As foreseen Didier Drogba makes the move to the Chinese League joining Shanghai Shenhua for a cool $15 million per year on a two year contract. He joins former Chelsea compatriot Nicholas Anelka and the club’s new coach Sergio “Checho” Batista, last seen as Argentina’s manager in their 2011 Copa America misadventure.
What makes it more interesting is that Zhu Jun, the owner of Shenhua, is the CEO of online gaming company The9 Limited which trades on NASDAQ, which lost $150m in the last three years with 2008 the only year they made a profit. An amount which barely covered Nicholas Anelka’s annual salary. From 2008 to 2011, their annual sales have plunged from of $264.73m to $16.9m. Most gurus have given the stock a fail. So how is Shenhua remaining afloat?
Shanghaied: shang·hai (shng-h, shngh)
tr.v. shang·haied, shang·hai·ing, shang·hais
1. To kidnap (a man) for compulsory service aboard a ship, especially after drugging him.
2. To induce or compel (someone) to do something, especially by fraud or force: We were shanghaied into buying worthless securities.