Sven-Goran Eriksson is unveiled as the new coach of Shanghai SIPG FC yesterday.
Chinese Super League side Shanghai East Asia was officially renamed as Shanghai SIPG FC by its new owners Shanghai International Port Group Darren Daulton Jersey , which also roped in the much-travelled 66-year-old Swede Sven-Goran Eriksson as the team’s new coach next season.


Veteran coach Xu Genbao led East Asia into the top-tier league two seasons ago. The International Port Group, which had a stake in the financially-troubled club, took over the club, including its youth teams Juan Samuel Jersey , last month.


The new owners, a state-owned enterprise, has promised to invest 500 million yuan (US$81.67 million) in the club and made clear its intent by signing a top manager. Xu has been retained by the club, which finished fifth last season Jimmy Foxx Jersey , as a consultant.


At his unveiling as the head coach yesterday, Eriksson said his job was clear cut — to guide the team into the top three in the 16-team CSL with an eye on the AFC Champions League.


The Swede coached Guangzhou R&F last season, which made it to the Asian club competition this season.


“After reaching the goal of leading Guangzhou R&F to top three in CSL, I was shown the project of SIPG Chuck Klein Jersey , and I think it’s the right time to move and take up a new challenge, very big,” said Eriksson. “The target for the club is of course to be better than last season. I think it’s very important to stress that this club has a lot of youth and very good football players.”


Eriksson, who reportedly will double his salary at SIPG to US$6 million Richie Ashburn Jersey , added that the club plans to buy new players both from home and abroad.


“As long as it brings us the results, we will continue to invest in the club,” SIPG President Chen Xuyuan said yesterday.


Sui Guoyang, the former director of football management at the Shanghai Sports Bureau Aaron Nola Jersey , will be the new manager of the club. Former East Asia coach Xi Zhikang and former Tottenham Hotspur and Leicester City goalkeeper Ian Walker will assist Eriksson, who has also coached the Mexican and Ivory Coast national teams.


The team has retained the emblem — only changing the name — and the jersey colors which is red. It will play its home matches at the Shanghai Stadium. Xu will no longer be involved in the management-related decisions. The club will hold its first training session on December 7. The new season will kick off in March.


City rival Shanghai Shenhua is also backed by real estate giant Shanghai Greenland Group.


“I hope the two clubs will strive for the development of Shanghai’s football,” said Chen. “It has been 20 years since Shanghai won a domestic league title. Whichever local team brings back the championship, it will be an honor for Shanghai.”