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
Report: Clasico to Break Records     
AS reports that Saturday's Clasico between Real Madrid and Barcelona at the Bernabeu in Madrid will ...
Dunga Names Neymar Brazil Captain    
Brazilian national team coach Dunga on Friday revealed that Neymar will retain the captain's armband when ...
Reports: Lampard Could Extend City Stay     
According to reports in England, Frank Lampard could be able to stay on loan at Manchester ...
Pogba Signs Three-Year Extension with Juve    
Juventus midfielder Paul Pogba on Friday signed a new deal that will keep him at the ...
Rio Ferdinand to Retire This Season    
Former England captain and Queens Park Rangers defender Rio Ferdinand has said he plans to retire ...
Garcia: Roma Must Respond Following Bayern "Accident"     
AS Roma coach Rudi Garcia on Friday admitted that his team has a long way to ...
Mourinho: Costa Could Play Against Man United    
Jose Mourinho on Friday revealed that Chelsea striker Diego Costa could play at Manchester United on ...
Enrique: Suarez to Make Barca Clasico Debut     
Barcelona coach Luis Enrique on Friday confirmed that Luis Suarez will play in Saturday's Clasico vs. ...
Sporting Demands UCL Replay     
Sporting Lisbon has lodged a formal complaint with UEFA demanding a replay of its UEFA Champions ...
FIFA Rankings: USA Falls to 23rd    
Jurgen Klinsmann's USA fell six places to 23rd in FIFA's international rankings following a pair of ...
>> Section 2 Around the Net Archives