Cristiano Ronaldo Watch June 12th
Ronaldo to pick up £29m-a-year from Real?
Real Madrid-bound winger Cristiano Ronaldo looks set to become one of the highest paid sports stars in the world.
A report in Friday’s Times newspaper claims that although the player, who is set to complete a word record £80m move from Manchester United to Real by the end of the month, would initially earn £9.5m-a-year the contract would include a 25% increase season-on season.
Couple of key points from this article.
Ronaldo will also benefit from healthy tax breaks provided by the Spanish government which would not be available to him in England. It is a situation which one financial expert believes could force other big names to leave the Premier League. Arsenal’s Andrei Arshavin is already disillusioned at his tax bill.
Joe McLean, a partner with Grant Thornton, believes high-earning stars will inevitably be drawn to countries like Spain due to the prospect of the 50% income tax rate coming into force in the UK next April.
1) Paying 22% tax is a lot better than paying close to 50% in Tax. I’d want to jump ship myself with those savings.
2) Andrei Arshavin’s agent is an idiot and should be fired right on the spot. I know in Russia sports team cover the tax for you but for his agent not to know this doesn’t apply in England is foolish.