Tuesday, June 05, 2007

Another financial controversy with Jack Warner at the center

Sixteen players from Trinidad & Tobago's World Cup roster are threatening to sue the Trinidad & Tobago Football Federation over millions in World Cup revenues they say have been denied them. Shock of all shocks, CONCACAF President and Sepp Blatter's favorite FIFA vice president Jack Warner is at the center of this mess.

A quick summation of the issue is the players signed a contract where they were promised a 50-50 split of World Cup participation monies, a 50-50 split of profits from World Cup warm-up matches and a 50% cut of money from licensing and endorsement deals made with the federation.

In typical FIFA fashion, all the numbers are not known, but we do know that they got $5.5 million for the World Cup and signed an $11 million agreement with Adidas. However, the T&TFF says they only got $300,000 from the Adidas deal.

So how much money are the players going to receive for taking T&T to their first World Cup ever? About $5,000 each.

Now who negotiated this contract with the players? Jack Warner.

In case you've missed it in the past Jack Warner who steered all of T&T's World Cup tickets to a travel company owned by his son. It is the same Jack Warner who was suspected, but cleared by Blatter's boys, of selling World Cup tickets on the black market. It is the same Jack Warner who allegedly secured stadium construction contracts at more then twice their value and obtained the Caribbean TV rights to the World Cup for a fraction of the cost and then resold them at a huge profit. It is the same Jack Warner who sold 65,000 tickets to a 1990 World Cup qualifying match in a stadium that held about a third of that number.

Makes one wonder where all that other money from FIFA and Adidas, not to mention all the other deals, went.

The federation says they deducted expenses and set aside money for 2010 World Cup qualifying. Let's see, $5,000 each at 23 players equals $115,000. Total income that we know about, $16.5 million. So the federation had $16.385 million in expenses? That must have been some room service bill.

It is a shame that these players who gave so much for their team and country got so little in return. It is a bigger shame that FIFA not only does nothing about it, but also keeps promoting the people responsible.

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2 Comments:

Blogger Fullback said...

Did you listen to the latest EPL Talk podcast? The interview with Andrew Jennings is all about Blatter/Warner shenanigans. These guys are disgusting.

12:41 PM  
Blogger Mike H said...

Fullback,

I had not listened to it yet. Thanks for directly me to it. It is really a much hear segment.

9:38 PM  

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