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.
[calameo code=000390171b241bb2703f4 lang=en page=132 hidelinks=1 width=100% height=500]

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  1. I only reached page 5 before giving up due to the less than affable exchange of views (insults actually) on various Celtic and non Celtic related topics.

     

    Kudos to those who posted reasonable opinions without rancour and were prepared to listen to other viewpoints.

     

     

    So let me stick my head up above the parapet and throw out some views before retreating in the face of the slings and arrows of outrageous and outraged CQNers.

     

     

    Harry Truman had a sign in his office that read:

     

    The Buck Stops Here

     

    I know that to be a fact because Auldheid carved it and BRTH delivered it.

     

     

    The religion, nationality or policies arguments re our 44th President are of little significance compared to his disinterest in actually governing the country.

     

    No buck can stop at his desk as he is constantly absent from it leaving decision and policy making up to others in the cabinet or congress.

     

    The sign recently placed on his desk by Margaret McGill now says:

     

    “A Big Bhoy Done It and Ran Away”

     

     

    I believe that the Zimmerman trial was an ill conceived and unnecessary costly burden on Florida taxpayers.

     

    Not until the WH, the race pirates and profiteers and a politically astute and ambitious state attorney general got involved and injected a racial prism into the case were charges proferred. By then the evidence pool was poisoned not least by an MSM who distorted the 911 calls, misportrayed the characters and timeline involved, deliberately stirring up racial tensions purely for ratings. They weren’t interested in a small local tragedy where two lives have been lost. They wanted ratings and a story.

     

    Whether we agree with the law, it is the only basis by which the jurors could judge the case and their decision verifies the original decision not to prosecute.

     

     

    Hooper. If he wants to leave let him go but on our terms. If he is willing to accept the terms offered then I will give him my loudest support.

     

     

    Cliftonville. I spent my first year at high school there, St Patrick’s Coatbridge, and have lots of fond memories. The school and most of the factories surrounding it have been demolished and I am sure that Celtic will also demolish the Belfast outfit of the same name.

     

     

    After another gorgeous day in the Great Garden State it is time to water my tomatoes, have a seat on the deck and wait for dinner with a beer. Tonight’s choice is a single Modelo which I found near the back of the fridge.

     

     

    I will face any contentious responses after dinner and when hopefully everyone is asleep.

  2. Clashcitybhoy on

    Gherrybhoy67, Minceyheidman

     

    I have no problems buying in top players or future stars, but , but we should at least be able to produce good club players who can do a job in the SPL, and then use our transfer budget to get 2/3 imports who can cut it at Euro level.

     

    The fact that we are having to sign squad players externally, suggests one thing isn’t right.

     

    I don’t want to pick out individuals, but surely we should be able to produce in house a better keeper than Zaluska, or , a Lassad , or Gershon to allow us to use our budget on ‘guaranteed quality’.

  3. Clashcitybhoy on

    fanadpatriot

     

     

    23:57 on 14 July, 2013

     

    Brown,Riordan ,Thomson ,Millar Murray Caldwell,Whittaker,would any of these players be given a chance at Celtic ,as a youth player.Hence the reason why the scouts of Hibernian FC were able to convince them to sign.Fact.

     

     

    ————

     

    I don’t think we would have noticed them

     

    I coached at youth level in East of Scotland for 10 years plus, and regularly had approaches from Aberdeen , Hibs, Hearts and Livi about players, but sadly no one from Celtic.

  4. Clashcitybhoy

     

    Don’t make that public to Celtic as I believe their scouts think they are the Bees Knees.

  5. ASonOfDan

     

    19:57 on

     

    14 July, 2013

     

    Ireland needs genuine republican politics –

     

    Adams

     

    News

     

    July 14, 2013

     

     

    pretty powerful statements.

     

    i like listening to Adams speak, i might be in a minority on that one, but he is a clever clever orator.

     

     

    * * *

     

     

    Gerry Adams? It is rather insensitive to hail this man at a time when he has been linked to the brutal Jean McConville murder. She was murdered by the most heartless individuals.

  6. Clashcitybhoy

     

    Agreed but we as Celtic supporters have to face reality now and again.

     

    Win the league on a consistent basis and do our best in Europe as we cannot hold onto our best players who because of exposure in Europe are sought after, or promote our youth as far as we can and anything in Europe is a bonus.

