German taxman ends Hargreaves move to Man Utd

Manchester
United’s
bid to sign England international
Owen
Hargreaves
from Bayern Munich were scuppered because the German club thought
it would be too costly from a tax perspective.

Bayern chairman
Karl-Heinz
Rummenigge
told SkySports that Germany’s tax laws make it highly impractical
for Bayern to consider any sale.

‘We thought about what to do if we got a good offer, but only the finance
minister would be happy,’ he said

‘Even if we got €30m (£20m) we can only get the tax back on contracts, so we
will not sell Hargreaves,’ he added.

Rummenigge claimed that a sale price of €30m over four would mean the club
would earn €22.5m (£15.2m) in the first year and would have to pay tax on that.

Hargreaves is currently out injured with a broken leg.

Further reading:

Football manager keeps job despite tax conviction

Forensic accountants expected to continue football
probe

Accountant bungles on football field

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