Sports
Football, Money-Laundering Vehicle – Study
The multi-billion dollar global football sector has become a vehicle for money laundering and other forms of corruption, requiring an international response, a study published last week stated.
“Money laundering through the football sector is revealed to be deeper and more complex than previously understood,” said the Financial Action Task Force (FATF), an intergovernmental body formed to fight money laundering and terrorist financing.
The Paris-based group said its analysis found that “there is more than anecdotal evidence indicating that a variety of money flows and or financial transactions may increase the risk of money laundering through football.”
The football sector has in addition provided opportunities for other criminal activities such as trafficking in human beings and drugs, according to the FATF.
Based on responses to a questionnaire received last October from government and football authorities in 25 countries, more than 20 cases of football-related money laundering were detected, the task force said.
The cases ranged from the smuggling of large amounts of cash derived from apparently illegal transactions to more complex operations.
“Investments in football clubs can be used to integrate money of illegal origin in the financial system,” the study found. “Football clubs are indeed seen by criminals as the perfect vehicles for money laundering.”
Football since the early 1990s has undergone massive commercialisation through expanded television rights and corporate ownership. Player transfer payments have now reached “astounding dimensions,” the study said.
While there are no overall figures on the global financial scope of the football sector, the European market alone, according to the Deloitte Annual Review of Football Finance, was worth 13.8 billion euros (19 billion dollars), or 0.1 per cent European Union gross domestic product in 2007.
“The cross border money flows that are involved may largely fall outside the control of national and supranational football organisations, giving opportunities to move and launder money.”
Betting too enables huge flows of money to take place outside the control of governing bodies.
The FATF study found that “several cases linked to trafficking in human beings involve individuals directly or indirectly linked to the world of football.”
It described the circumstances surrounding the recruitment of players in Africa and Latin America as “unclear.”
And it said that with forbidden drugs and other substances now widely available over the Internet, there is expanded scope for organised crime to operate.
The study said that to fight corruption in football a greater understanding of the risks of money laundering associated with the game is needed on the part of government bodies and the private sector.
It argued that given the international nature of the sport, there should be greater standardisation of regulations governing management of the football sector worldwide.
“International cooperation and information sharing are key factors in the fight against money laundering” in football, the study also stressed.
Sports
Pillar Of Associations Tournament To Welcome Sponsors
In a bid to make the Pillar of Associations Rivers state football tournament to become a permanent annual feature in Rivers state football calendar and a veritable platform for alternative career opportunity for Pillar members and members of Rivers football community, the Chairman of the tournament’s Organising Committee, Comrade Franklin Obute has stated that they were open to welcoming sponsorships from corporate entities and well meaning individuals.
Comrade Obute in an interview with news men on a match day at the ongoing competition at the Rivers State University’s ground said that the Pillar of Associations were ready to partner interested parties, who would be willing to invest in the competition through sponsorship towards elevating the quality and standard of the tournament.
According to him, “The Pillar of Associations tournament, due to the opportunities available, owing to the sheer number of businesses and members obtainable in the Pillar, would be a very attractive opportunity to exploit through sponsorship”.
He stated that there would be a conscious efforts toward sensitising the corporate and private environments to buy into the vision and objectives of the tournament. He explained that due to the open nature of the competition, whereby members of the association are allowed to engage any footballer from across the country, whether a business man or not, any sponsor would be able to enjoy unimaginable mileage.
“Every multinational company, private businesses should aspire to be part of the sponsorship of this tournament because there are so much benefits derivable therein, the coverage is very wide. You know that organising a football tournament of this nature is capital intensive, so, any sponsorship to add more value is welcomed”, he said.
The 2025 edition is currently ongoing and has reached the second round stage where matches are now being played on knockout basis, beginning from Friday.
By: Gabriel Nwanetanya
Sports
50th Anniversary: Over 150 Golfers, 11 Countries Set For Ikoyi Ladies Golf Tourney
Some of the best golfers across Africa are expected to converge on the Ikoyi Club 1938 Golf Section for the three-day Ikoyi Ladies Golf Tournament holding from November 11 to 13.
The star-studded amateur open tournament is part of the activities lined up by the leadership of the club to celebrate the ladies’ tournament’s 50th anniversary.
Speaking at a world press conference at the Club’s headquarters in Ikoyi, the Ladies Club Captain, Mrs Peggy Onwu, explained that the tournament will offer opportunity for leading amateur golfers across 11 countries of the world to showcase their skills on the green lawn.
According to her, over 150 golfers have already registered for the open tournament, which will attract mouth-watering prizes, including a trophy, a premium ticket to the United States of America, among others.
The event will be preceded by ‘Twilight evening,’ which will see the participants play the golf game towards dawn, in a relaxed atmosphere with cocktails, networking and good music.
She thanked the various sponsors of tournament, including PWC, Delta Airline, Western Star, First EGP, among others, for identifying and keying into the Club’s goals and aspirations as part of their corporate social responsibilities.
Mrs. Onwu added that the event was not only a celebration of resilience, commitment, dedication and sacrifice, but a rare display of exemplary team spirit by all members of the Ladies Golf Section.
Thrilled by the presence of a Nigerian-born Italy- based golfer and fashion icon, Bali Lawal, as well as other professionals expected to grace the tournament, she promised that the tournament will be a memorable outing aimed at mentoring ladies keen on honing their golfing skills.
Speaking in the same vein, Vice Lady Captain, Annie Eimiakhena, explained that the tournament will entail three days of competitive outing showing skills, professional dexterity.
She added that participants and golfers will use the opportunity of the event to network among themselves, while a Masterclass will be held to educate would-be golfers on the dynamics of the game.
Sports
NPFL : Finidi Praises Players Over Draw Against Insurance
The Technical Manager of Rivers United FC of Port Harcourt, Finidi George has praised his boys (players) as they ran away with a point in the rescheduled match day nine of the Nigerian Professional Football League (NPFL) against Bendel Insurance.
According to him, before the game, he told his boys that they have to put up a good fighting spirit in the game, knowing that it will not be easy at the Samuel Ogbemudia Stadium, Benin City.
Finidi said this last Thursday in his post match interview with sports journalists and made available to Tidesports after they secured a goalless draw against Insurance.
He explained that in the first half, the game was 50-50 but in the second half after 15 to 20 minutes, my players pushed them back, looking for goal but they were able to hold them and got the draw.
“ From onset, I knew it was going to be a difficult game. Yes, we have to defend deep and get something. Kudos to my boys, they put up a good fighting spirit.
“ Despite the host creating good number of chances even hitting the crossbar but I must say that the draw is not a bad result.
“ Wasiu Falolu came closer in the second half but his long ranged shot just went over the bar.
“It was not a bad result but we have to move on and see how we can get good results from other matches” Finidi said.
By: Kiadum Edookor
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