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SBD Global/November 1, 2013/Finance

Investigation Into Possible Money Laundering In Argentine Football Canceled

An Argentine court has called off an "investigation into money laundering in player trades in Argentine football," according to Andrés Morando of OLE. Football can "now breathe again." The investigation "had a shocking title: money laundering in football." It involved "trades of more than 30 players and leaders of 15 Argentine clubs," including Boca Juniors, River Plate and Independiente. There "had been an accusation that foreign clubs buying players from Argentine teams had paid more than what the players' former clubs received in the transactions." The rest of the money "was believed to have been directed to other countries before returning to Uruguay and Chile, with all the manipulation directed by the Alhec Group, a company that often works with Argentine clubs." However, "despite all the suspicion, no reason was found to proceed with the case." The three judges "who made the decision were Eduardo Freiler, Eduardo Farah and Jorge Ballestero" (OLE, 10/31).

INVESTMENT FUNDS ON LFP RADAR: The Spanish Football League (LFP) is "now working on regulating the presence of investment funds that are beginning to play a bigger role in the buying and selling of players," according to Ramón Fuentes of MARCA. In La Liga, "investment firms are becoming common for many teams." This is the case with Getafe, Sevilla, Atlético, Sporting, Elche and Valencia, and "the most active investment group is the Doyen Group." Until now, "no club has complained about Doyen's presence." Because of this, the LFP is working on a legal framework to regulate the role of these funds. The aim is to "demand transparency and establish limits on the percentages received in player acquisitions." Any investment group could "only receive a percentage less than what the club receives in a transaction." This will be "a key topic on the table during upcoming negotiations of the next agreement between the LFP and the Spanish Footballers Association (AFE)" (MARCA, 10/31).   
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