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Corinthians Ends MSI Affair

  • Reuters, Thursday, July 26, 2007 3:30 PM
The Carlos Tevez affair took yet another interesting twist on Thursday as Brazilian giant Corinthians broke off its partnership with Carlos Tevez' agent, Kia Joorabchian, and his company Media Sport Investment. The Brazilian club made the decision after its board voted unanimously to nullify the deal, which was three years into a 10-year term. "It's the end of a partnership," Rubens Aprobato Machado, one of the council's 241 members, told Brazilian television. "It was a unanimous decision."

Corinthians' decision comes just two weeks after a Brazilian judge ordered the arrest of Joorabchian, who ran MSI in Brazil, and the Russian tycoon Boris Berezovsky on money-laundering charges. Now, the club's directors are considering legal action against MSI in order to avoid paying a multimillion-dollar penalty for ending the partnership. MSI had promised to turn the Sao Paulo club into the pride of South America in exchange for 51 percent of the club's profits.

Of course, that didn't turn out to be the case, despite the arrival of Tevez and Argentina teammate Javier Mascherano, which was orchestrated by Joorabchian and MSI, and a Brazilian championship in 2005. Both Joorabchian and the company are now involved in a dispute over Tevez's proposed move from West Ham to Manchester United in England.

Read the whole story at Reuters »

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