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Beijing, Jul 3 (EFE).- Spaniard Jose Antonio Camacho, who was fired last month as coach of China's national soccer team, will receive 6.4 million euros ($8.32 million) in severance pay, Chinese media said Wednesday.
The Chinese Football Association hired Camacho in August 2011, promising to pay him around 5.5 million euros if he were sacked prior to the end of his three-year contract.
At the time of his firing last month, the CFA told the 59-year-old Camacho that it could only afford to give him 3 million euros.
But after protracted negotiations involving the CFA, its corporate partners and Camacho's lawyer, the association agreed to a higher payout, Chinese daily Titan Sports reported.
Chinese soccer fans had little to cheer about during Camacho's nearly two years at the helm of the national squad.
Besides failing to qualify for the 2014 World Cup, the team plummeted 30 spots in the global rankings and suffered its worst-ever defeat: an 8-0 pasting by Brazil.
In Camacho's defense, analysts point out that Chinese soccer is plagued by the lack of young prospects and has been hurt by a series of match-fixing scandals.
Retired soccer star David Beckham, who works as a goodwill ambassador for the CFA, defended Camacho last month in an interview with Chinese state television, describing the Spanish coach as "very professional and capable."