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. Joe Filippis Haircut on

    The Moon Boys I am pleased your not down hearted. I understand our start isnt what any of us would have wanted but im sure Lennie is on the case.H.H.

  2. Jimbo 67…..

     

     

    You’re Sharper Than Sherlock……

     

     

    There Is Ample Evidence That Obama Remains A Muslim….

     

     

    He Was Born A Muslim….

     

     

    And Brought Up As One In Indonesia…

     

     

    He Is Certainly Not A CHRISTIAN….

     

     

    The Church Of Black Liberation Theology..

     

     

    Is By No Stretch Of The Imagination…

     

     

    A CHRISTIAN Church….

     

     

    Indeed,It Has Stong Connections With The ‘Nation Of Islam’ (N.O.I.) ,Of Farakhan

     

     

    And Congregants At His ‘Church’ Are Not Required To Renounce Their Muslim Beliefs….

     

     

    His Pastor…..And Mentor For Twenty Years…..

     

     

    The Notorious ‘Reverend’ Jeremiah Wright…..

     

     

    Says Obama Was A Devout Muslim….

     

     

    And He Is ‘Unsure’ Whether He Ever ‘Converted’ Him…..

     

     

    http://www.theblaze.com/stories/2012/05/17/church-was-not-their-thing-new-audio-from-rev-wrights-shocking-interview-with-obama-book-author-ed-klein/

     

     

    There Is An Abundance Of Evidence That Obama IS A Muslim…..

     

     

    “Judge Them By Their Fruit”

     

     

    Prophet Petec 2:6 Letter To The Clydebankians……

  3. interesting blog paul – it seems rangers have been reported on by journalists. I’m more shocked than nigel dodds this side of a police cordon

     

     

    I’m glad watt’s come up for review on cqn – obviously love the guy after this season ‘cos he never stops running and working but I fear he’ll go the same way as Maloney and that keeper we had who had a great game against barca away, a good few years ago, what was his name again?

  4. BABASONICOS71 on

    Zbyszek

     

     

    I was being facetious to try and emphasise a point.His tweets,height or any other detail is mere trivia compared to the fact the boy is dead.

     

    Peace brother.

  5. DUSHANBE BHILLY BHOY on

    Singing Dick…..

     

     

    Who cares about Obama? Does he support the Hoops? Thought not.

     

     

    That’s all that matters.

     

     

    Everyone in the grave yard votes the same (copyright Christy Moore).

  6. The Singing Detective

     

     

    You believe what you like. Everybody has the right to be wrong and boy are you an evangelist for that right.

     

     

    Enough of this cockeyed drivel

     

     

     

    Jimbo

  7. Neustadt-Braw on

    hahahahahhaha this burbling Terry the Tec has to be an Orc …if it reads ,sounds,never differentiates then …its from the Dark…what a twat …

  8. I remember saying to Paul (at Raymie’s night) that I feared for the future of the blog due to the lack of effective moderation. KDS is much more rough and tumble than CQN (Canamalar will attest to that) but anything too far out of line is dealt with toot sweet by the Prefects over there.

     

     

    Today we have a poster getting all hot & bothered over Obama’s religion which, of course, doesn’t matter a jot. The ironic thing is that I suspect it doesn’t really matter to the poster either – it’s the colour of Obama’s skin which really bothers him but he uses the “M” word in an attempt to distract attention away from his true feelings.

     

     

    Then we have another poster (or maybe it’s the same one, who knows) who looks back fondly on the days when the right type of immigrants came to the US – you know, the hard working, resourceful, well…white….type.

     

     

    Trayvon Martin? As the father of a 17 year old who died as a result of a violent act I can assure you that it’s an absolute tragedy regardless of the details. Using it to try & score political points is despicable & yet no more or less than I’ve come to expect from TSD & his idiot cousin.

     

     

    BMCUW – I’d like an invite to the September get-together. Don’t think you have my email address but one of the usual suspects will be able to provide it.

  9. So is our best team currently…

     

     

    Forster

     

     

    Matthews Mulgrew Van Dyck Izzy

     

     

    Brown Kayal Ledley Forrest

     

     

    Stokes Balde

     

     

    ?

     

     

    Assuming Hooper is away, and no more players brought in…

  10. Is the suggestion that President Obamas religion be it Muslim, Christian or Jedi makes him in some way a better person or indeed Leader?

     

    The debate if that indeed is what this is, does neither the blog nor it’s posters any credit whatsoever, his religious beliefs, your religious beliefs or my lack of them is no ones business, get back to debating Celtic FC we have enough of them to keep us busy.

  11. Margaret McGill on

    Shop windowing EPL fodder

     

    Nice turnover

     

    last 16 in Europe if yer lucky

     

    Wait and see what the huns are daein?

  12. Really? James Dasaolu next

     

     

    Didn’t Gay already fail one before?

     

     

    Who was the comedian that said let all athletes take drugs, make it more interesting.

  13. dick byrne

     

    Nice summation mate.

     

    I no longer read anything those two write.

     

    Once again well said.

  14. Mr Byrne….

     

     

    As I Have Stated Previously….

     

     

    The Reference To Obama’s Religion

     

    Was In Relation To A Debate On The Subject Which Arose On This Blog One Week Ago….In Which I Took No Part…

     

     

    I Merely Made Mention Of BMCUWP Comment On Obama….

     

     

    In The Context Of One Of The Examples..

     

     

    I Used To Illustrate BMCUWP Default Intellectual Dishonesty…..

     

     

    Others Chose To Rekindle Last Weekends Debate…..

