The future of Navibank Saigon football club is determined when it is purchased by the Ninh Binh-based Xuan Thuy Investment and Development Corporation.

Players of Navibank Saigon FC.

According to Tran Anh Tu, Chairman of the HCM City Football Federation, Navibank Sai Gon and Xuan Thuy Investment and Development Corporation met on October 16 to negotiate the acquisition. However, the contract has been drafted, not yet signed.

Under the draft contract, Xuan Thuy Investment and Development Corporation will pay VND21 billion ($1 million) to buy all 25 players and the coaching staff of Navibank Sai Gon. However, all players of Navibank Sai Gon said they did not know about this transfer.

A player also said the team has not had a specific schedule and players have not been paid for two months. Their bonus from the last football season has yet to be disbursed.

According to the contract, Navibank Saigon’s stars like Tai Em, Quang Hai, Viet Cuong, Long Giang and Duoc Em are in the transfer list. However, due to Xuan Thuy Investment and Development Corporation’s close ties with chairman Nguyen Duc Thuy of Saigon Xuan Thanh FC, these players will play for Saigon Xuan Thanh from the 2013 football season.

This is consistent with the claims of executive director Tran Tien Dai of Saigon Xuan Thanh FC about the club’s recruitment of 5 players who played for the national team of Vietnam from the 2013 season.

The goal of this FC in 2013 is to create opportunities for its players to compete in the V-League, the National Cup and the AFC Cup.

In addition, after losing outstanding players like Trong Binh, Huynh Kesley, Nguyen Rogerio, Van Tuan, Quoc Thanh and Dang Van Robert, this team needs to recruit new players to prepare for the new season.

Earlier, because of financial difficulties, Navibank stated to give the Navibank Saigon FC back to the HCM City Football Federation.

According to latest news, the contract have been signed.

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