Vietnamese Football 2026: When the 'Thirst' for Titles Meets the 'Storm' of Commercialization

On an August evening, at the national My Dinh Stadium, the roar of over thirty thousand spectators seemed to tear apart the Hanoi sky. The national team had just scored a decisive goal in the third minute of stoppage time, sealing a 2-1 victory over Thailand in an international friendly. In that moment, emotions erupted, but for me, a man who has spent five decades observing Asian football, that moment was not just a victory in a match. It was a reflection of a football nation standing at a historic crossroads, where pure sporting ambition begins to intertwine with complex commercial calculations. Vietnamese football has never had as much money as it does now. V.League clubs are recruiting foreign players with contract values reaching millions of US dollars. Major sponsors, from banks to real estate conglomerates, are pouring money into teams as an effective brand promotion channel. But the stronger the money flows, the more pressing the questions about sustainability and identity become. Are we building a solid football foundation, or are we merely creating a financial bubble that could burst at any moment? Look at the current transfer market structure. Big clubs like Hanoi FC or Cong An Hanoi (CAHN) do not hesitate to spend tens of billions of VND on a single domestic player with a reputation. This creates an arms race in player values, pushing domestic wages and transfer fees to a level that can be described as irrational compared to the actual revenue of most clubs. I once said: "Rumors never die, they just change owners to survive." And in this context, rumors about the enormous salaries of stars are replacing stories about tactics and youth development on the front pages of sports newspapers. The core problem lies in the imbalance between investment and revenue generation. While European clubs can rely on broadcasting rights, ticket sales, and merchandise to offset costs, Vietnamese teams still depend too heavily on money from wealthy owners and sponsors. This model is as fragile as a sandcastle. When the economy falters, sponsors withdraw, and immediately, high-paid players become a burden. We have witnessed this scenario many times in regional football history, from Thailand to Indonesia. But there is something that I believe analysts often overlook: the rise of a well-trained young player class. Academies like PVF, Nutifood Academy, or HAGL Academy have begun to produce quality products, not only in technique but also in tactical thinking. This is the "shadow signature" of Vietnamese football — an intangible asset that not everyone can see, but which will determine our future. While big clubs rush into the battle of buying expensive players, these academies are quietly building a generation of players who could replace them within the next 5 to 10 years. However, the story of youth development also has its dark side. The immediate pressure for results from owners makes coaches reluctant to give opportunities to young players. They would rather use an experienced foreign player than place their trust in a raw young talent. This creates a vicious cycle: young players don't get to play, they don't develop, and the national team lacks new blood. I have witnessed many bright talents being wasted simply because of the short-term strategies of clubs. Another aspect I want to address is the change in tactical approach. The trend of using three center-backs is becoming popular in the V.League, but I believe this is not progress. It is just a way for coaches to avoid risk when the four-man defense gets breached. Instead of building a proactive defensive system, they choose passive defense with numbers. This not only makes the play boring but also does not help the development of young defenders, who need to learn how to defend in open spaces rather than just packing the penalty area. Looking ahead, I believe Vietnamese football is standing before a historic opportunity. Fan interest has never been greater. National team matches are always packed, and television viewership rates are among the highest in the region. This is a solid foundation to build a truly professional football culture. But to do that, we need to change our mindset. Owners need to be more patient, managers need to be more transparent, and coaches need to be braver in giving opportunities to the younger generation. I do not believe in empty promises about Vietnam soon qualifying for the World Cup. That is a long-term goal, requiring systematic investment and persistence over decades. But I do believe that if we do the basic things right — developing young players, building a sustainable financial foundation, and creating a healthy competitive environment — then success will come, not as a coincidence but as an inevitable consequence. And when that happens, moments like the August evening at My Dinh Stadium will no longer be rare tears of joy, but a part of Vietnamese football culture. In my 50 years of observing Asian football, I have witnessed many football nations rise and then fade. The secret to sustainability lies not in lucrative contracts or resounding victories, but in building a healthy football ecosystem, where every component — from players, coaches, to managers and fans — has a role and is respected. Vietnamese football has the important pieces in its hands. The question is whether we have the wisdom and patience to assemble them into a complete picture. That is a question only time can answer, but I believe the answer is within our reach.