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Money-laundering, embezzlement, exaggerated attendances, the Economist takes a peek at football

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This week’s Economist has a most curious article on the football business, entitled “Welcome to the beautiful game.  Football clubs can easily be used as stealing machines. Here is an instruction manual. The stories are real, but most details are concealed”.

They assert, “It is a good time to enter the football racket. Banks are less generous and sentimental about loans. Tax officials are less lenient, too, as Rangers, a big Glasgow club, discovered”.

“Set up a holding company (or a nest of them) in a discreet jurisdiction, as many owners do, and you have a money-laundering and embezzlement machine at your disposal.

“Exaggerating the attendance at matches lets you run some of the dirty takings from your previous career through the turnstiles, turning them into legitimate income (this particular ruse works best if you buy a middling club, where games are not routinely sold out).”

They conclude, “Some national associations do a spot of due diligence on new owners, but this is unlikely to interfere with your plans.”

Brazil, Balkans, Russia, Serbia and Bulgaria all get a mention but there was only the one club got a name check.

Nest of holding companies in discreet jurisdictions, money-laundering, embezzlement, exaggerated attendances, dirty previous businesses!!  Read it and weep, football fans, just don’t expect the blazers to watch out for your best interests.
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  1. If Lenny is really going to loan out Tony Watt despite losing Lassad and Miku and most likely Hooper he needs his head looking at

  2. coatbridge paper bhoy on

    “Exaggerating the attendance at matches lets you run some of the dirty takings from your previous career through the turnstiles, turning them into legitimate income (this particular ruse works best if you buy a middling club, where games are not routinely sold out).”

     

     

    Well said that man.

     

    Gb

  3. BOBBY MURDOCH'S CURLED-UP WINKLEPICKERS on

    PAUL67

     

     

    Cancelled my subscription to The Economist a coupla months back

     

     

    So then they finally write an interesting article.

     

     

    Spiteful wretches….

  4. BOBBY MURDOCH'S CURLED-UP WINKLEPICKERS on

    coatbridge paper bhoy

     

     

    Well done,buddy.

     

     

    Nip out to the pub and reward yourself wi a pint.

     

     

    Put it on my slate.

  5. from last post

     

     

    is everyone smoking dope, the boys Watt has scored one goal since the barca game and that does not inspire confidence. he can go on loan for a season then we’ll know what he’s got, same goes for mcgeogh and others, if they do well they are a year older and have gain experience, if not we move them on for whatever we can get and look to the next prospect, keeping them in the stand or on the bench is not good for them or us.

     

     

    think its better us celtic fans get used to seeing our better players go, hopefully we have a good success rate in the cycle of selling high and buying low and people stop talking nonsense about abandoning this policy for quick fit players. the reason we don’t do that now is because MON done it and it put us into a sh@te load of debt that has taken 5 years and the current policy to address.

     

     

    for the first time in about 5 years celtic have been able to invest in the playing squad and stadium in a big way and its with money in the bank. I hope a couple of new players will be added to the squad and the first phase of the celtic triangle gets paid for and we’ll still be in the black

     

     

    onwards and upwards bhoys and ghirls hail hail

  6. Many Players Have Been Labelled ‘Poor Trainers’….

     

     

    But Come To Life In Competitive Games..

     

     

    A Prominent Current Example Of Such A Player Is Carlos Tevez….

     

     

    All Right Having ‘Eager Beavers’ In Training….

     

     

    Like Peter Grant,Back In The Day…..

     

     

    But We Expect A Performance, When It Comes To Meaningful Matches….

     

     

    Certain Players Need To Train More,Because They Are Not Natural Athletes….

     

     

    ‘Manufactured’ Players,In Truth…..

     

     

    Mr Lennon Would Be One Such Example

     

     

    Right..? Damned Right..

  7. Would be surprised if Lenny let Watt go on loan. There is 7 of last years squad gone, ok Murphy was on Loan so in actual players available for selection we have 6 out and 2 in so we are 4 down with maybe Hoops to go as well. If Tony & Dylan go on Loan we would be 7 down, that would be crazy/

  8. coatbridge paper bhoy on

    bobby murdoch’s curled-up winklepickers

     

     

    12:09 on 14 July, 2013

     

    coatbridge paper bhoy

     

     

    Well done,buddy.

     

     

    Nip out to the pub and reward yourself wi a pint.

     

     

    Put it on my slate.

     

     

    Thank Bmcuwp, toasting myself with Heineken and whisky port ?. Should sleep well tonight .

     

    Gb

  9. ‘Brazil, Balkans, Russia, Serbia and Bulgaria all get a mention but there was only the one club got a name check.’

