jermaine pennant leds english exodus
Well, here’s probably the first of many English players going abroad. Serial drunkard Jermaine Pennant will be playing for Real Zaragoza in the La Liga. With the current financial climate in the United Kingdom, who can blame him really? By next April, every Tom, Dick and Harry of the rich and famous nature will be taxed 50 pence for every pound. Just in case, you’re not familiar with the currency – 50 percent of your wage will go to tax.
Currently, Spain’s tax law is capped at 40 percent but big earners can pay as little as 24 percent if they exploit a loophole and acquire “foreign executive” status. The Premier League just can’t compete with that, and many more will be following Pennant unless the British government fix the proposed tax law. In fact, Cristiano Ronaldo’s move to Real Madrid will eventually save him about £15m in taxes.
If it’s not a move to Spain or Italy, then players will be looking for new and better contracts. Chelsea’s John Terry insistence to meet Manchester City’s board might be another consequence of the Government’s reaction to counter the credit crunch. I highly doubt that he will move to the Eastlands, there’s just too much at stake especially with the World Cup next year and not forgetting no Champions League. A ploy to get Chelsea to offer him what City are offering, methinks.
It wouldn’t surprise me if he joins the Galacticos v2.0 once Chelsea fail to give him a new contract.
City are setting the trend in offering huge contracts to players like Gareth Barry, Carlos Tevez and John Terry. The Eastland club was even reported to have offered Samuel Eto’o a “stratospheric” deal to play for them. And “stratospheric” is more than 300k a week. He’ll be richer than the dancing Sheikh.
Arsenal’s Andrey Arshavin was reported be livid at his agent when he learned of the proposed tax law months after his move to London. He left 13 percent Russian tax so he can be taxed 50 percent, if I was Arshavin I would have sacked that agent already. There are talks about him moving to Spain and a new contract request.
Kaka, Karem Benzema and Raul Albiol rejected offers from Premier League clubs. Franck Ribery only wants a move to Real Madrid, no where else. Brazilians Maicon and Felipe Melo courted by Chelsea and Arsenal respectively, staying put at Serie A and London was a preferred destination for foreign players! No one wants to come to the Premier League, and its the best league for the last couple of seasons.
Anyway, getting off point here. Gordon Brown and Alistair Darling both have blood on their hands, the Premier League’s blood.
