Panama papers expose: Family denies alleged Lionel Messi involvement in tax scheme

April 5, 2016

Barcelona, Apr 5: Barcelona forward Lionel Messi`s family have denied Spanish media reports that arose following the leak of the `Panama papers` that said he was involved in a tax evasion scheme.

messiGovernments across the world began investigating possible financial wrongdoing by the rich and powerful on Monday after a leak of four decades of documents from a Panamanian law firm that specialised in setting up offshore companies.

The so-called `Panama papers` revealed the financial arrangements of global political and public figures.

While holding money in offshore companies is not illegal, Messi, 28, was on Sunday accused by Spanish newspaper El Confidencial of creating a company with the aim of evading tax.

Reuters could not independently confirm this.

His family issued a statement on Monday denying allegations it said were published by various media organisations that Messi had created a corporate structure aimed at "setting up a tax fraud network".

It added: "The Messi family wish to make it clear Lionel Messi has not carried out any of the acts of which he is accused in the stories and that the allegations of him having designed a tax evasion project are false and injurious, as are those relating to the creation of a money laundering network.

"The Panamanian company referred to in said reports is a completely inactive company, which has never had any capital or active current accounts, and which dates from the old corporate structure set up by the Messi family`s previous financial advisors, with the tax implications for Lionel Messi having been settled at the time.

"In light of the above the Messi family has instructed their current legal team ... to look into the prospect of bringing legal action against the media organisations who published the story."

Reuters could not immediately reach Messi`s lawyers.

BARCA BACKING

His club have given Messi`s family their backing.

"Barcelona wishes to express the club trusts the arguments the Messi family have made public and that from the moment the documents linking Leo Messi with `the Panama papers` were made public, Barcelona have shown their support and solidarity to the player and all his family," the European champions said in a statement.

"The club has put all its judicial, fiscal and administrative means at the disposition of the family should they need to clarify their position and repute in this case," the statement added.

A tax fraud case against Messi is to be heard in a Barcelona court between May 31 and June 3 after the World Player of the Year and his father Jorge were accused by the tax office in 2013 of defrauding the Spanish state of 4.2 million euros ($4.5 million) from 2007-09.

Revenue was hidden using shell companies in Uruguay, Belize, Switzerland and the United Kingdom to avoid paying tax, according to the prosecutor`s office.

Reuters was unable to determine if or how this case relates to the details provided in the `Panama papers`.

Last October a Spanish court ordered that Messi and his father stand trial. The state attorney has proposed jail terms of up to 22 months if they are found guilty.

Messi and his father, who has denied the accusations, paid five million euros to the tax authorities as a "corrective" measure after being formally charged in June 2013.

Messi is preparing to play for Barca in Tuesday`s Champions League quarter-final first leg at home to Atletico Madrid.

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News Network
February 18,2020

Feb 18: There are no half measures for fit-again New Zealand pace spearhead Trent Boult who is ready to challenge India captain Virat Kohli on his return to international cricket during the two-Test series starting in Wellington on Friday. Boult was out of action for the past six weeks due to a fracture on his right hand sustained during the Boxing Day Test against Australia and missed out on the limited-overs leg of the India series. Back for the traditional format, the left-arm fast bowler made his priorities clear ahead of the first Test.

"That's personally why I play the game, to get guys like that (Kohli) out and test myself against them, so I can't wait to get stuck in. But he's an exceptional player. Everyone knows how great he is," Boult said, sending out a warning after landing in the capital city for the opening Test.

New Zealand's last Test series in Australia was a nightmare as they lost 0-3 and India will be a tough test for the Black Caps.

"They are a great side and they are leading the ICC Test Championship. They are very clear on how they wanted to play the game. It was a tough learning curve in Australia. It's good to see where we are in terms of bouncing back," said Boult.

The Basin Reserve track will have a lot for the seamers and in conducive conditions, a wily customer like Boult will prove to be a handful for the travellers.

"I'm preparing for a solid wicket. It generally is very good here and goes the full distance (five days). I do enjoy playing here, the history that's involved, and it's going to be an exciting week building up. I can't wait to get out there," said the 30-year-old who has taken 256 wickets from 65 Tests.

It was frustrating for him to watch his side get walloped 0-5 in the T20 series but exhilarating when it got its mojo back in the subsequent one-dayers.

The Black Caps won 3-0 in the 50-over format. "I think it is what it is. I have just got to put the last six or so weeks behind me and just back myself to get out there and do my thing," said Boult, who warmed up by playing a club game at the picturesque Taupo ground.

Boult did find a bit of humour in his injury which, for him, was more of an accident.

"If I had to break a hand, (it would) probably be my right one. Breaking a hand, you don't really know how much you use it unless you break it," said Boult.

"I was pushing in off the long run. I think a couple of the clubbies from Taupo really enjoyed that. It was a good afternoon," added the pacer, who sent down eight overs in a friendly game for his club Cadets.

While bowling isn't a problem, Boult is hoping that catching doesn't become an issue.

"Everything has gone very well but catching will be the biggest issue for me," he said.

Professionally, Boult had to lie low due to injury, but it was also a good break as he and wife Lana welcomed their second child.

"Having some time away from the game and having my second son a couple of weeks ago came at quite a good time," said Boult.

Fighting fit, all he wants now is to get hold of a red kookaburra and get a few to tail into Kohli and company.

"I am hungry to be here and can't wait to get back in the white and get the red ball moving around," he said.

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Agencies
August 2,2020

New Delhi, Aug 2: Batting great Rahul Dravid has attributed Chennai Super Kings' consistent run in the IPL to skipper Mahendra Singh Dhoni's instincts, game-smarts and the incredible amount of work that goes behind the scenes.

