CFA reportedly close to capping spending sprees

China's big-spending soccer market looks set to finally cool down, with authorities reportedly planning to cap transfer fees and salaries.

According to Xinhua, the Chinese Football Association will limit first - and second-tier clubs to fees of 45 million yuan ($6.5 million) for foreign players - a miniscule amount in today's market, comparatively speaking - and 20 million yuan ($2.8 million) for domestic players.

Details of the salary cap, as well as proposed restrictions on club investment and player bonuses, have not been released.