Join Now | 
HomeAboutContact UsPrivacy & SecurityAdvertise
Soccer America DailySpecial EditionAround The NetSoccer Business InsiderCollege Soccer ReporterYouth Soccer ReporterSoccer on TVSoccer America Classifieds
Paul Gardner: SoccerTalkSoccer America ConfidentialYouth Soccer InsiderWorld Cup Watch
RSS FeedsArchivesManage SubscriptionsSubscribe
Order Current IssueSubscribeManage My SubscriptionRenew My SubscriptionGift Subscription
My AccountJoin Now
Tournament CalendarCamps & AcademiesSoccer GlossaryClassifieds
Higher UK Taxes Could Deter Top Players
Guardian, November 25th, 2008 11:30AM

MOST READ

MOST COMMENTED

Increased tax rates for high earners, announced by the U.K. ruling Labour Party Monday, could deter soccer stars from playing in the English Premier League, writes Matt Scott. "England has traditionally been one of the most attractive football destinations," he writes, "where big incomes have been buoyed by one of Europe's softer tax regimes and the strength of the pound against the euro."

As agents tend to negotiate their clients' contracts in net figures, clubs will likely have to find extra money to lure or retain big names before the higher tax rate is introduced in 2010. Adding to the clubs' burdens is the current economic downturn, with clubs struggling to raise credit to cover existing borrowing.

"The clubs will have to pay a bit more because European players only talk in net," one agent told Scott. "And when you are earning £3-4 million (around $4.6 to 6 million) a year that is not insignificant money net." Also, the pound has plummeted in value against the Euro in the past three months, costing European players remitting their salaries back to the Euro-zone another 20 percent. Heartbreaking, isn't it?

 

Read the original story...


No comments yet.

Sign in to leave a comment. Don't have an account? Join Now




AUTHORS

ARCHIVES
FOLLOW SOCCERAMERICA

Recent Section 2 Around the Net
World Cup Boosts German Beer Sales    
The World Cup is credited for boosting German beer sales by 4.4 percent in the year's ...
Glazers Selling selling 8 million Man United    
The Glazer family will make around $150 million by selling 8 million shares of its stake ...
Former Palestine Midfielder Killed in Bombing    
Former Palestinian national team player Ahed Zaqout has been killed by an Israeli bomb that hit ...
Neymar Aims to Be Fit for Barcelona Opener    
Brazilian star, Neymar, who fractured a bone in his back following a challenge from Colombia's Juan ...
Mourinho: Lukaku Lacked Motivation    
Chelsea coach Jose Mourinho, after his club sold 21-year-old Belgian striker Romelu Lukaku to Everton for ...
Former Zambia Boss Takes Ivory Coast's Helm    
Frenchman Herve Renard has been appointed coach of Ivory Coast, replacing Sabri Lamouchi, who left after ...
Steven Gerrard: 'Every Person Slips'    
Steven Gerrard says the slip that arguably ended Liverpool's title hopes and England being knocked out ...
La Liga Champ Eying Chicharito    
Mexican striker Javier Hernandez, who started just six Premier League games for Manchester United last season ...
No Charges for Moyes Over Bar Incident    
Former Manchester United coach David Moyes is in the clear after he was investigated over an ...
West Ham Acquires Ecuador World Cup Striker    
West Ham has finalized a $20 million transfer of Ecuador striker Enner Valencia from Mexican club ...
>> Section 2 Around the Net Archives