     

     

    #########

     

     

     

    Presumably because one cannot defame the dead.

  10. Morning all from a sun drenched G20.

     

     

    Sad to read about the likely departure of Tony Watt. Working in Lanarkshire as I do there are a few stories about the player that , frankly,wouldn’t seem outrageous about any young man not earning his living as a professional athlete. I tend to agree with others here this morning that moving somebody on for non football reasons is wrong but having watched Celtic as long as I have it is sad to think of the number of young players who’ve made brilliant early impacts- Crainie, Creaney, Burchill – and who’ve then shot their bolts very quickly. Only Aiden McGeady recovered after the inevitable downturn to become close to the player he looked in his early games. Whatever the reasons for his failure to kick on post-Barca ( and he still looks a decent player to me) I’d now be surprised if he turns out to be a top player. I would be delighted to be proved wrong.

     

     

    As for this week’s game I suspect I am not alone being glad when it’s over. On the day of the draw I said there was a potential for another Artmedia – the Reds look to be a team which can break quickly- and Celtic’s increasingly disjointed display’s pre season have done nothing to relieve my feelings of unease.

     

     

    But the real worry about Wednesday’s match is the off field aspect. From what I have seen and heard the ‘peepil’ seem to be almost de-evolving , their bigotry and hatred plumbing new depths. What looked like a tricky tie against something skin to blood brothers in a friendly atmosphere now looks something else.

     

     

    Jimbo

  11. If Watt & McGeouch go out on loan its because they have no future at CP. When did we last loan out a player who has came back and established himself in first team?

  12. BOBBY MURDOCH'S CURLED-UP WINKLEPICKERS on

    coatbridge paper bhoy

     

     

    Good man. Just as long as it isnae Peroni….

  13. Stephboy the manager hardly played watt after the barca game. In fact in some games he appeared he was brought on as a very late sub. If Hooper goes then it would be crazy to loan him out. This one will come back to bite Lenny big time , I hope PL can talk some sense into him.

  14. BOBBY MURDOCH'S CURLED-UP WINKLEPICKERS on

    STEPHBHOY

     

     

    I doubt you will find a post from me criticising Neil before,but on this one I am unwilling to back him.

  15. BOBBY MURDOCH'S CURLED-UP WINKLEPICKERS on

    CORKCELT

     

     

    Congratulations to all concerned on

     

     

    THE MAGNIFICENT SEVEN!!!!!!!

  16. !!Bada Bing!! on

    The worry for me is the lack of players becoming first team regulars thru Lennoxtown.

  17. !!Bada Bing!!

     

    12:26 on 14 July, 2013

     

    The worry for me is the lack of players becoming first team regulars thru Lennoxtown.

     

     

    The worry is the lack of opportunities they are given. Youth league and cup double winners for four successive seasons and only James Forrest given enough games to become a regular.

  18. Consider The Pampering Celtic Lavished On Feruz Islam….

     

     

    Compare And Contrast With Lennon’s Treatment Of Tony Watt And Aidan McGeoch….

     

     

    Different Strokes For Different Folks….

     

     

    And McGeoch Was Brought Back Way Too Early,After A Serious Head Injury….

     

     

    Which Does Not Appear To Have Been Fully Recognised For What It Was….

     

     

     

    Our Medical & Physio Team Does Not Inspire Confidence….

  19. I agree with some of the previous posters Why all the wailing and gnashing of teeth over the prospect of Tony Watt going being punted or loaned. Seen it all before a young player has a couple of decent senior games and suddenly we proclaiming him as the new maestro. Give it a rest if Lenny and Johan don’t believe that he has what it takes to be a 1st team regular at Celtic for what ever reason then that’s good enough for me.

     

    Hopefully if it is a matter of indiscipline or lack of application the ‘alleged’ threat of being loaned out may be the clubs last attempt to save his career with CFC -‘shape up or be prepared to be shipped out’

  20. BOBBY MURDOCH'S CURLED-UP WINKLEPICKERS on

    AGENT CRAIG

     

     

    Bad timekeeping and an overly-heavy fine at an airport?

  21. gherrybhoy57

     

     

    12:06 on 14 July, 2013

     

     

    Kojo and TSD

     

     

    Is there not a Tridentine Mass being said somewhere that you should both be attending? Like on Pluto. Richard Branson could arrange the transport. I’m sure a few on here would be delighted to assist.

     

    Mea maxima culpa!

     

     

    ~~~~~~~~~~

     

     

    Interested,Kojo ?

     

     

    Ah Hiv Richard’s Mobile Number Oan SpeedDial……

  22. Clashcitybhoy on

    Paul 67,

     

    I saw this article the other day, as being the sad git I am, I occasionally read the Economist.

