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. What is the alleged story with Watt…?

     

     

    Players come and go, always have and always will, see at the end of the day

     

     

    No player is bigger than the club….

     

     

    Hail Hail…

  2. jude2005 is Neil Lennon \o/ on

    Gawn the brig Bhoy!!! Little Ireland.

     

     

     

    A week later and the stench is still about!!!

  3. joe filippis haircut

     

     

    12:47 on 14 July, 2013

     

     

    Agreed….

     

     

    Might not mean much, but I do..

     

     

    HH

  4. coatbridge paper bhoy on

    BHOYS and Ghirls, today is Reamonn Gormley’s birthday.. Rip Reamonn and

     

    Gb your family.

  5. Tony watt is a young man with potential …

     

    As is atajic and the highly thought of George .

     

    Why are we getting flustered over the young lad?

     

    Antony stokes is the most prolific striker behind hoops if he goes

  6. jude2005 is Neil Lennon \o/ on

    MickTT

     

     

    Watts got a ankle prob thats affecting his back and hes got a back prob thats affecting his ankle. Thats the 2 stories I heard.

     

     

    I posted this on Friday.

  7. hen1rik

     

     

     

    12:59 on 14 July, 2013

     

     

     

    Twitter.

     

     

    Names of paedophile MPs covered up by Police

     

    http://t.co/cnndvZgaIp

     

    ==

     

    You do realise that the article was posted by David Icke – was ET also named :-)

  8. BOBBY MURDOCH'S CURLED-UP WINKLEPICKERS on

    DUBAIBHOY

     

     

    Farming out kids to the juniors was a well-established pattern back then.

     

     

    Toughen ’em up.

  9. Too much money and fame came too quickly, was always going to be a big ask of a 19 year old who only 2 years ago was struggling with Airdrie Utd.

     

     

    His call where he goes from here, he knows what is expected of him.

  10. BOBBY MURDOCH'S CURLED-UP WINKLEPICKERS on

    OGLACH

     

     

    It is liberally littered with quotes,and lifted from The Daily Mirror.

  11. George Zimmerman, the Florida neighbourhood watchman who shot dead an unarmed black 17-year-old male, is found not guilty on all charges.

     

     

    Greatest democracy in the world?,

  12. RobinBhoy at 12.42

     

     

    Pal..Ye jist Struck the Bell..

     

     

    How kin Celtic, expect tae Win . C.L. Games..

     

     

    whit such a Slim Jim.. Striker’s Bench??

     

     

    We need every single Striker that we hiv oan oor Books.. if we want tae C.L.Progress.

     

     

    And at this Very Moment.. our Striker’s Bench is Looking ..

     

     

    Damn .. Un-Respectable.

     

     

    Balde.. Is He Ready?

     

     

    Stokesy. Is He Ready? Disnae Look Ready tae Me.

     

     

    Hooper.. Is He Stlll With Us? Hiv Ma doots..and they’re Growing by the day.

     

     

    Sammi.. Is He Still With Us?

     

     

    Unfortunately?? .. He is.

     

     

    Yep ,oor Striker’s Bench is looking Awfy Underpopulated.. these days..

     

     

    And Noo..

     

     

    Neil decides that we dinna reaquire the services of Young Tony..

     

     

    Ah gotta Admit that.. that May be an Unfounded Rumour..so.

     

     

    We hiv ,really gotta gie Neil the Benefit of the Doot…until we see which way the Cat Jumps..

     

     

    Anyway..

     

     

    We Soitenly Need Anither Wan or Two or Three..

     

     

    New Strikers.if we wanna Bring that Bench back tae Respectability

     

     

     

    Anither Thing..

     

     

    Why disnae …or Didnae Neil go fur

     

     

    Goncalves?

     

     

    Ah reckon he wid hiv bin a great Signing.. we know he kin Cut in the S.P.L..

     

     

    Ah thought the Guy wiz a Great Prospect..

     

     

    Kojo

     

     

    Still… Laughin’

  13. Celtic_First on

    Corkcelt

     

     

    Many, many congratulations on the birth of your new grandchild.

