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SBD Global/August 2, 2013/Finance

French Football League President Says 75% Tax Rate Would Be 'Death' Of Sport

French Football League (LFP) President Frederic Thiriez has insisted that the proposed new 75% tax rate for millionaires in the country could bring about "the death of football in France," according to SOCCEREX. Thiriez has claimed that "clubs in Ligue 1 would struggle desperately to compete with Europe’s other top leagues when it comes to retaining and attracting the game’s leading stars." Thiriez has received an offer from Finance Minister Pierre Moscovici to "discuss his concerns about the law," which has been proposed by French President Francois Hollande’s government. Thiriez: "We are talking, which is important. What is certain is that, if this tax were to be applied in the terms presented, it would be the death of football in France -- let us be clear about that. There would be an increase in costs of 30% in one fell swoop, and no company could withstand that" (SOCCEREX, 8/1).
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