     

    We are not feared in Europe as we once were due to many different reasons, so my question still remains domestic success and domination or champs league?

     

    This will determine who we sign in my opinion.

  7. fanadpatriot. you beat me to it, were we sleeping in relation to Fletcher, McCarthy & McArthur with that trio in the team we wouldn’t have to be scurrying around as we are at present. We could have bought all 3 for around £3-4m if my memory serves me right. I hope that we have able replacements lined up for those who have left or are leaving.

  8. houl yer wheest

     

     

    23:58 on 14 July, 2013

     

     

    Thanks for the advice mate. I’m a bit old now for wearing strips so that won’t be an issue :-)

     

     

    Think we’re looking to head to West Belfast first and then get a taxi to Solitude.

  9. Clashcitybhoy on

    Minceyheidman,

     

    Off to my kip, but is the pressure on us to win / compete any more than for Bayern, or Barca, or to a lesser degree Ajax, all of whom have highly successful youth systems and, results on the park?

     

     

    I still think there is a lack of accountability about youth development, and it is easy to offer the excuse of it is a 5 / 10 year process.

  10. What is the Stars on

    John O’Neil

     

    Surely nobody takes Adams seriously anymore

     

    As was said in Dail Eireann recently

     

    The only person who believes Gerry Adams wasnt in the IRA is…….. Gerry Adams

  11. 'crushed nuts?' 'Naw, Layringitis!' on

    Given the kettling that went on against the GB walking to a game, it’s good to see that scotplod are at least consistent in dealing with unruly mobs in NI, they didn’t just stand back and let be-sevcoed jerseyed morons lob bricks and petrol bombs, no way! They got in around the biggest incidence of public disorder since the London riots and made 30 arrests!

  12. Genuine ?,has Anthony Stokes signed new contract,if not is he eligible to play on Wednesday ?

  13. Clashcitybhoy on

    Fanadpatriot

     

    I think Stokes is on a 3 year deal with a 4th year option which is activated either by him playing x games in year 3 , or, by us to choosing to activate it.

     

    Either way, he is here this season

  14. My Dear GG….

     

     

    Do Not Try To Inject Any Objectivity Into The Proceedings….

     

     

    It Will Never Catch On….!

     

     

    The Part Played By Obama In The Zimmerman Case……

     

     

    Is Nothing Short Of Scandalous…..

     

     

    “If I Had A Son…He Would Look Like Trayvon”…

     

     

    Disgraceful Intervention….

     

     

    Even Worse Than His Criticism Of The Policeman Involved In The Professor (Of Black Studies) Louis Gates…..

     

     

    Arrested For Questioning About Breaking Into His Home…..

     

     

    After A Concerned Hispanic Neighbour Called The Police…..

     

     

    Obama Referred To It As “A Learning Moment”….

     

     

    What An Arrogant POS !

     

     

    Can You Imagine If The Roles Were Reversed…. And It Was George Bush Making The Comments…..?

     

     

    Never Mind All The Time He Has Spent On The Golf Course….

     

     

    Or Away On Jollys…..

     

     

    The Matter Of His Religion IS Of Importance……

     

     

    He Has Declared That He Is A Christian…

     

     

    But Ever Since He Came To Office…

     

     

    His Every Action Has Been To Empower The Muslim Brotherhood……

     

     

    Both Home And Abroad…..

     

     

    And The MB’s Stated Political Agenda Is To “Destroy Western Civilisation From Within….

     

     

    By Their Own Hand..”

     

     

    And Achieve The Global Caliphate….

     

     

    And His Every Action….

     

     

    Alienating US Traditional Allies Like UK,Poland,Cz….

     

     

    And Empowering US Enemies/Frenemies..

     

     

    And Trashing The US Economy……

     

     

    Driving The Coal Industry Out Of Existence With Tariffs….

     

     

    Blocking Off-Shore Drilling….

     

     

    Opposing/Delaying The Keystone Pipeline….

     

     

    Trashing The Military…..

     

     

    Sacking And Replacing Vitually All The Top Military Leaders Across The Sevices..

     

     

    Etc Etc…..

     

     

    Some Folk On Here….

     

     

    Need To Give Their Heids A Shake…..

     

     

    To Dislodge All The Cotton Wool…..

     

     

    Rant (Paused).