     

     

    God bless that baby with love, health, happiness and long life. A joyous day for you and yours.

     

     

    Best wishes to you all.

  14. ASonOfDan

     

    13:06 on 14 July, 2013

     

    George Zimmerman, the Florida neighbourhood watchman who shot dead an unarmed black 17-year-old male, is found not guilty on all charges.

     

    Greatest democracy in the world?

     

    ====

     

    I think there was a loophole in the law that his defence totally exploited. I understand that a number of states have since reviewed and amended their laws to ensure that this can not happen again. Basically about the right to self defence and feeling threatened.

     

    It has been portrayed as a race issue however both parties were from minority communities – Hispanic and African American.

  15. kikinthenakas on

    Stephbhoy

     

     

    100% agree

     

     

    Hungover kikinthenakas

     

    Lanzarote breakfast beer being had…..

  16. What is the Stars on

    A son of Dan

     

    Re George Zimmerman trial

     

     

    And since people on both sides seemed to have decided the case before the testimony was heard, the verdict was bound to be disturbing no matter how it tilted. Simply put, preconceived notions effectively had people watching two different trials, with every bit of testimony and evidence producing different, and often opposing, reactions in those dueling audiences.

     

    Florida State Attorney Angela Corey, while standing with the disappointed prosecution team, seemed to tip her hat to that reality.

     

    “I never could quite understand people, even people with law degrees, who had not read all of the police reports, who had not read all of the witness statements, yet who came up with opinions one way or the other,” she said.

  17. Kojo,

     

     

    Understand Goncalves was offered to Celtic before St Mirren and we declined. Ok with that one. Agree with you on lack of strikers and more importantly bench strength/ competition.

     

     

    I hope the lack of motivation and fight on the German tour is not lennys way of twisting PL hand in spending some money.

     

     

    Season starts on Wednesday and we need to starting winning now.

  18. asonofdan…..

     

     

    The Blog Idiot Weighs In With His Usual Banal Comment…..

     

     

    Zimmerman Should Never Have Been Brought To Trial….

     

     

    The Race Baiters,Al Sharpton,Jesse Young….And The Islamist In The Whitehouse…..

     

     

    Made This Into A Racial Issue…..

     

     

    There Have Since Been Several Murders Of Innocent White Folk In The US Since This Incident….

     

     

    Their Assailants Justifying Their Deeds On The Basis That It Was ‘Revenge For Trayyvon’……

     

     

     

    You Are Spouting Off An Opinion…..

     

     

    Knowing Nothing Of The Facts Behind The Case…..

     

     

     

    [ Nothing New There………Ed ]

     

     

    Have You Researched Zimmerman’s Family Tree……

     

     

    And Discovered That As Well As Having A Black Peruvian Grandad…..

     

     

    He Had A Great Granny Fae Warsaw…?

     

     

     

    The Homicide Rate For Blacks In America Is HORRENDOUS…..

     

     

    However,95 % Of Homicides On Blacks Are Committed By Members From Within Their Own Community…..

     

     

    Blacks Comprise 14 % Of The US Population….

     

     

    But Are Responsible For 55% Of All Homicides In The Country…..

     

     

    ( The Hispanics,18 % Of The Population,Are Responsible For 26% Of Homicides ) [ 2012 FBI FIgures ].

  19. South Of Tunis on

    Cricket , lovely cricket .

     

     

    Australia need 28 runs to win .

     

     

    England need 1 wicket to win .

     

     

    This has been a great Test Match .

     

     

    It will soon be time for lunch.

  20. There was a direct quote from Lennon yesterday along the lines of “we’ll need to bring in 2 or 3 new players if we want to qualify for the Champions League again.”

     

     

    I doubt we’ll sign anyone ahead of Wednesday but I’m sure we’ll have 1 or 2 new players by the time of the second qualifier!! KTF

  21. excathedra44 on

    latchford

     

    13:23 on

     

    14 July, 2013

     

    Kojo,

     

     

     

    I hope the lack of motivation and fight on the German tour is not lennys way of twisting PL hand in spending some money.

