SBD Global/June 14, 2013/Finance

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  • Pri Arc Head Kieran Prior Plans To Buy 1.4% Stake In Scottish Third Division Rangers

    Private equity firm Pri Arc boss Kieran Prior claims that he is "set to buy a stake" in Scottish Second Division Rangers and "could soon become the Ibrox club’s biggest single shareholder," according to David Gunn of the SCOTSMAN. The Salford-born 34-year-old, now based in London, "has cerebral palsy and reportedly has an IQ level of 234, ranking him one of the most intelligent men in the world." Prior said that he will purchase up to 1.4% of Rangers within the next 48 hours in a deal worth around £600,000 ($941,000), with "the prospect of increasing his stake." Prior: “My motivation is simple. I want to see a club with a great heritage and one I’ve supported from a distance since I was a child grow as an institution. I’m not a frontman for anyone else, 100 percent guaranteed" (SCOTSMAN, 6/13). In Glasgow, Gary Ralston reported Prior "was entrusted by Goldman Sachs with running a European Equity fund" worth £50M ($78M). Originally from Salford, he is "a Manchester United fan whose family originally hail from Galway." Prior "claims he developed a soft spot for Rangers as a kid, adopting them as his 'second' team" (DAILY RECORD, 6/13).

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  • Argentine Defender Under Tax Evasion Suspicion Regarding Recent Transfer

    Argentine first division side River Plate defender Jonathan Bottinelli was charged Wednesday with attempted tax evasion, according to CLARIN. The accusation is part of Argentina's Federal Public Revenue Administration's (AFIP) investigation that began last year. The AFIP said that it "began an exhaustive review of all footballers' transfers between Argentine FA clubs and also trades outside the Argentine FA. The most emblematic case is that of Bottinelli, who was playing in San Lorenzo de Almagro and later moved to River Plate. However, a Chilean club intervened in the transfer." The AFIP explained that "Chilean club Unión San Felipe intervened for $1.7M and the contract included a transfer of funds to a bank in Miami. San Felipe sold 60% of Bottinelli's financial rights to River" (CLARIN, 6/12).

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