  15. Clashcitybhoy 00.05

     

     

    Its not a straightforward process to nurture a young talent through to CL quality player. Barcelona have had their famed academy since the early 1990s and even they buy at the top of the market to augment their graduates.

     

    When you say “do a job in the SPL” you mean WIN the SPL. Celtic managers don’t have the time to watch a good crop of youngsters come through together like the “Kelly kids” pre Lisbon. They were promising for years winning nothing.

     

    Who or what is “guaranteed quality?” Is Zaluska a bad keeper?

     

    I honestly feel NFL has tried to tackle these issues and that we are well set for this and future seasons. Nothing is guaranteed. We are Celtic fans ffs. HH

  16. The negativity on this site in recent days has been laughable. May Celtic shut all the moaners up. They say nothing good about our club. Thank goodness for those who have defended Celtic recently.

     

     

    What is the stars, some people here show utter contempt for the victims of violence.

  17. Joe Filippis Haircut

     

    12:47 on

     

    14 July, 2013

     

    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

     

     

    JFH,just what makes you think that Lenny should never have the threat of the “Sack”mentioned about him?.We are at the moment in a far worse position than last season.Most fans want improvement,maybe you are different.

     

    I love Lenny as much as the next guy,but I am seriously doubting his ability to take us up a level.Maybe I should be tarred and feathered for such sayings,but I stand by them.Open your eyes,for gods sake.

  18. Turkeybhoy, i think this year we are victims to our own success in the CL last year. Big vic sorry to see him go but great money only if we spend it strengthening the team. Hooper, maybe a lesson that if any player refuses to sign a contract with 2 years/18 months to go we cash in and reinvest. I wonder if there is frustration from NL at present, he says he has no idea of budgets, and hasn’t spoken to Hooper, is it to throw off the media or is it true?

  19. The Singing Detective Demands The Resignation Of Campbell Ogilvie

     

    00:42 on 15 July, 2013

     

     

    TSD you have either a very short memory or have only been born into the faithful fairly recently.

     

    Let me throw just three fairly recent names at you. Marshall, Gould, Douglas.

  20. Turkeybhoy

     

    The cheers have only recently died down after our cup win.

     

    The ribbons haven’t faded on the cup and we have yet to raise the leagues flag at Paradise.

     

    Apart from a fairly meaningless pre season training exercise in Germany, how have the manager’s skills diminished in a few short months to give you concern about his ability to beat Cliftonville and replace the players who have either left or are in a huff because no big club is prepared to match Celtic’s evaluation?

  21. Neustadt-Braw on

    that wurbling Terry the Tec! is it just me or does he sound like Benny Hill on something like a high protein drink …what a twat! …

  22. gherrybhoy57 on

    Neustadt-Braw

     

     

    I can well imagine him inhaling from a helium balloon just before he speaks.

  23. SDD , Douglas cost us the UEFA cup it wasn’t even a shot he spilled it was a pass from the centre circle into the box.

  24. Neustadt-Braw on

    gherrybhoy57

     

    01:35 on

     

    15 July, 2013

     

    Neustadt-Braw

     

     

    I can well imagine him inhaling from a helium balloon just before he speaks.

     

     

    …….

     

    thats a shame ,cos we are short on Edel Gases ….not on twats …never mind the Celtic minded will laugh at them ….

  25. gherrybhoy57 on

    Neustadt-Braw

     

     

    Just looked up Edel Gases. But he does spray the paash about, eh?

  26. Neustadt-Braw on

    greenyinfurrafenian

     

    01:38 on

     

    15 July, 2013

     

    who’s terry the tec?

     

     

    description pending …probably twat…AKA ..blah blah blah …

  27. Neustadt-Braw on

    01:48 on

     

    15 July, 2013

     

    Neustadt-Braw

     

     

    Just looked up Edel Gases. But he does spray the paash about, eh?

     

     

    aye they do that …love to see them eating a hot bridie with a fan fae the Glens …just twats

  28. 16 roads - Neil Lennon walks on water. on

    Raymac – If it is yerself…this is a bold statement to make,but it is true – You are up there with the greatest singers that Ireland has ever produced.

     

     

    Such a voice.

     

     

    Far too modest for your own good mo chara.

     

     

    I know a former member of the Dogs,and your band’s music was the music that he found most inspirational of all.

     

     

    LEGEND.