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. Son of Gabriel on

    Laugh of the day folks:

     

     

    Orc in the office just said

     

    “You know every year you look at (Elbows) and think aye this is his last season, you should see him though, he looks in best shape I’ve seen him, he actually looks younger”

     

     

     

    Opinion: Greggs stopped the freebies?

     

    Barman wont pay the tab anymore?

     

    Or is it the added marching he does this time of year?

  2. ‘GG

     

    04:56 on

     

     

    ‘My view on the Trayvon killing is based on the law in Florida and other states here on a gun carry permit and how you can use it in self defence.

     

    The Florida law allows the use of deadly force if you have a reasonable fear that your life is in danger’

     

     

    ###

     

     

     

    The moral of the story is that you should always make sure that the only witness is dead.

     

     

    And who then is to say that you weren’t in fear of your life or contradict your story?

     

     

    Especially if the deceased is black and the jury is white.

     

     

    Maybe Zimmerman should have stayed in his car, like the cops told him to do. As it is he’ll be looking over his shoulder for the foreseeable future.

  3. South Of Tunis on

    DBBIA @ 9 .00

     

     

    Times are hard for many and on you come boasting about spending £ 3 for a coaster.

  4. Dontbrattbakkinanger on

    Sof Tunis -I also picked up an Atlantic Records compilation- late 50s, early 60s.

  5. twists n turns on

    Will we score 3 times over 180 minutes v cliftonville? We might need to. So…what important conclusions does my question raise…at least in my own head? 1. I don’t trust our defence….2. I worry about our striking situation.

     

     

    If we beat the fighting Irish, will we need to score 4 times or more in Q2?

     

     

    Slightly worried I think!

  6. Joe Filippis Haircut on

    I feel the same way as many other Celtic fans this morning if it is true that Norwich City have offerred 4 Million for Hooper and set a 4pm deadline for Celtic to accept or the offer is withdrawn.The SSM should just call there bluff. I am certain as this transfer window moves on that Celtic will get there price for Hooper but I feel it is much more important at this time to find and secure his replacement.H.H.

  7. Hate to be negative but really annoyed that were beIng told most the vic money will be going to extending contracts.

     

     

    So if we didint sell vic then joe,stokes and others mentioned wouldnt have got new deals. I dont believe that.

     

     

    Im glad norwich hve given deadline, hopefully speeds things up. Must be really frustrating for neil.

  8. Joe Filippis Haircut

     

     

    Not just that but if he plays and helps us qualify for the Champions League we’ll make more then the 4mill they are offering.

     

     

    I say call their bluff too.

  9. Celtic need at least 3 players who are ready to play in the first team and we need them before the next qualifier. If Wilson and Hooper go as the MSM are reporting we will need another two first team players. That’s almost half a team we require to be ready for a very long season ahead.

     

    We can’t rely on Brown, Ledley, Kayal & Forrest for the midfield. None of these guys have been through a season yet at Celtic without a long term injury.

     

    I may be panicking but I am very concerned. We need a 30 goal a season striker whether Hooper goes or not. What is going on at Paradise. We need these guys in yesterday and we are not looking like signing anyone.

     

    Hope I am wrong and the board have it in hand. Neil Lennon will not be able to get in the CL with the current group of players he has fit and ready to play. There will be very good sides in the qualifiers and play offs.

     

     

    LB

  10. We should really let half of our team go, and try to rake in as much as we can for our best young talent. There must be a few quid to be made, and we would still retain the SPL crown with ease.

     

    Its plain to see that we dont want to win the Champions League. If we did big Vic would still be here.

     

    No that am bitter ‘n cynical or anything like that……..

  11. Joe Filippis Haircut @ 10:22,

     

     

    “………but I feel it is much more important at this time to find and secure his replacement.”

     

     

    Totally agree.

     

     

    We MUST get in a proven goal scorer as soon as possible.

     

     

    What is the worst that could happen – Hooper stays for another Season and we are lumbered with two proven goal scorers.

     

     

    Hail! Hail!

  12. South Of Tunis on

    Money Money Money .

     

     

    Not content with paying 63 million euros for a centre forward [Cavani ] , PSG have just spent 35 million euros on a centre half [ Marquinhos , aged 19 ,] . He is a player.

     

     

    Roma have signed his replacement , a 17 yr old from Dinamo Zagreb . Price =5 million.

  13. Raymac

     

     

    I emailed you last night but it has come up with an error message.

     

     

    I am coming over for the match on Tuesday night and would love to meet up.

     

     

    I hope to meet HT on Wednesday also.

     

     

    TT

  14. Shortie bitterly closing the door for The Mothers in respect of Faddy……….

     

     

    EmbdyButSellick BBC

  15. This hysteria reminds me of the days when the Daily Hun would castigate Celtic for a few friendly defeats and demand instant signings. The hacks still have influence it seems.

  16. South Of Tunis on

    Help ! .

     

     

    I know zilch re Cliftonville .

     

     

    How good/.bad are they ?

     

     

    Inverness ?

     

    Partick Thistle ?

     

    A team from Iceland ?