     

     

    Season starts on Wednesday and we need to starting winning now.

     

     

    ====================================================

     

     

    I am more concerned it has more to do with his and the backroom staff new contracts,perhaps Lawell is questioning what they all do.

  22. BOBBY MURDOCH'S CURLED-UP WINKLEPICKERS on

    Not everything comes down to race or creed.

     

     

    On the other hand everything DOES come down to right and wrong.

  23. Clashcitybhoy on

    If Watt goes out on loan , so be it.

     

    More concerning is the possible Hooper departure.

     

    Our track record, in the transfer market in recent years has been reasonably good with upwards of 70% success rate in most areas, except up front, where it is appalling – Lassad, Miku , Murphy , Bangura etc etc.

     

    Hooper has been a success, Stokes is good at domestic, but that is it, the rest, for whatever reason haven’t worked.

     

     

    Don’t know the solution, maybe our scouting network needs up weighted.

     

    Maybe they are good at recognising talent in some positions and not others.

     

    Whatever, the same things will produce the same results so we need a different approach.

  24. RalphWaldoEllison remembers ALS victims Jimmy Jonstone & John Cushley on

    Stephbhoy @ 12.10

     

     

    If Hooper had been staying, or Balde had smacked in a few goals, or we had won our pre season games at a canter then the discussion about Watt would not even be a starter.

     

     

    If Tony Watt doesn’t fit in with the manager’s way of doing things, he is history.

     

    He is not a Henrik or Lubo who we can build a team around.

     

    As Starry said, he is actually just a very naughty bhoy. :0)

     

     

    Watt’s rise to the Celtic first team was the stuff of comic books, which most of us enjoyed at the time. But, as with many younger players, their immaturity works to their & the team’s advantage. He was young enough to have no fear about what he’d gotten into & was about to do. His stunning showing as sub, Barca, & then they quickly find themselves idolized beyond their dreams & wobble & fall. He has good ability, but that is not enough. Attitude, focus, awareness, uber fitness are all essential to sustain a career at the top level. If he cannot sustain it for a season then he has a lot of thinking & work to do.

     

     

    Agree totally about the MON legacy. MON walked because the only club model that he would work within (mega signings) was being halted. Fabulous time under his control but completely unsustainable for Celtic.

     

     

    BMCUW

     

     

    What’s wrong with Peroni?

     

     

    Served up in an Italian restaurant/bar in one of those long tall glasses, it is a real winner on a hot day.

     

    Celtic could do with signing Peroni :0)

     

     

    Jimbo67

     

     

    I’ve a feeling most of the additional English & Scottish Police will be on hand on Wednesday night. Wish we had just left the tie the way it was drawn. Seems like a huge banana skin for the club & our supporters. Stand by for pictures of someone with a Celtic top on at a flashpoint.

     

     

    Off to the beach for a week just in time for Tropical Storm Chantal.

     

     

    Anyone know if the game on Wednesday is on Celtic TV?

     

     

    HH

  25. Clashcitybhoy,

     

     

    You obviously haven’t been reading this blog the last few days……Stokes will apparently score 67 goals this season now that Hooper is out of the way!!!!

     

     

    How people can’t see he’s a slightly better version of Kris Boyd is beyond me.

     

     

    Great post by the way:-)

  26. maestro-number8 on

    Won’t do Tony Watt any harm if he is loaned out, he is still really young and we have to remember that. Ideally send him to Arbroath, Forfar or East Fife so that he can score a few against Sevco.

     

     

    Hail Hail

  27. South Of Tunis on

    Lunch —–

     

     

    Australia need 20 runs to win

     

     

    England need 1 wicket .

     

     

    The lunch break is likely to favor England but we’ll see.

     

     

    Edge of the seat stuff –one of the great Test Matches.

  28. my worry is next Wednesday not the next round.

     

    don’t seem to have a plan b and ???? all over the place.

     

    I am not a happy hoopy.

