding for the next V-League. They have been able to collect VND60 billion (USD2.9 million), about two-thirds of what will be required.