Dosh
Watching Chelsea replicate Internazionale’s catenaccio last night I could not help but wonder why I still harboured feelings of sympathy for the London club built to the tune of Abramovich’s millions. There is a general sense of resentment that is held against football clubs built with the money of tycoons and not with the sweat and capability of good planning – just look at the opprobrium that the City side of Manchester have attracted thanks to the millions thrown at them over the last few years.
The rules of the Premier league have evolved since Portsmouth went into administration under the watchful eyes of the management of the world’s most successful tournament. Anybody wishing to spend a few million bobs on his favourite toy will now have to bear the scrutiny of numerous tests aimed at ensuring that the provenance of the money is legit. Mr Madjesky of newly promoted Reading knows a bit about these tests as the proposed purchase of the newcomers by Russian family Zingarevic is on hold until the appropriate checks are made. The Premiership is no place for recycling money – that’s for sure and until Platini’s fiscal rules on club finances are activated the current rules will go a long way to avoid jackals spoiling the fate of historic teams.
Another man reported to have eyed investment in the Premier League was Emir Al Thani of Qatar. He was supposedly prepared to part with over a billion dollars to get his hands on Manchester United. The Red Devils are still owned by some US Emir Glazer but Al Thani has meanwhile been reported to have set his eye on investing his (country’s) billions elsewhere. Maltatoday reported that Qatar was eyeing up a €1 billion investment in Enemalta. Now it may be a far cry from dealing with Alex Ferguson but Al Thani and Qatar might have their reasons to be attracted to investing in the tiny island’s power grid.
The Maltese government is going to great pains to whet the Qataris appetite and has apparently got plans to set up an embassy in Doha. Which is good to a certain extent. There is nothing wrong with building good relations with some of the countries that seem to still have money in a world of begging bowls and bailout plans. There is a big but however – and not of the Sir Mix-a-Lot kind.
Friends United
While the Qatari government might have an impressive CV on its lap with regard to investment, future planning and whatnot (last night Chelsea faced a Barcelona team that featured the Qatar Foundation sponsor on its shirts) it does remain a country that, democratically speaking, is in the throes of early development. Babysteps. We are talking of an absolute monarchy and although elections are planned for 2013 the consultative council remains just that – consultative. As for the human rights track record, though we are not talking North Korea you may see more from this Amnesty International Report:
Women continued to face discrimination and violence. Migrant workers were exploited and abused, and inadequately protected under the law. Around 100 people remained arbitrarily deprived of their nationality. Sentences of flogging were passed. Death sentences continued to be upheld, although no executions were carried out.
Forget free expression or press freedom too. Which is a bit worrying. While the behemoth parties in Malta are currently engaged in a “Your Friends are Worse than Mine” battle regarding past and present relationships with illustrious leaders of the Libyan Jamahiriya or North Korea we have this kind of proposed agreement in progress. Our question is: How far does the “beggars cannot be choosers” principle apply? Just like Mintoff took the begging bowl to North Korea and China and shut his eyes to the desperate cries of oppressed workers in those countries (so long as il-Haddiema got their dishout of SAG weaponry) are we not committing the same error today?
I am not convinced that Emir Al Thani can become another Gaddafi but does this kind of international agreement not merit a better form of scrutiny? What policy should Malta have in this sense? If we were talking about a multimillion investment by a private company do we dive in blindly thanking whatever Madonna is currently in vogue for the windfall? In the case of companies there is a due diligence process that is (hopefully) conducted.
White Rocks
On a final note I notice that the ghost of the White Rocks multimillion sport investment has resurfaced conveniently in the run up to another election. We had not heard about the White Elephant for quite some time now – just as the trombones and trumpets surrounding SmartCity also went deafeningly quiet. Clyde Puli (another not too ubiquitous politician) has told us that “substantial progress” had been made in talks with investors. The figure of 800 new jobs was obviously mentioned but there seemed to be no more information forthcoming about what stalled the talks in the first place and why over a year after the initial brouhaha we are just able to talk about “substantial progress”…
Show me the money? And at what cost?
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