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9am Lowdown: Football rich list, Talking Points, presidential pardon

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19th Jan 2017
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Good morning and welcome to this morning's lowdown. In the news today we have Deloitte's football rich list, HMRC's upcoming talking points schedule and a Baseball "hall of famer" receives a presidential pardon after committing tax evasion. 

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Manchester United tops rich list

Manchester United has topped Deloitte’s football rich list, overtaking Real Madrid, who held the top spot for 11 consecutive seasons.

According to the BBC, United generated £515.3m revenue last season - a commercial revenue growth of £71m. Last year’s winners Real Madrid slipped to third position, while their Spanish rivals Barcelona retained second place position.

Combined revenue for the top 20 clubs during the 2015-16 season grew 12% to 7.4bn euros.

Dan Jones, partner in sports business group at Deloitte, attributed United’s commercial revenue growth to their ability to secure commercial partnerships.

“That said,” he added, “they'll face strong competition from Barcelona and Real Madrid to retain the top spot in next year's edition, due to the lack of Champions League football, the weakening of the pound against the euro and, over the longer term, as other clubs enter the commercial market demanding similar deals, using United as the precedent."

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HMRC Talking Points round-up

HMRC will cover topics such as guidance and tips on Domicile and basis periods on the upcoming Talking Points meetings.

The next session, on 24 January, will look at basis periods, in particular commencement years, changes to accounting date and overlapping periods.

The next four Talking Points schedule will be:

HMRC’s Talking Points is a virtual meeting, where attendees can ask questions without the need of a webcam. Click on the session if you would like to register for that meeting. 

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Obama pardons tax evasion baseball player

President Obama has used his remaining days in the White House to pardon San Francisco Giants baseball player Willie McCovey – who was charged with tax evasion in 1995, reports Yahoo Sports.

McCovey made $70,000 from autographs and memorabilia shows between 1988 and 1990, which he knowingly failed to report to the federal government as income. McCovey expressed his gratitude to Obama in a statement issued via the Babseball club.

He said: “I want to express my sincere gratitude to President Obama not only for this kind gesture on my behalf, but also for his tireless service to all Americans.”

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Danny Kent
By Viciuno
19th Jan 2017 13:30

"Obama pardons tax evasion baseball player...

McCovey made $70,000 from autographs and memorabilia shows between 1988 and 1990, which he knowingly failed to report to the federal government as income"

Why? Surley this is an abuse of power? did everyone else who flaunted the law during this period get a pardon?

If you look into it, he served no time and was fined $5000.

A punishment which he deserved.

Is there any reasoning behind these pardons or can they pardon whoever they want?

Thanks (0)