  29. BOBBY MURDOCH'S CURLED-UP WINKLEPICKERS on

    ralphwaldoellison remembers als victims jimmy jonstone & john cushley

     

     

    Peroni?

     

     

    Merely a running gag with voguepunter. And I shouldnae really.

     

     

    Running is fine,but if he catches me I’m a dead man!

  30. Ralphwaldoellison

     

     

    Agree totally re Wednesday – much prefer first game at CP. Enjoy the holiday.

     

     

    South of Tunis

     

     

    Australia never wins these matches – mind watching them lose by 1 run to the Windies when they performed similar heroics. Enjoy the John Dory!

     

     

    Jimbo

  31. Joe Filippis Haircut on

    I dont think we should try to look any further ahead than Wednesdays game I am still haunted by the Artmedia game.This will be Cliftonvilles cup final and how they would like to put on over the great Glasgow Celtic we will have to be at our best to win the tie over two games.H.H.

  32. RalphWaldoEllison remembers ALS victims Jimmy Jonstone & John Cushley on

    A young 17 year old lad leaves his house one night goes to the local Co-op to get some crisps & sweets. He has no criminal intent, is alone & completely unarmed.

     

     

    Meanwhile, a frustrated wannabe cop who has become the face of the local Neighbourhood Watch, gets into his car armed with an automatic pistol and starts to prowl the area looking for anything that fits his definition of suspicious.

     

     

    The wannabe cop sees the unarmed & innocent young man & uses his radio to alert the police. The police tell him to stay in his car & monitor what is happening. The wannabe cop makes it clear that he is angry & frustrated because he wants to escalate things, & ignores the police instructions to remain in his car.

     

     

    Minutes later the young man is accosted by the armed & angry wannabe cop (who has left his car) and 2 minutes later the young man is dead, having been shot by the gun carried by the wannabe cop.

     

     

    You work out what you think about these circumstances.

     

     

    If it was Belfast or Baghdad?

  33. RalphWaldoEllison remembers ALS victims Jimmy Jonstone & John Cushley

     

     

    Game is advertised on Celtic TV mate, which is great I hate listening to those other commentators, big game so early in the season so let’s see what the Bhoys are made of.

     

     

    A few players still to come and go I would imagine and it might not be the worst thing for Tony if he goes off to play somewhere else, they say absence makes the heart grow fonder!!

     

     

    Hx2

  34. RalphWaldoEllison remembers ALS victims Jimmy Jonstone & John Cushley

     

     

    the MON team was one I enjoyed watching as well, very good, but we often missed the boat and held onto players way longer than we should have, to our own demise. so he goes on one path and celtic go on another.

     

     

    celtic are doing well off and on the pitch and that is just fine by me, may it continue. if we get it right we will be just fine and for every hooper and victor there will be a brown, ledley and sammi. trick is keeping a core group while the rest of the personal/ players change around them for continuity.

     

     

    we look to be losing up to seven players this year, but in truth only two of them contributed significantly to the first team over the course of the season.

     

     

    hail hail

  35. Patrick Mc Dade on

    1. Pre -seasons friendlies

     

     

    I watched Celtic’s last two sojourns down under:

     

     

    Brisbane experience was great: a mini Aussie Seville.

     

     

    Last time Sydney and Melbourne: support experience great: Team effort dire.

     

     

    2. My feelings on meaningless friendlies:

     

     

    a. I live in Werribee: 30 Kms from Melbourne ;

     

     

    b. Cost to support the hoops in Brisbane. two adults Brisbane $1500 money worth spent.

     

     

    c Next year Sydney and Melbourne: cost two adults $1000, waste of money: poor player attitude: meaningless results; a fitness exercise Lennon mantra.

     

     

    d. After watching Tic down under and recent fitness exercise in Germany on Celtic TV, I will not pay a cent again to watch a meaningless friendly in Australia.

     

     

    e. I love Celtic, I can watch most games on Celtic TV live: However I would pay to watch a Celtic team live which always play to win and whose shirts do not shrink to fit inferior players and players who realise there is no football without the fans.

     

     

    Hail Hail I love Celtic

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