Changing Room Chat: Dirty cash blights Argentine game

Published on Thursday 16 February 2012 00:00

ARGENTINA’S government announced tough new rules to combat money laundering in football last night, requiring detailed reports on transactions involving many more people than just players and staff.

The rules require the Argentine Football Association and every club in the top two divisions to file reports not only on everyone on the payroll who makes at least 60,000 pesos ($13,800) a year, but everyone they do business with as well.

That includes not just league officials, players, owners and staff, but also corporate sponsors, media figures, investors in players and team property, agents and government officials. And the income they must report includes not just salaries, but outside bonuses and prizes, loans and deals for image rights, as well as in-kind payments such as housing, cars, and financial deals involving family members. Those who fail to comply could be fined up to 100,000 pesos ($23,000) or ten times the amount of money involved, whichever is greater.

Many Argentine clubs are deeply in debt despite the vast sums of money that flow through the football industry.

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