SBD Global/October 1, 2013/Finance

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  • Argentina's 'Football For All' Program To Receive $243,500 From Argentine Government In '14

    The Argentine government's '14 budget will assign 1.4M Argentine pesos ($243,500) to the country's "Fútbol para Todos" ("Football for All") program, which provides free TV viewing of football matches to Argentine citizens. In five years, "the government's contribution has increased 135%." By the end of '13, 6.1M Argentine pesos ($1.05M) will "have been spent on the program." When the Argentine Senate approves its budget for '14, Fútbol para Todos "will cost the government" nearly 4M Argentine pesos per day. Nevertheless, "over the five years since the program was created, the economy of the top football clubs did not improve." In each of the previous years, the Argentine FA received more than the government had announced it would contribute. In '10, in addition to the 648M Argentine pesos agreed, the AFA received an additional 205M Argentine pesos. The "generous influx continued." In addition to the 690M Argentine pesos for '11, the government added an extra 189M Argentine pesos. In '12, 698M Argentine pesos were designated, but "after two extra games, the contribution totaled" 1.2M Argentine pesos (CLARIN, 9/30).

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  • French Sports Minister Assures Top Footballers Will Not Be Exempt From 75% Taxes

    French football players will not "be excluded from a special tax on large fortunes," with those earning more than €1M ($1.3M) per year to be taxed at 75%, according to the EFE. French Sports Minister Valerie Fourneyron "assured that this tax, created for next year, will have no exceptions," despite requests from the French Professional League (LFP). Fourneyron indicated that "French football should not follow the path of Spanish football, where 'clubs cannot pay their players.'" Referring to Paris St. Germain, with "Qatari capital" and Monaco, "with Russian money," Fourneyron said that it is "positive that millionaires who can pay impressive salaries have arrived in football, but they should not give off the feeling that there is an atmosphere with no regulation." Fourneyron: "It is important to maintain a competitive balance and allow investors to have a long-term vision" (EFE, 9/30). 

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  • Spanish Football League President Javier Tebas Updates League's Financial Status

    Spanish Football League (LFP) President Javier Tebas on Monday explained to "several spokespersons from various departments in the Spanish government the results of the LFP's recent economic assessments of its teams," according to the EFE. Tebas and LFP Dir General Javier Gomez on Monday met with Commission of Education & Popular Sport assistant spokesperson Angel Gonzalez, Commission of Education & Socialist Sport assistant spokesperson Manuel Pezzi and Socialist Parliamentary Group vice-spokesperson Emilio Alvarez Villazan. Gonzalez said, "The information from the LFP highlights that the government's plan for the clean-up of football is on a good path. The debt has decreased and the LFP's plan will achieve its objectives." Pezzi showed his satisfaction with Tebas's press conference after the government had demanded "no opacity and complete clarity in regard to LFP clubs' economic situations." Tebas considers "addressing Congress a right and an obligation to explain with total clarity the economic situation of professional football." Tebas explained that "football is on the right path toward reducing its costs and therefore also reducing the debt." He added that "the situation of the clubs, collectively, is improving" (EFE, 9/30).

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  • Team New Zealand Starts $1M Fundraising Effort To Finance Next America's Cup

    A "fundraising appeal to send Team New Zealand to the next America's Cup to sort out 'unfinished business'" has raised more than NZ$8,500 ($7,100) in less than 24 hours, and its organizer hopes to hit NZ$1M ($830,000), according to Aimee Gulliver of FAIRFAX NZ NEWS. Kia Kaha Media CEO Ned Dawson, 46, "might be Team New Zealand's biggest supporter." Dawson launched the GiveaLittle campaign on Sunday after "starting up Facebook pages supporting Team New Zealand that now have a collective fan base of more than 60,000 people." Dawson said that the campaign asks for donations of "$2, $5, $10, $20 or whatever you want, every single dollar goes to Team New Zealand to help fund its challenge for the 35th America's Cup." Dawson added that raising NZ$1M "was within reach with America's Cup fever still in the air." Dawson: "Over the last two weeks of the America's Cup, you tell me how many Kiwis weren't sitting in front of the TV captivated by what was going on" (FAIRFAX NZ NEWS, 9/30).

    KIM DOTCOM INTERESTED: The EFE reported millionaire entrepreneur Kim Dotcom, a New Zealand resident, "has agreed to give financial help so that Team NZ will be able to participate in the 35th edition of the America's Cup." The New Zealand team's future "is uncertain after its recent defeat, and a debate has been opened in New Zealand, but the government is maintaining its silence about possible financing of Team NZ for future editions of the events." The government's NZ$26M ($22M) contribution for the last America's Cup "was unanimously approved by New Zealand's Parliament," but now New Zealand PM John Key "is indicating that there are doubts about the benefit of government contribution, and no decision has been made." Dotcom said, "Whether the government gives its support or not, I am going to economically back Team New Zealand. If Key says there will be no more funds for the team, my business will become a Team New Zealand sponsor and I am sure that we will win the next America's Cup. I have not even talked with Team NZ, but I believe there is nothing better than being associated with this team" (EFE, 9/30).

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