     

    Faroe Islands ?

  17. Dearie me…….Surprising how many Celtic fans believe what they read in the papers. It would appear that some of us have learnt nothing?

  18. SydneyTim should write for the Daily Record seeing as he has swallowed that nonsense hook, line and sinker.

     

     

    Neil Lennon came out with a pile of absolute crap the other day for the benefit of the Laptop Loyal in response to their OTT coverage of our pre-season.

  19. skyisalandfill on

    Bawsman. Agree. Lots of panicking going on here from people who should really know better.

     

    I have complete faith in Neil Lennon, John Park and Peter Lawell to deliver the goods as and when they are required.

     

    HH

  20. ASonOfDan

     

     

    I haven;t read the press coverage myself but I have watched the games and can see we are struggling. Cliftonville will treat these two matches like cup finals. We have lost against poor opposition recently in Scotland. Why wouldn’t this be concerning the most positive Celtic supporter? Pre-season games are all about fitness and gelling. We are not ready from what I have seen. I think we are at least a few players short in that first team.

     

    Wednesday will prove where we are competitively. I think no wins in pre-season is poor. We should have been good enough to at least win one match.

     

    I am concerned and I don’t need to listen to the media to be concerned. If they are saying the same thing then they must be getting something right for once because we are not in great shape for me.

     

     

    LB

  21. tictaewin

     

    10:32 on

     

    15 July, 2013

     

     

    There’s a difference between wanting to win something and being realistic about your ability to do so.

     

     

    For a number of reasons both financial and the way it’s organised our ability to win the CL is limited – having Wanyama in the team wouldn’t change that even if we kept him until the end of his career.

     

     

    If we trust the scouting network that brought him here, then selling him at the price we did will hopefully bring us 2-3 similar class of players. Then we’re one step closer.

     

     

    Unfortunately we’d need to repeat that feat at least two more times to craft a team capable of going the whole way, all while keeping the majority of the diamonds we find. Frankly I don’t see it happening.

     

     

    As I see it we need to to consistently start bringing youth through at an average of 1/season, and these players need to be at least good SPL quality and at least play a part in the squad. There’s not that many teams manage that kind of return from their own system. And again retention is a problem.

     

     

    All the while the teams from the ‘big leagues’ will shift the goal posts to keep themselves in the money.

     

     

    There’s so much to juggle.

     

     

    At the end of the day if I see us winning what we realistically can, and competing as best we can elsewhere, hopefully with some decent football being played along the way, that’s enough for now. If we somehow end up in a different playing environment, then I’ll expect more.

  22. So still no mention from the corrupt ScottishFA about CG & CW links why am I not surprised.

  23. It must be so depressing for Sydney Tim and others when Celtic win. I wonder if they actually derive any enjoyment from Celtic?

  24. Dontbrattbakkinanger on

    Tauranga- it’s filmed in Queenstown and Glenorchy.

     

     

    The scenery is the star.

  25. LiviBhoy

     

    10:50 on

     

    15 July, 2013

     

     

    Just back from a cracking weekend in Berlin.

     

     

    The squad were training in the mornings of the games pre-season. Lenny (IMHO) knows his team but is trying permetations and feeding the kids in. Have a wee look at the teams that finished the games.

     

     

    Strachan trained the squad in the searing heat in the USA then sent the team out to chase really good USA sides who were mid-season………FITNESS, mate, that’s the name of the game.

  26. The mineshafters-versus-happy-clappers debate is older than CQN but has been a perennial feature of the blog.

     

     

    Most Celtic fans, it seems to me, are neither one or the other all the time, but oscillate between the two poles.

     

     

    What people tend to do, one way or another, is seize any ‘evidence’ that seems to support their position, no matter if it’s tabloid speculation or not. We all want to be right and to be proved right. It’s human nature.

  27. Asonofdan must be mistaken. Fair shout. We must have goalscorers I and the rest of the Celtic fans have never heard of. We must have sneaked a few midfield players when I as not looking

     

    So sorry I was wrong

  28. Steinreignedsupreme on

    It’s a bit depressing that so many people on here appear to be dancing to the tune of the media … I’ll correct that – it’s actually embarrassing.

     

     

    The media do not have a shred of credibility yet people still go with their agenda after all that has happened in the last couple of years.

  29. DBBIA @ 10:18,

     

     

    “Sof Tunis -I also picked up an Atlantic Records compilation- late 50s, early 60s.

     

     

    Get the Coaster on!

     

     

    Select: Child-In-Time,

     

     

    Headphone: Volume on Full

     

     

    Set your Head for Lift-Off

     

     

    TVonT’internet

  30. Bawsman

     

     

    I take that on board then mate. As long as the team are ready then that is fine. I am just a bit concerned with the way we have shipped some of the goals. I am a bit old school that I don’t believe in friendlies. I expect Celtic to win all their games against anyone.

     

    I want the club to be in the CL group stages. I just hope we have enough quality to make it because it’s a lot tougher than last season.

