OFFICIAL: Wolves have completed the signing of Nelson Semedo from FC Barcelona on a 3-year deal for £29million. That's another Portuguese player Very good signing for them though.
It's the Jorge Mendes connection. He had his home searched a few months ago in a money laundering and tax evasion investigation ......
He has a vested interest in players being sold to Wolves. It’s wide open to manipulation. Can’t believe that the authorities will allow it to go on like this!
Well yeah, hardly surprising as they pay him as an advisor and the company that owns Wolves have a stake in his agency.
Football Leaks did an investigation into Mendes and Guo the founder of the Fosun investment group. Their plan is to trade in players because, as he said, 'trading in talent is often more profitable than owning soccer clubs. It's also a business model that some fans, officials and club owners criticise and oppose. It diverts money to agents and financial investors that would otherwise go to clubs and help sustain the vibrant competition that fans pay to see'. As I write this there's a link to a move to Wolves for Douglas Costa. Another Mendes client.
It’s a bit like when agents represent the club and player... not sure how that is deemed as okay, just a huge conflict of interest. from wolves pov, it works. They can use their links to get players etc, but from an integrity point it seems very dodgy. Nothing wrong with what wolves are doing though, taking advantage of the situation, until the powers that be decide otherwise.
I'm concerned about the morality of it. Money being diverted to agents and investors is money being taken out of the game. We talk about it a lot on our board, the greed of agents. It might be fine for the EFL but it isn't fine by me and shouldn't be for any fan of the game. Now more than ever football needs the money to stay in the game. Player transfers are supposed to be about strengthening competition and helping clubs to win trophies, not about generating profits for agents and financial investors.
You’re conflating issues here for me. I don’t think anyone likes seeing the amount of money that flows out of the game to agents. However, it must be remembered that top players who have the top agents pay their agents a percentage of their total income as part of their contracts with them. What often happens now is that the deals set up, end up seeing the buying club paying the agent a huge fee, but this is offset by the players wage being reduced pro rata. This is merely a tax dodge, as if the player pays the agent out of his PAYE income then he’s paying it after tax. Where agents and investors being involved with players registrations is where it went pear i.e. when they owned a percentage of the players equity. That’s now been banned in the game. The situation at Wolves is merely interesting to me, he’s paid to advise them and that obvs involves him steering players their way, but they still have to purchase them from the parent club, they merely have an advantage, as the agent is selling them as a club direct to his clients. Is that wrong? Not sure it is imo, as ultimately it’s the players choice. Wolves owners holding a stake in his agency via a different Ltd company is merely an investment, no?