Who is online?
In total there are 7 users online :: 0 Registered, 0 Hidden and 7 Guests None
Most users ever online was 441 on Sun May 22, 2011 10:20 pm
Latest topics
Top posting users this month
| skyblueoz |
| |||
| Wensdi |
| |||
| titbumwilly |
| |||
| Topdawg |
| |||
| TMG |
| |||
| Paulpowersleftfoot |
| |||
| atlblue |
| |||
| Jwils2710 |
| |||
| shakencity |
|
Mangala transfer investigated by FIFA
3 posters
Page 1 of 1
Mangala transfer investigated by FIFA
by ManCityMan Wed Oct 14, 2015 1:40 pm
Fifa is investigating the August 2014 transfer of centre-back Eliaquim Mangala, 24, from Porto to Manchester City as the move could have breached third-party ownership rules.
The record 54 million euro ($61 million) transfer of defender Eliaquim Mangala to Premier League leader Manchester City from Porto may have explicitly violated a longstanding rule of global soccer.
FIFA, the governing body of global soccer, is investigating the2014 trade to see if outside investor Doyen Sports played an improper role in negotiating the trade.
Doyen, which raised 50 million euros as part of its first investment fund, is the biggest investor in the $4 billion transfer market for soccer: It buys a share of the future trade value of a player, betting that whatever he might go for in the future will more than cover the initial investment.
Documents reviewed by Bloomberg included a letter between executives from Porto and Doyen in which the soccer club ceded power to the fund to negotiate the sale of its stake in Mangala. That agreement appears to fly in the face of FIFA’s rules at the time, which prohibited third parties from influencing teams’ transfer negotiations.
A FIFA spokesperson confirmed that the Zurich-based organization is “looking into the matter.” Doyen Chief Executive Officer Nelio Lucas declined to comment. In the past, he’s said the fund, which has invested millions of dollars in dozens of players across the globe, has acted within the rules. Porto didn’t respond to an e-mail seeking comment.
Manchester City spokeswoman Vicky Kloss didn’t respond to an e-mail seeking comment. FIFA is not investigating the club’s involvement in the trade, only Porto’s engagement with Doyen.
If FIFA’s disciplinary committee decides that Porto broke the rules, the club could be fined or blocked from buying players.
Mangala struggled in his first season at City, playing 25 times in the league, collecting seven yellow cards and being sent off once. City, owned by Sheikh Mansour Bin Zayed al Nahyan, the billionaire deputy president of the United Arab Emirates, struggled as Chelsea won the English title. He’s fared better this year -- playing in seven of City’s eight league matches -- amid increased competition for defensive places at the Premier League leader following the signing of Nicolas Otamendi.
In a press release announcing Mangala’s transfer, Porto said it received 30.5 million euros for its 57 percent ownership of Mangala’s contract. Lucas said at the time Doyen got a similar valuation for its 33 percent stake, bringing the total fee to about 54 million euros, the highest amount ever paid for a defender in the Premier League. The remaining 10 percent stake in Mangala was owned by a London-based company called Robi Plus. Doyen paid Porto 2.6 million euros when it acquired its percentage of Mangala’s transfer rights in 2011.
The timing of FIFA’s investigation comes at a sensitive moment for Doyen, which is waiting for a ruling from the Court of Arbitration for Sport over another high profile transfer. Sporting Lisbon refused to pay the fund its portion of the 20 million-euro sale of defender Marcos Rojo to Manchester United, arguing it pressured the club to move the player despite it wanting to keep him.
Doyen has also challenged FIFA’s more recent ban on third-party investing in players’ contracts, and the outcome of the Rojo case and this new investigation may influence that court’s proceedings. The practice started in South America and is spreading to parts of Europe, with clubs using investors’ cash to acquire players they say they couldn’t otherwise afford.
The record 54 million euro ($61 million) transfer of defender Eliaquim Mangala to Premier League leader Manchester City from Porto may have explicitly violated a longstanding rule of global soccer.
FIFA, the governing body of global soccer, is investigating the2014 trade to see if outside investor Doyen Sports played an improper role in negotiating the trade.
Doyen, which raised 50 million euros as part of its first investment fund, is the biggest investor in the $4 billion transfer market for soccer: It buys a share of the future trade value of a player, betting that whatever he might go for in the future will more than cover the initial investment.