     

     

    As For Trayvon Martin…..

     

     

    I Strongly Suspect He Would Have Gone On To Kill Or Maim Some Other Party…

     

     

    Somewhere Down The Line….

     

     

    George Zimmerman Is THE Victim In This Affair……

  15. BABASONICOS71 18:37

     

     

    I apologize. I read the blog and thought discussion crossed the line, not for the first time. I was angry and very likely did not read your post properly.

     

    Some of the days, cyber fighters and pseudo-inttelligent make this place mad.

  16. Green Lantern (((((0))))) on

    Good Evening fellow Tims.

     

     

    Here is the news.

     

     

    Thousands of loyal orangemen celebrate their culture by loyally assaulting Her Majesty’s custodians of public order.

     

     

    The peepel also celebrate their culture by not only brandishing flaugs of the political system they are attacking, but also by burning flaugs of certain other countries they disagree with. This is apparently an integral part of the culture they are celebrating.

     

    Nigel Dodds blames Catholic schools.

     

     

    Man U get beaten by a team from Singapore that nobody’s ever heard of before. There are calls from Man U Quick News posters to sack the board and put the manager on a final warning.

     

     

    England pump the Aussies at cricket. Boo Hoo. Why is it that it’s OK for the English to beat the Antipodeans at cricket but not at football or rugby( any code)? Go Figure.

     

     

    Chris Froome takes today’s stage of the Tour on Mont Ventoux. The first Maillot Jaune to win this since Eddie Mercx. Superb. Hopefully another British winner following Bradley’s tour de force last year. Could only be bettered by Cav winning the final stage on the Elysian Fields.

     

     

    Hey Zimmerman where ya gonna run to?

     

    Hey Zimmerman where ya gonna run to?

     

    Hey zimmerman where ya gonna run to?

     

    All on that day.

  17. I despair at the negativity on here at times. Posters on FF could not come up with half of the anti-Celtic p1sh that appears on here from so called Celtic supporters…

  18. asonofdan

     

     

    19:22 on 14 July, 2013

     

    I despair at the negativity on here at times. Posters on FF could not come up with half of the anti-Celtic p1sh that appears on here from so called Celtic supporters…

     

     

     

    Keep the Faith.

     

     

    You know there are plenty of like minded supporters who agree with you.

     

     

    A few friendlies lost while we get try to get match fitness. No big deal.

     

     

    Hail Hail

  19. Of course if we balls up against Cliftonville I assume you guys won’t be surprised, after all preparation is everything

  20. Celts

     

    The 4 heeds of the toon clock is only interested in dividing and diluting this dear Green place, it’s why good Celtic folk have a mind to go elsewhere.

     

    There’s a strength in being a Celt and it’s absolutely nothing to do with the religion of a US president.

     

    Walk on by CSC

  21. houl yer wheest

     

     

    17:53 on 14 July, 2013

     

     

    Now that was a post worth reading..

     

     

    HH

  22. maestro-number8 on

    A lot of debate on how pre-season has gone so far. There is a mixed reaction on our performances. I for one believe that there is nothing to get too worried about just yet.

     

     

    So here are 2 examples.

     

     

    In the summer of 1988 we lost 3-0 in a pre-season friendly to the Scandinavian giants IFK Stromstad and then drew 0-0 with another giant in Varbergs Bois. We also lost 5-1 at home to Arsenal. At that time we were really worried. Graeme Penis was spending big money and we had just lost McGrain, McClair, Macleod, Rambo and Judas. But we all know what happened that season.

     

     

    In the summer of 2005 we had 4 friendly games prior to playing Artmedia. We had 4 draws. These games were against Fulham, Leicester, Sporting Lisbon and then Leeds. 3 of the 4 were goalless draws, the other versus Leeds was 2-2. So while we did not win any games, we did not lose any and only conceded 2 goals in 4 games. So things looked not bad defensively………then we lost 5-0 to Artmedia, followed by a 4-4 at Fir Park. So from conceding 2 goals in 4 games we then lost 9 goals in 2 games. Thankfully we sorted it out and became champions again that season.

     

     

    Point is this : Sometimes things look not too bad in pre-season and then they get worse. Sometimes things look awful in pre-season and then it all goes to plan.

     

     

    Don’t read too much into these games, let’s just be there to support the Champions and we will be just fine.

     

     

    Oh and by the way, I’d take £5m for Hooper today, to me it is clear he does not want to be at Paradise any longer. That much was clear from any interview he did last season. Can’t understand it myself, the lad could stay with us for another 2 years and possibly reach 150 goals ( and legendary status ) and have 4 Championship medals in his pocket….and still be young enough for his move back south.

     

     

    Hail Hail

  23. the_huddle

     

     

    19:30 on 14 July, 2013

     

    Of course if we balls up against Cliftonville I assume you guys won’t be surprised, after all preparation is everything

     

     

    …………,

     

     

    Not at all sure what that means?

  24. Che

     

     

    Your point re Obama’s religion is correct. Sorry I allowed myself to be lowered by taking part. I am nervous about Wednesday – indeed the early weeks of the season- in a way I didnt think it would be

     

     

    Slainte – and Mon The Hoops!

     

     

     

    Jimbo

  25. Che

     

     

    Thanks for the winner in the last yesterday

     

     

    We were all on it…opened at 12-1 too

     

     

    Great day ….you missed a good one ..a bit rough today :-))

  26. ASonOfDan

     

    19:22 on 14 July, 2013

     

     

    I would say the negativity coming from the manager ahead of Wednesday is far more concerning than a few people having a moan on a blog.