Report: Hulk to join Shanghai SIPG for record €50M fee

Zenit St Petersburg forward Hulk will complete a €50-million move to Chinese club Shanghai SIPG after undergoing a medical Wednesday, according to the BBC.

In the latest show of financial posturing by the Asian country, Shanghai - which is managed by Sven-Goran Eriksson - is set to break or equal the €50 million that Jiangsu Suning paid to sign Brazilian Alex Teixeira from Shakhtar Donetsk in January. Suning beat Liverpool for the player's signature.

Chinese clubs spent more than €200 million in that winter transfer window - a statement from a country that's getting serious about the sport.

China's president, Xi Jinping, is a football fan who has visions of turning the country into a juggernaut on the international stage. Currently ranked 81st in the world, China announced plans to become a "first-class football superpower" by 2050.

Hulk would be the latest of a long line of Brazilian footballers to play the game in Asia. He's expected to earn $12 million (€10.8 million) per season at Shanghai, according to Russian news agency TASS, and Zenit could also expect to receive extra bonuses if the 29-year-old scores more than 15 goals in his first season.

Hulk recently extended his contract with Zenit until 2019. He has scored 77 goals across all competitions since joining the club four years ago.