Thursday, August 15, 2013

French football sees red over Monaco tax breaks

Being based in the tax haven of Monte Carlo, they are able to offer overseas stars - such as Colombian striker Falcao, a £51m summer signing from Atletico Madrid - massive tax-free salaries, something their 19 French-based league rivals are unable to do.

"The advantage is huge in being able to convince huge players like Falcao to move to the club," says French journalist Cyrille Haddouche of Le Figaro newspaper, who has been watching events closely.

He points out that while these tax rules have always been in place, what is different now is that their effects are being multiplied by "the huge wealth of the Russian owner".

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