Brazilian star Miranda misses out on £7.5m fortune after Chinese club folds

Brazilian star Miranda missed out on a £7.5million fortune when Chinese Super League side Jiangsu folded in March.

The club had won their first league title just three months prior to being dissolved due to financial difficulties before the start of the 2021 season.

They are not the only Chinese club to have struggled financially this year, with a number of players going unpaid or having their contracts terminated.

The CSL rose to prominence during the mid-2010s as club's splashed out on high transfer fees and wages to bring in a number of high-profile players such as Hulk and Oscar.

The Daily Mail reports that Miranda missed out on £7.5million as a result of Jiangsu folding, having had three months remaining on his deal at the time.

It is understood that the 37-year-old has the option to hire lawyers to fight for the money he has not yet received but domestic players do not have the same privilege.

Miranda made 28 appearances for Jiangsu in 2019 from Inter Milan, who are owned by Suning Holdings, the same company which owned Jiangsu.

The Brazilian international played 19 times during the title-winning campaign and has since returned to Brazil, signing for former club Sao Paulo.

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Other players have reportedly appealed to FIFA over unpaid wages and contract terminations, including fellow Brazilians Renato Augusto and Fernando Martins.

Augusto had his contract terminated by Beijing Guoan in July after five years with the club, while Fernando suffered the same fate one month later in August.

Prior to Jiangsu's dissolution earlier this year, Tianjin Tianhai had also folded prior to the start of the previous campaign.

The future of the league looks in ever-growing doubt, with reports of unpaid wages joined by claims that some players have been sent home from training with their own laundry.

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