Following the devastating relegation in the 2025/26 season, Becamex TP.HCM is embarking on a thorough rebuild with numerous changes spanning from management to on-field performance. This four-time V-League champion is currently outperforming its rivals in the 2026/27 First Division campaign.
From another perspective, relegation might be the necessary shock toBecamex TP.HCMlook at itself. At least, the first signs after the relegation are bringing hope.

Coach Gerard Castano has a very stable squad to compete for a ticket to the V-League. Photo: Becamex TP.HCM
Unlike previous years, Becamex TP.HCM is not diving into the transfer race with "blockbuster" signings.
Instead, the club chose to retain its core of local players consisting of quality names like Minh Khoa, Vĩ Hào, Minh Trọng, Tùng Quốc, and Minh Toàn.

Keeping many key players is an initial success for this club. Photo: Becamex TP.HCM
If we look at the level of the First Division, the current squad of Becamex TP.HCM is still among the strongest. Minh Khoa and Vĩ Hào are both highly promising players in Vietnamese football. National team member Việt Cường is maturing day by day. Tùng Quốc, Minh Trọng, Minh Toàn, Thành Nhân... all have experience fighting in the V-League.
Retaining that core means the team still maintains a foundation strong enough to compete for promotion. More importantly, Becamex TP.HCM is showing a change in management thinking.
The appointment of coach Gerard Albadalejo Castano along with an entire Spanish staff and a commitment not to interfere in professional matters is something the club's fans have been waiting for a long time.
Mr. Gerard once helpedNinh Binhperform very impressively in the first half of the 2025/26 V-League season with a modern possession-based style that was still very direct. If given enough time, he can certainly help Becamex TP.HCM rebuild its identity.
The fact that the team is trying out Hà Đức Chinh or the possibility of reuniting with striker Gustavo also shows a fairly clear direction. Gustavo scored 7 goals for Ninh Binh last season and understands Mr. Gerard's philosophy very well. Meanwhile, Hà Đức Chinh, if he regains his form, remains an experienced striker suitable for the First Division environment.
Of course, the path back to the V-League will not be easy. Becamex TP.HCM's biggest rival is PVF CAND, a team that also just got relegated and has very strong investment potential. Not to mention that the First Division next season will become more competitive as it returns to a 14-team format with a long and grueling schedule.
Just one period of decline could endanger the promotion ambitions. But considering all aspects, Becamex TP.HCM remains a top candidate.
For Becamex TP.HCM, the painful relegation might be the most appropriate time for the team to reflect, make fundamental changes, and start a new cycle. Becamex TP.HCM is reminding many people of how SHB Đà Nẵng was relegated in 2023 and then quickly returned.