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Suggest folks listen to Simon Jordan's comments on Talksport, with Danny Murphy sat beside him.
Most telling comment: he tried to set something up at Palace, but players responded, 'What’s in it for you?' Although Jordan wanted them to use IFA's, the players ignored him and went with their agents/mates' advice. Agents Jordan said, who in wage negotiations would say to him, 'Give me £50k and I'll get X to take less wages!'
Riddled with scuzz buckets!
'Always In Motion' by John Honney available on amazon.co.uk
Football's Financial Shame (BBC Documentary) on 13:28 - Sep 7 by PlanetHonneywood
Suggest folks listen to Simon Jordan's comments on Talksport, with Danny Murphy sat beside him.
Most telling comment: he tried to set something up at Palace, but players responded, 'What’s in it for you?' Although Jordan wanted them to use IFA's, the players ignored him and went with their agents/mates' advice. Agents Jordan said, who in wage negotiations would say to him, 'Give me £50k and I'll get X to take less wages!'
Riddled with scuzz buckets!
Hasn’t Simon Jordan gone bankrupt about three times? I understand the trepidation to be fair.
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Football's Financial Shame (BBC Documentary) (n/t) on 14:05 - Sep 7 with 1628 views
Football's Financial Shame (BBC Documentary) on 14:53 - Sep 7 by DavieQPR
Without watching but did the BBC allow more than the view that didn't fit their narrative?
I watched it and was pretty outraged by it. Brian Deane and Danny Murphy in particular come across as very hard done by.
I honestly don't know what the BBC's supposed narrative would be so I can't comment on that. It seemed like objective reporting to me. All sides were given the opportunity to participate in the programme
Glory hunter, me
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Football's Financial Shame (BBC Documentary) on 15:17 - Sep 7 with 1444 views
Football's Financial Shame (BBC Documentary) on 15:17 - Sep 7 by PlanetHonneywood
Apparently not. Certainly taken hits, but still good for a few mill and nothing reported in the Bankruptcy Court...so, bit like yourself Barry!
This chat led me to a video where Eddie Hearn states to Simon Jordan that he went bankrupt and SJ threatens to sue him.
It was administration he took them too not bankruptcy. I assumed they were the same but one of those on your record isn't a gold star for financial advice.
In terms of football clubs we've nearly sent to the cleaners he's 100% up on me but I have better glasses and suit jackets.
[Post edited 7 Sep 15:42]
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Football's Financial Shame (BBC Documentary) on 16:03 - Sep 7 with 1346 views
My Dad was a financial advisor to a lot of footballers in the 1990s/ early 00s before he retired. He said the biggest problem was not the footballers or even the agents (admittedly before the money went really stupid) it was the families.
He sat with one young footballer who had just left the team we beat last week for a very big move to the team that keep falling apart again. He sat with this 19yo, went through what he should do with his money, long term boring, but safe, investments to maximise his earnings so he would never have to work again when he retired at 35yo. A very close family member sat there, turned around, and said, "f@ck that, get yourself a big bloody house and we'll help you pick a Ferrari'. My Dad got up and left and knew he'd end up with problems.
He said a lot of the issues were usually down to the greed of the families, not the players.
I cant help thinking loads didn't get through the lawyers, nobody really explained the ways it quite went wrong but they owed all this tax, it didn't gelp hmrc appear to change rules then go after people later but the property things seems bit like the timeshare type things.
[Post edited 7 Sep 17:25]
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Football's Financial Shame (BBC Documentary) on 18:07 - Sep 7 with 1124 views
Football's Financial Shame (BBC Documentary) on 13:28 - Sep 7 by PlanetHonneywood
Suggest folks listen to Simon Jordan's comments on Talksport, with Danny Murphy sat beside him.
Most telling comment: he tried to set something up at Palace, but players responded, 'What’s in it for you?' Although Jordan wanted them to use IFA's, the players ignored him and went with their agents/mates' advice. Agents Jordan said, who in wage negotiations would say to him, 'Give me £50k and I'll get X to take less wages!'
Riddled with scuzz buckets!
Not watched, so probably will comment out of context, but the astronomical money involved in football will always lead to people trying game to make a fast buck or two. No point trying it on if the rewards are miniscule!
I mean wtf is an agent anyway other than a way of making someone who can't play the game very very rich.
Someone published the money from the first premier league on the soch recently; some little team from West London got just over £2m for finishing 5th. What's that now; around 100 times that?
It is obscene. The players are not worrying about the odd twenty grand a week on wages (a million a year); they don't need it, but someone else will grab it if they don't.
Criminal really and that is without talking about obvious money laundering opportunities and tax get outs...
In answer to the BBC bias question, this was not too bad actually, slightly inaccurate in places but it is hard to explain some of the tax techncalities here. Despite 'tutting' at some of the ignorant comments, I don't have an issue with it overall and I was a Film Scheme expert back then (I didn't promote them before you ask!)
But here are some truths that were glossed over by the documentary:
1) Film Tax Schemes didn't dodge tax, they deferred tax. If allowed to go through their planned lives the tax would have got paid, just later than otherwise 2) I do not have the facts on every scheme, but the amounts owed by the footballers to HMRC are probably interest on tax, and not actual tax which was not made clear. 3) Gordon Brown did a huge U-Turn aroud in (I think) 2005/6; after previously celebrating the growth in UK Films he decided to start attacking them. A disgusting turn of events, but I think he was driven by some disgusting people at HMRC. 4) The Government did not intentionally promote these schemes, they were the result of the 1997 Film Tax write offs legislation (known as s48 in the profession) and the invention of LLPs in 2000. Gordon Brown loved it for a while. 5) HMRC should get a bad press for the way they persecuted these schemes and there have been suicides (I understand) involving middle class people whose lives were ruined by what HMRC did. It wasn't just footballers. 6) Dave Hartnet of HMRC was found to be illegally feeding The Times and Sunday Times confidential information about Ingenious and its owner Patrick McKenna. He had to resign, but this is rarely mentioned in these stories (which I find sickening and is my main gripe with this documentary). 7) Basically, a lot of people, even beyond football, suffered because of HMRC's disgusting vendetta against Patrick McKenna and the Times and Sunday Times should hang their heads in shame for promoting HMRC's propoganda. Time after time they ran stories about footballers investing in tax schemes which were less than honest in the way the stories were constructed at the time. 8) I suspect that most of the footballers' money was actually lost on the property deals etc. rather than the film tax schemes. 9) I had a Premiership star as a client at the time, told him not to invest and he kept questionning me asking: 'why are all the other players in the dressing room investing?'. I think he later appreciated my warnings.
I'm no fan of the BBC, but for all the things this documentary got wrong, most of it was reasonable and it is worth a watch.
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