     

     

    LB

  31. Ol Sidney Tim is either an agent provocatuer or playing the role of an agent provocatuer for his own entertainment.

     

    Either that or he believes what he reads in the DR and nobody is that daft.

  32. ernie lynch

     

     

    10:03 on 15 July, 2013

     

     

    ‘GG

     

    04:56 on

     

     

    ‘My view on the Trayvon killing is based on the law in Florida and other states here on a gun carry permit and how you can use it in self defence.

     

    The Florida law allows the use of deadly force if you have a reasonable fear that your life is in danger’

     

     

    ###

     

     

    The moral of the story is that you should always make sure that the only witness is dead.

     

     

    And who then is to say that you weren’t in fear of your life or contradict your story?

     

     

    Especially if the deceased is black and the jury is white.

     

     

    Maybe Zimmerman should have stayed in his car, like the cops told him to do. As it is he’ll be looking over his shoulder for the foreseeable future.

     

     

    ~~~~~~

     

     

    Oor Comrade Ernie…..

     

     

    You Must Be Getting Yourself In A Froth Of Excitement…..

     

     

    Over The Prospect Of Widespread Race Riots In The US….

     

     

    Who Can Forget Your Gleeful Enthusiasm For The Anarchy That Prevailed In The London Riots Of 2011…..?

     

     

    The London Riots…..As Distinct From Those In Other Cities….

     

     

    Were Most Definitely Race Riots……..

     

     

    With A Few Whiteys Tagging Along At The Fringes…..

     

     

    Our Lords And Masters Chose To Obscure These Fact…..

     

     

    For Purely Political Considerations…

     

     

    Fortunately,There Were Few Fatalities Associated With The London Riots…..

     

     

    There Have Already Been Multiple Murders Related To The Florida Incident…

     

     

    Even Before The Case Went To Court….

     

     

    Undoubtedly There Will Be Many More…

     

     

    All ‘Grist To The Mill’ For Auld Revolutionaries Like You…..

     

     

    Cheerleading From The Back,As Usual….

     

     

    Just So Long As Yourself,And Your Nearest And Dearest…..

     

     

    Are Untouched By The Violent Anarchy..

     

     

    Viva Bullet-Riddled Guevara !

     

     

    ~~~~~~

     

     

    You Have Chosen To Ignore GG’s Comments On The Role Of The MSM…

     

     

    (Fox TV Excluded)….

     

     

    In Distorting The Recorded Transcripts Of The Incident….

     

     

    By Selective Editing And Alteration Of Timelines….

     

     

    So That The Conversations Between Zim And The Emergency Operator…..

     

     

    Were No Longer In Their Original Order

     

     

    To Further The Agenda For Their Own View Of The Incident…..

     

     

    NBC,In Particular,Were Heavily Criticised For This Practice….

     

     

    But Old Fox Ernie…..Seeks To Obscure Facts Further….

     

     

    When He Suggests That Zim ‘Should Have Stayed In His Car,Like The Police Told Him”……

     

     

    He Was Patrolling The Compound On Foot….

     

     

    Martin Was Not Actually Using The Sidewalks As Would Have Been The Usual For Regular Residents…..

     

     

    But Walking Across Grassed Areas…..

     

     

    He Was In Contact With A CIVILIAN Emergency Controller…..

     

     

    Not The Police…..

     

     

    And When She Suggested That He Should Return To His Truck And Await The Arrival Of The Police…..

     

     

     

    He Was Heard To Agree….

     

     

    And Microphone Recordings Suggest That He Was Ambushed And Assaulted…

     

     

    As He Set Off Towards His Truck…..

     

     

    But,Hey..! Why Should We Expect Any Honesty Or Transparency From You ?

     

     

    After All…..It’s Simply Not In The Genetic Make-Up……

     

     

    Of Lefty Cohorts…

     

     

    Right..?

     

     

    Oh….Up The Hoops!

     

     

    Free The MegaWattie!

  33. macjay1 for Neil Lennon on

    Taurangabhoy

     

    09:28 on

     

    15 July, 2013

     

    A mate of mine in Whakatane ,who had a fairly major forestry business,was V. concerned when Helen Clark became P.M.

     

    It didn`t take him too long to change his mind.He now speaks very highly of her.

     

    Interestingly enough,it was the Labour govt. here who borrowed and spent to ” avoid the G.F.C.”, running up major debt in the process.The A dollar has dropped 15 to 20% in the last month.

     

    Wonder why.

  34. BOBBY MURDOCH'S CURLED-UP WINKLEPICKERS on

    JOHN O NEIL

     

     

    To be fair to the mineshafters among us,they feel the pain of not performing as they would like us to.

     

     

    I don’t suggest they take defeat any harder than most of us,but they rejoice in every victory.

     

     

    But they would like to see better,more assured,performances than we have become accustomed to in recent years.

     

     

    Pragmatism isn’t in their dictionary. Perfection is not an ideal but a demand. Who’s to say they’re wrong,and that we should just settle for what we have?

     

     

    For them,that is the equivalent of Arsenal celebrating fourth place last season. I never want Celtic to be in a similar position,and that,I think,is why we should pay heed to the Cassandras in our midst