     

    Surprised none of the MSM have picked up on it , maybe they have been busy!

     

     

    I suspect when they do, they will build the narrative around some club in Romania / Greece / Bulgaria etc who went into liquidation, didn’t / couldn’t pay their players / colluded with officials / made payments to officials of other clubs etc

     

     

    Makes you glad nothing like that would happen here.

  23. The Singing Detective Demands The Resignation Of Campbell Ogilvie

     

     

    12:29 on 14 July, 2013

     

    Consider The Pampering Celtic Lavished On Feruz Islam

     

    ====

     

    Feruz Islam was on a lot of senior clubs radar for quite a while. Hence Chealski paying him ridiculous sums of money to sign up. Celtic were rightly trying to protect a potential future major asset by pampering the boy and his family. The English press are talking about him being worth millions now with both Man u and Arsenal sniffing about if he doesn’t resign for Chelsea. Tony Watt does not fall into the same category as young Islam. He may well have the same arrogant ‘F you’ attitude Islam showed to Celtic when the big English teams came calling who knows ?. However If Lenny says Watt goes he goes – simples.

  24. the singing detective demands the resignation of campbell ogilvie

     

     

    12:29 on 14 July, 2013Consider The Pampering Celtic Lavished On Feruz Islam….Compare And Contrast With Lennon’s Treatment Of Tony Watt And Aidan McGeoch….Different Strokes For Different Folks….And McGeoch Was Brought Back Way Too Early,After A Serious Head Injury….Which Does Not Appear To Have Been Fully Recognised For What It Was….Our Medical & Physio Team Does Not Inspire Confidence….

     

     

    Brought back to early after a head injury….I’m sure our medical staff are better qualified than your good self to make that decision…. Wise up, do you honestly think they would compromise the boys well being…

     

     

    Ayrshire is Green and White

     

     

    HH

  25. Kayal33

     

     

    liam miller, I think, is the last player we loaned out who came back and established himself. being loaned out does and should not mean the end for a young player, but in most cases it does.

     

     

    tony watt will only be good enough to play for celtic if he is given a sustained run in the team, but his contribution last season does not fill me with confidence that is not good enough to do that, not yet anyway.

     

     

    we shall see

  26. p.s. if tony went on loan to a championship team or even league one team and scored 30 + goals he would be wearing a celtic top in the first team before long

  27. I loved Lenny as a player .

     

    I admire him as a human being.

     

    I believe he is learning his trade and doing ok with Celtic.

     

     

    He is lucky he can cut his teeth and make mistakes due to the Zombies not being in our league.

     

     

    He had a magical 1st season in the CL.

     

     

    He is not the finished article .

     

     

    I don’t have blind faith in him.

     

     

    I do have faith that if he is watching Watty every day and thinks that it is better to loan him out , then that is the correct thing to do.

     

     

    Lenny does not bare grudges with players.

     

     

    Although I’m told that my hero MON did.

     

     

    TT

  28. The issue for me is not whether Watt goes or not. Who is going to provide competition and goals up front this season?

     

     

    Hooper apparently gone, Lassad and Miku never worked out, Bangura still a (expensive dud) Celtic player, but we will look to punt him, Balde untested looked poor in preseason (albeit not alone) Stoles and Samaras. So Stokes is our only real goal threat left and many on this blog would have him gone too.

     

     

    We need bodies in now, simples.

  29. Why does Tony Watt being loaned out mean the end of his Celtic career??

     

     

    A season where he plays 30 games for another SPL club would be great for his development.

     

     

    It may also make him realise what he has at Celtic (if he indeed has behavioural problems).

     

     

    I think all our u-19 team from 2 years ago (I.e. Watt, McGeough, Twardzik, George, Irvine) should be loaned out to other SPL clubs. Otherwise they’ll only get a handful of appearances for us!!

  30. "THERE IS ONLY ONE TEAM IN GLASGOW" aka "@67MOULDY67" on

    If Watt & McGeouch go out on loan, then obviously the manager knows what he is doing, by shedding squad

     

     

    Perhaps a last chance for them both

     

     

    Go and prove your worth else where for a year, more game time

     

     

    Then review it, either they come back stronger or they are moved on

  31. Joe Filippis Haircut on

    If CQN is truly representative of the Celtic support I get the feeling some supporters are only a couple of bad results from calling from for the managers head.I hope I am wrong last season I thought we over performed especialy in Europe, now we must start again without big Victor and Hooperman in my opinion now is the time to get behind the manager and the team our new players will take time to settle in having to play in the CL qualifyers does us no favours but in Lennie I trust .h.h.

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