N Srinivasan, the former BCCI president and head of India Cements, which owns the CSK franchise, agreed that Dhoni is a man of instinct who doesn't believe in attending team meetings and going over data.

Both were speaking at a webinar organised by the Great Lakes Institute of Management.

"If you look at the success CSK has had, they've got really good access to data and they've got really good access to people behind the scenes and they've run cricket teams at the junior level," Dravid said at the webinar according to ESPNcricinfo.

The former India captain added, "They understand talent and they've obviously got a good scouting process in place. But, what they also have is a captain who really understands instincts.

"So, I mean, look, I know Dhoni quite well and I hope he hasn't changed, but I know Dhoni is probably not one to look at reams of data and statistics."

The Super Kings have won the lucrative tournament three times -- one less than Mumbai Indians -- and reached the knockouts in each of the 10 seasons they have been a part of.

Srinivasan also spoke about how Dhoni's instinct and judgement contributed to his team's success at a time when a lot of emphases is placed on data.

"We're awash with data just now. To give you an example, there are bowling coaches and in a T20 game, they play videos of every batsman whom they're going to come against and they see how he got out, what's his strength, what's his weakness etc.

"So, MS Dhoni doesn't attend this, he's a pure instinct man. The bowling coach, (head coach Stephen) Fleming will be there and everybody will be there, everyone is giving opinions, (but) he'll get up and go.

"In the context of instinct, he feels that okay he can assess a batsman or player on the field, that's his judgement. On the other hand, there is so much of data that is available to help a person also analyse. It's a very difficult line to draw (between data and instinct)."

Srinivasan also recalled how Dhoni once refused to take "one outstanding player" suggested by the franchise boss as that could have broken the team's cohesion.

"There was one outstanding player that we suggested to MS, he said: 'no sir, he will spoil the team'. The cohesion within the team is important and see in America, franchise-based sport has been there for such a long time," he said.

"In India, we're just starting and we're new to it. But we at India Cements have had a lot of experience running teams at junior levels."

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Agencies
April 2,2020

Lausanne, Apr 2: The postponement of the Tokyo Olympics and the shutdown of the sporting calendar because of the coronavirus pandemic are going to hit international sports federations hard financially.

Many sports that are part of the Games depend heavily on the payouts every four years from the International Olympic Committee (IOC).

"The situation is tense and very gloomy. An assessment will be made, but clearly some posts are under threat," said an official of a major international federation.

The 28 international federations (IF) of the sports that were due to be present at the Tokyo Olympics, would have received substantial sums from the IOC.

However, the postponement of the Games until 2021 could lead to a freeze of their payment.

"We have a lot of IF with substantial reserves, but others work on a different business model, they have income from major events which are suspended, which can be a problem for the cashflow if they don't have enough reserves," said Andrew Ryan, director general of the Association of International Olympic Summer Sports Federations (ASOIF), which is responsible for distributing this money.

The five additions to the Tokyo Games programme - karate, surfing, skateboarding, climbing and baseball/softball - are not eligible.

The Olympic payout totalled 520 million after the Rio Games, four years ago.

"The Olympic money could be less than for Rio 2016," Ryan warned before adding: "My advice is to budget the same as in Rio".

The federations receive money on a sliding scale determined by their audience and size.

The three largest (athletics, swimming and gymnastics) can expect approximately 40 million.

For the second tier, made up of cycling, basketball, volleyball, football and tennis, the sum is 25 million.

For group three, which contains eight sports, including boxing, rowing, judo and table tennis, it is 17 million.

The nine sports in the next level (including sailing, canoing and fencing) receive 12 million.

For the three in the last category (rugby, golf, modern pentathlon) the payout is 7 million.

For the largest associations, such as football's FIFA which has a 1.5 billion nest egg, or basketball body FIBA which has CHF 44.4 million (42 million euros) in reserves, IOC aid represents a small proportion of their income.

For others, it is vital.

"Some IF probably don't have the cashflow to survive one year," said Ryan.

For most federations, the postponement of the Olympic Games has a domino effect, forcing them to reschedule their own money-earning competitions.

"The revenues from these events will eventually come in," said Ryan. "But this impacts the cashflow." World Athletics has already postponed the 2021 World Championships in Eugene, Oregon to 2022.

The International Swimming Federation (FINA) will have to do the same for its World Championships scheduled for next summer in Fukuoka, Japan, when they would probably clash with the Tokyo Games.

"One edition of the World Championships means for us 10 million in revenues," said one sports federation official, speaking on condition of anonymity.

"If this income is postponed, totally or partially, for a year, we will face major problems, especially if the IOC money, originally expected in September, is not paid out."

The Singapore-based International Table Tennis Federation has already taken steps, with "the Executive Committee agreeing to reduce their expenses and senior staff offering to take a salary reduction," said marketing director Matt Pound, but, he added,"further cuts will take place if needed."

- 'Significant loss of revenue' -

The ITTF has suspended all its competitions until June and that is costly.

Kim Andersen, the Danish president of London-based World Sailing, said commercial revenues are not immune.

"The IOC will eventually pay out its aid, but what weighs most heavily is the uncertainty about whether our competitions will be held and whether our sponsors will be maintained," he said.

The IOC is not prepared to go into details of what it plans.

"It is not possible at this stage to assess the overall impact" of the postponement of the Tokyo Olympics, an official told AFP.

"It depends on a number of variables that are currently being studied." According to an official of one federation: "the IOC will discuss on a case-by-case basis, sport by sport".

Another option is for the federations to ask for a share of the public aid set up to deal with the coronavirus crisis, in Switzerland, where 22 ASOIF members are based and also in the United Kingdom, home of World Sailing.

"Can sports federations benefit from federal aid? The answer is yes, in principle," Philippe Leuba, State Councillor of the canton of Vaud, in charge of the economy and sport, told.

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