The 32-year-old Chelsea striker has TREBLED his wages after rejecting offers from Spurs, AC Milan and three American clubs.
Anelka has been banished from Andre Villas-Boas' first-team squad after handing in a transfer request.
But that is the least of his worries after agreeing a two-year contract with the Chinese Super League club worth £200,000-a-week.
Shanghai will be the ninth different club of Anelka's career.
His departure will leave the Blues with a striking shortage next month, particularly with Didier Drogba and Salomon Kalou heading for the African Nations Cup.
Villas-Boas said: "We still have Fernando Torres, Daniel Sturridge and Romelu Lukaku so that's enough."
at least he earning 200K - per week
wah lau eh.....I think all parties involved shd thanks avb for that training ground bust-up. 2m rmb per week in china would get you floating on cloud nine day in day out. It can mean a nice Chinese bungalow every week and by the end of two years, Anelka can buy more than a hundred of them.
This is why Anelka don't want to sign a new deal. Cos this could very well be his last big money move and without a transfer fee to pay, he gets to keep all the money.
Drogba may see and learn from it too...
his last big pay day before he retire, why not.
Eh Chelsea never receive any transfer fee?
Looks like it cos he has already been banished from the first team and left 6 months on his contract. From Chelsea's point of view, no point keeping a player who is no longer playing and just waiting to leave. Might as well let him go earlier by 6 months and can still save on his salary and used it to pay another new signing as well as relief a place from their allowed squad of 25 registered. If require a fee, I don't think he will be getting so much for a coming to 33 yrs old player...
Good money to play recreational soccer.
it goes to show how big those markets are.
the arabs, americans and chinese all seem to be paying more than the european leagues.
I think they can pay for such amount for one or two star player names but not collectively over a squad... The star name is, apart from quality, it's also to promote their club name which is usually an unknown brand. Also, a player in his prime probably won't go to china even if it's $200k a week. Normally it's those who are in their twilight of their careers wanting a last big money move and Europe won't pay such fee to them anymore kind...
But having said this, if it works out... I guess it suits everybody...
Didier Drogba wants a longer contract
CHELSEA are refusing to offer striker Didier Drogba the new two-year contract he believes he deserves.
The worry for manager Andre Villas- Boas is that a number of influential senior players at the club share Drogba’s view.
The situation is adding to the growing tension within the dressinglast weekend in a critical 3-0 win at Newcastle and he followed that up with an outstanding performance in the midweek Champions League victory over Valencia.
Drogba’s reward is the offer of only a 12-month deal due to his age.
Villas-Boas said: “Didier can be an inspiration but we have three strikers vying for the same position and Didier is just one.”
The Drogba dilemma doesn’t help Villas-Boas, whose abrasive managerial style hasn’t endeared him to a number of players. There is also a belief that fans’ favourite Frank Lampard is being marginalised.
And some players are dismayed at the treatment of Nicolas Anelka and Alex, who have been told to train away from the first team.
Little wonder if the strain is getting to the boss, who has already admitted that defeat against City tomorrow would end Chelsea’s title challenge – not words owner Roman Abramovich likes to hear in December.
Heading east: Nicolas Anelka (right) poses with a Shanghai Shenhua shirt
Stellar arrival: Anelka is celebrated on the club's website
Nicolas Anelka poses with the Shanghai Shenhua shirt after becoming the first big casualty of Andre Villas-Boas' reign. And Shenhua now hope to convince Didier Drogba to join Anelka in quitting Chelsea for China.
A Chelsea statement read: 'Chelsea Football Club and Chinese side Shanghai Shenhua have agreed terms for the permanent transfer of Nicolas Anelka in the January transfer window.'
The Chinese Super League club have confirmed that Anelka will join them on a two-year deal in January that is understood to be worth £175,000 per week.
The dream is now to partner the Frenchman with the Drogba. With the financial muscle of businessman Zhou Jun behind them - he made his fortune from an internet company which held the China licence for the hugely popular World of Warcraft fantasy game - Shenhua have shown they can compete with anyone. And Zhou says there is more to come.