Documents reviewed by Bloomberg included a letter between executives from Porto and Doyen in which the soccer club ceded power to the fund to negotiate the sale of its stake in Mangala. That agreement appears to fly in the face of FIFA’s rules at the time, which prohibited third parties from influencing teams’ transfer negotiations.
A FIFA spokesperson confirmed that the Zurich-based organization is “looking into the matter.” Doyen Chief Executive Officer Nelio Lucas declined to comment. In the past, he’s said the fund, which has invested millions of dollars in dozens of players across the globe, has acted within the rules. Porto didn’t respond to an e-mail seeking comment.
Manchester City spokeswoman Vicky Kloss didn’t respond to an e-mail seeking comment. FIFA is not investigating the club’s involvement in the trade, only Porto’s engagement with Doyen.
If FIFA’s disciplinary committee decides that Porto broke the rules, the club could be fined or blocked from buying players.
Mangala struggled in his first season at City, playing 25 times in the league, collecting seven yellow cards and being sent off once. City, owned by Sheikh Mansour Bin Zayed al Nahyan, the billionaire deputy president of the United Arab Emirates, struggled as Chelsea won the English title. He’s fared better this year -- playing in seven of City’s eight league matches -- amid increased competition for defensive places at the Premier League leader following the signing of Nicolas Otamendi.
In a press release announcing Mangala’s transfer, Porto said it received 30.5 million euros for its 57 percent ownership of Mangala’s contract. Lucas said at the time Doyen got a similar valuation for its 33 percent stake, bringing the total fee to about 54 million euros, the highest amount ever paid for a defender in the Premier League. The remaining 10 percent stake in Mangala was owned by a London-based company called Robi Plus. Doyen paid Porto 2.6 million euros when it acquired its percentage of Mangala’s transfer rights in 2011.
The timing of FIFA’s investigation comes at a sensitive moment for Doyen, which is waiting for a ruling from the Court of Arbitration for Sport over another high profile transfer. Sporting Lisbon refused to pay the fund its portion of the 20 million-euro sale of defender Marcos Rojo to Manchester United, arguing it pressured the club to move the player despite it wanting to keep him.
Doyen has also challenged FIFA’s more recent ban on third-party investing in players’ contracts, and the outcome of the Rojo case and this new investigation may influence that court’s proceedings. The practice started in South America and is spreading to parts of Europe, with clubs using investors’ cash to acquire players they say they couldn’t otherwise afford.
ManCityMan- Key Player
- Posts : 3023
Age : 68
Location : Glasgow
Re: Mangala transfer investigated by FIFA
by ManCityMan Wed Oct 14, 2015 1:46 pm
Fortunately it looks like Doyen and Porto that have the problem, City did nothing wrong that i can see.
ManCityMan- Key Player
- Posts : 3023
Age : 68
Location : Glasgow
Re: Mangala transfer investigated by FIFA
by shakencity Wed Oct 14, 2015 2:03 pm
No they haven't, but we know how much every bugger else has it in for City.
I fully expect a £2billion fine and expulsion from the CL for 10yrs to follow
.
I fully expect a £2billion fine and expulsion from the CL for 10yrs to follow
.
shakencity- Cult Hero
- Posts : 8740
Age : 53
Location : Bury
Re: Mangala transfer investigated by FIFA
by leopold Wed Oct 14, 2015 2:20 pm
It certainly explains why we had to pay so much for him, anyway.
And yes, I fully expect us to be hauled over the coals on this one even though we've done absolutely nothing wrong.
And yes, I fully expect us to be hauled over the coals on this one even though we've done absolutely nothing wrong.
leopold- The Boss
- Posts : 7381
Age : 53
Location : Manchester
Similar topics» Mangala transfer goes through tomorrow
» Mangala transfer news
» FIFA investigate City over illegal signing of a teenager...transfer ban?
» City to be investigated under FFP
» Kevin Friend must be investigated....
» Mangala transfer news
» FIFA investigate City over illegal signing of a teenager...transfer ban?
» City to be investigated under FFP
» Kevin Friend must be investigated....
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum
» Pep’s at it again
» Nijinsky tips
» I can't believe it
» Today's game
» Happy christmas Blue Moon Users & Guests
» Bloody Rubbish
» World Cup Final
» The Man City Academy - What' the point?
» Transfer business - good or bad?