Billionaires buying up sports clubs
The ultra-wealthy are investing in sport at a rate higher than ever before, with more than 140 of the top sports clubs globally now being owned by 109 billionaires, according to a joint UBS Group and PwC report.
Football
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Ex-Chelsea defender sentenced to jail for tax fraud
Former Chelsea and Real Madrid defender Ricardo Carvalho has been sentenced to seven months in prison and fined €142,882 (£128,222 $167,717) for tax evasion.
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Man Utd the winning ticket: Train
Manchester United has been added to Nick Train’s Finsbury Growth & Income Trust, his first new holding in two years.
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Football clubs feeling the heat of HMRC scrutiny
Following raids by HM Revenue & Customs on Newcastle United and West Ham and with over 40 players and 12 teams under review, football clubs in the UK are taking a more proactive approach to tax.
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More dawn raids on tax evaders as HMRC ramps up action
Dawn raids on suspected tax evaders by UK authorities are up by a third to 669 over the five years to March, as HM Revenue & Customs steps up its pursuit of white-collar fraudsters, reports the Financial Times.
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Ronaldo faces 3.5 years in jail over tax evasion charges
Portuguese football superstar Cristiano Ronaldo is facing up to three and a half years in jail after he was accused of having evaded paying €14.7m (£13.1m, $17.3m) in taxes since 2010.
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Barcelona striker Neymar cleared in $20m tax evasion case
Brazilian football star Neymar has been cleared of any criminal charges in a long-running tax evasion case in Brazil, with the judge citing a “lack of just cause”.
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UK pays out £3m in client claims against Shearer’s former IFA
The Financial Services Compensation Scheme (FSCS) has footed a £3m bill ($3.8m, €3.4m) in compensation to customers served by Kevin Neal, the former financial adviser to ex-football star Alan Shearer.
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Football super-agent denies aiding tax evasion amid Falcao case
Jorge Mendes, a sports agent whose clients include Christiano Ronaldo and Fabio Coentrao, has denied helping footballers evade tax illegally by creating shell companies.
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Messi to swap prison sentence for €255k fine in tax fraud case
Football star Lionel Messi could see his 21-month prison sentence for tax fraud replaced with a €255,000 (£224,313, $285,381) fine, Spanish prosecutors have said.
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HMRC faces claims of ‘unlawful’ raid on Newcastle Utd
The seizure of documents from British football club Newcastle United by HMRC tax officials may have been unlawful, a judge has said.
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Ronaldo eyes Spanish exit in anger over tax fraud charges
Football legend Cristiano Ronaldo may have decided to leave Real Madrid amid claims he is angry at his treatment by Spanish authorities and reports that Portugal has launched its own tax fraud probe into the world’s highest paid athlete.