'(Didier) Drogba, is a very excellent player. From the perspective of Chinese football, if these big-name players, these excellent players, are willing to come to China, we are willing to have warm negotiations and communications with them,' Zhou said.
'A lot of clubs are chasing Drogba. From our perspective... we also have to see what Drogba wants. So from our club's perspective, we have this to say - If he is willing to come, we will definitely welcome him.'
There is already another lucrative offer on the table from China for the Ivory Coast striker.
Drogba, whose contract at Stamford Bridge runs out at the end of the season, has been offered a three-year deal worth more than £30million - £200,000 a week - by Dalian Aerbin.
Aerbin's general manager Li Ming said he was waiting for a response on the offer, adding: 'Money is not the problem.
'Drogba is still one of the most popular soccer stars in the world, though he will be 34 years old. We have talked a lot with Drogba's agent and promised to provide him with a three-year contract.'
Aerbin were only formed in 2009 and have just been promoted to China's top division.
Chelsea are reluctant to offer Drogba more than a year extension as he will turn 34 in March.
Russian big-spenders Anzhi Makhachkala are among other clubs who see him as an ideal high-profile signing.
Aerbin are considering an offer for former France striker David Trezeguet as an alternative if Drogba turns them down.
Who wants me? Didier Drogba is after a new Chelsea deal, but is wanted in China
Shenhua have confirmed they are also interested in Drogba but have not revealed details of their offer as they revel in the signing of Anelka.
Club director Zhou told reporters near the club's Pudong training ground: 'People are aware of Anelka's Chelsea yearly salary which is around 5.8 million euros. So when he comes to China it definitely won't be below this figure.'
The signing of Anelka heralds a massive step for Chinese soccer - and a growth mirroring that of the nation itself.
'It's like with the opening up of China,' Zhou said. 'We needed to bring in the good stuff from foreign countries for us to learn from.
'The benefits Anelka brings to the club are obvious. Firstly it will definitely increase the squad's attacking capability.
'Secondly, the arrival of such a high level football star like Anelka in a young club like Shenhua will increase the hopes of the young people and create an example for them to follow.
'It will definitely increase the club's competitiveness.'
The club's captain Yu Tao said on Twitter: 'It is impossible not to be excited! Warm welcome to our new team-mate!'
Goalkeeper Wang Dalei added: 'Tell Anelka he made his new team-mates really proud!'
Shenhua have a reputation for signing ageing stars, having previously welcomed Ruben Sosa, Jorg Albertz, Carsten Jancker, Junior Baiano and Dejan Petkovic.
Shanghai spokesman Ma Yue did not reveal the fee but said Anelka could start playing in January 'if all contract details are 100 per cent confirmed'.
West Ham had hoped to take the 32-year-old Anelka on loan for the rest of the season but could not match the financial muscle of the ambitious Chinese side, so the Chelsea striker is heading east in the January transfer window.
AC Milan and Tottenham had also enquired about Anelka, while three Major League Soccer teams - New York Red Bulls, Philadelphia Union and Montreal Impact - were also disappointed.
The rise of the Chinese league was underlined earlier this year when Guangzhou Evergrande signed Dario Conca from Brazilian side Fluminense on a huge contract.
Argentine forward Conca, who is little known outside of South America, signed a deal worth about £130,000 a week.
Villas-Boas is set to cull even more big names from his squad in January, with Salomon Kalou looking likely to leave.
Full-backs Jose Bosingwa and Paulo Ferreira are also available for transfer, while uncertainty now surrounds Frank Lampard, who is no longer first-choice in the team.
Home sweet home: The Hongkou Stadium where Shanghai Shenhua play
drogba is good but he is showing sighs of 'aging'.
chelsea should let him go. they have a lot of players to get rid of cole, malouda, terry etc.
so many!!!