Wednesday, 26 May 2010

Rothschild caught offside again

Might investment bank Rothschild be regretting ever getting involved in sports finance?
David Moores, the man who sold Liverpool FC to the cash-strapped Tom Hicks and George Gillett, says that the bank (which was representing the two Americans) "telephoned a non executive director of LFC, Keith Clayton, to assure him that both were good for the money".
That misjudgement comes on top of another infamous Rothschild endorsement, this time of Qadbak - the mysterious British Virgin Island-based fund which supposedly was going to bankroll Sven Goran Eriksson's Notts County into the Premier League and buy the BMW Sauber Formula One team.
Despite nosey journalists questioning Qadbak's credentials for months before it vanished, the dodgy fund's reputation was sustained by the unquestioning support of Rothschild banker, Meyrick Cox. He told the Times that Qadbak was a "wholly reputable organisation”. D'oh!

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