Prestwich_Blue
Well-Known Member
It's quite common for clubs to do what Atletico did plus they were skint and needed the money quickly. It's like invoice factoring, where companies "sell" the invoices payable by their customers to finance companies to smooth their cash flow.+1. I'm intrigued as to why Done's lending out big money like that. Bent as a u-nail that man
The problem arose when the FA were scrutinising the paperwork on the transfer to make sure everything was OK and it turned out that AM had borrowed the money from a British Virgin Isles registered fund. They insisted on more details & there was some negotiation before they got the name of the fund owner. He wasn't named outright in Der Spiegel but was described as a "north west businessman who'd made his money from selling a chain of high street betting shops that bore his name". How many can you think of who fit that description?
As to why, he's got loads of money sitting there and gets a chance to make some more risk free, as we aren't going to fail to pay the remaining instalments.