Q and A with Alan Pace tonight

[dsr]

Hmm, I guess that depends on where the "profit" is and how you define it

Those clubs that are now essentially sports washing projects for various Middle East dictatorships are doing this is showcase their countries, stimulating investment and tourism. That counts surely?

I have to be really careful what I say about clubs run by Russians, but if you put £3 billion of money that has dubious origins in to a club to make £1.5 billion of clean as a whistle money, then I reckon they work out it is worth it.

Don't you?

In a sense, yes. But this isn't money laundering in the sense of illegal funds being washed to avoid taxes, because we do know where Abramovich's money (for example) came from, roughly speaking. Highly dodgy post-independence privatisations for people with the right connections.

In the case of American business models, I'm talking specifically about cash money and the way people using the American sports ownership business model tend to want to take cash out of the club.

[Paul Waine]

In a sense, yes. But this isn't money laundering in the sense of illegal funds being washed to avoid taxes, because we do know where Abramovich's money (for example) came from, roughly speaking. Highly dodgy post-independence privatisations for people with the right connections.

In the case of American business models, I'm talking specifically about cash money and the way people using the American sports ownership business model tend to want to take cash out of the club.

Money laundering isn't an activity to "avoid taxes" it's seeking to disguise the origin of the funds that have been obtained by illegal means, without regard to the nature of the illegal means. The money used to buy Chelsea Football Club by the current, sanctioned owner were obtained illegally following the break up of the Soviet Union and the establishment of Putin's regime.

Yes, we can now also refer to activities as "sports-washing" when spending money on sports is used to create a favourable view of the people spending that money.