Sunday, May 28, 2006

Criminal Capitalism-Sports-Soccer

Economic fallout of Italy's soccer scandal is as wide-ranging as soccer economy
Milan stock exchange authorities have regularly suspended Juventus stock from trading in recent days to stop a free fall that has seen the value tumble 30 percent in the last week -- bad news for the Agnelli family of Fiat SpA, which owns a controlling stake, as well as thousands of small shareholders trying to cut their losses.
World Cup: Italy warms up - with rampant soccer scandal

Less than a month before the World Cup, and on the weekend when Italy's Serie A championship is decided, some of the country's top football clubs are engulfed in scandals that threaten to discredit the sport in one of its spiritual homes.

Worst affected is Juventus, one of the world's most famous clubs, which will win its 29th scudetto today if it beats lowly Reggina. The general manager, Luciano Moggi, has been exposed in tapped phone calls as having leant on referees, the entire board has resigned and several players, including Italy's national goalkeeper, Gianluigi Buffon, are under investigation over separate allegations of illegal betting. But the stench of corruption has spread to other clubs, including Silvio Berlusconi's Milan, which could also win the league today if they beat Roma and Juventus lose. Along with Napoli and Fiorentina, Milan and Juventus are part of an investigation into "criminal association" and "sporting fraud", in which 19 matches are being examined on suspicion that results were fixed.

Sports is big business and thus is subject to criminal manipulation, as we all know just look at Boxing. And Italians love betting as we all know from watching the Soprano's. So we are surprized when the Italian Premier Soccer Team Juventus FC is found to have fixed games? No. Nor should we be surprized when criminal capitalist and would be fascist Sylvio Berlusconi's team A.C. Milan would have won if Juventus hadn't fixed the games. However his team too is caught up in the scandal.

Prodi says soccer scandal metaphor for Italy's 'ethical crises'
Italy's new Prime Minister Romano Prodi has said that Italy's soccer scandal was a metaphor for the many "ethical crises" facing the country.
Prodi, facing a crucial vote of confidence in his new government, told lawmakers in the Senate that allegations of fraud and match-fixing embroiling the nation's top clubs "represents an important metaphor for the situation in the country".
Italy now faced "an ethical crisis, in many sectors, including politics," after five years of rule by the previous conservative government of Silvio Berlusconi, he said.

Also See:

Pro Sports and Criminal Capitalism

The Curse of Bruce McNall

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