UK Soccer Players Threaten to Abandon Pound, Demand Payment In Euros

Leading English Premier League football (soccer) stars are demanding to be paid in euros because of the weak value of the Pound, according to Manchester United, the wealthiest club in world football.

As The FT reports, speaking at the KPMG Football Benchmark event in London on Wednesday. Cliff Baty, the English Premier League side’s chief financial officer said that last summer’s Brexit vote, which led to a sharp drop in the pound against the euro, had complicated the transfers of big-name players.

“It was a bit difficult last year when we were trying to make signings and you had players questioning the value of being paid in sterling,” he said.

“A lot of European players will want to be paid in euros, understandably to a degree. But we are a sterling company . . . [and] managing that is quite tricky.”

The biggest clubs are hedged against currency movements, earning euros from playing in European competition and dollars from international sponsorship deals. Even so, Mr Baty said his club does not have enough euros in hand to accede to the request, insisting players be paid in pounds instead.

The club’s highest paid footballer is Paul Pogba, who earns a staggering £290,000 a week. Before the referendum in June 2016 his salary was worth 380,000 euros but it has since plunged to 330,000 euros.

Mr Baty said other players had questioned the sterling-only policy...

“It is a natural request [from players] in understanding how much you will get paid,” he said.

Wouldn't it be fun if we could all know weeks in advance the exchange rate between the pound and the euro...

What will be the next step? Asking to get paid in bitcoins?

Source : ZeroHedge

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This is ridiculous, the pound has always fluctuated against the euro and is still stronger than it was a few years ago

England football clubs always offer high salaries to attract players. Now they are losing this advantage. Perhaps it is the opportunity for people to focus more on the quality of England football. Football should not be that money-oriented.

Perhaps this is a great idea now, but what about in the future?

The amount of footballers who have absolutely no idea how to manage money is distressing. They should be focusing on secure investments from smart savvy investors or advisors who have their best interests at heart. There must be so many sharks out there who have led players into bad advice, just look at guys like Andy Cole and Danny Murphy.

Bad advice can be costly.....

I would want to be paid in gold or silver...

Surprised some haven't requested BitCoin.

You couldn't find a smart football player even if you had MRI at your disposal

Definitely take the Bitcoins.

Just starting up my Steem, Check my Page :)

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Currency primary purpose is to set value for exchange of product and services. These footballers get it. As fiat currencies tend to drop to zero in value over time, why not get paid in euros or bitcoins.....

Leaving one FIAT to get paid in another that's on a long death spiral , where are they getting their advice from.

Manchester united and other big clubs in the UK might find it difficult to sign players already earning good wages in Euro. Why would someone from La liga move to Manchester United knowing that his wages will be denominated in a weak currency.

Too bad for them. They've benefited from the strength of the pound for quite a while and now the pendulum is finally swinging the other way...

And ManCity too, all the big spenders in England will have a shit load of trouble .

The latest extortion scheme from professional athletes. Why do we give them so much power and status?