The Hero Global Football Fund, which has been backed by Alan Hansen and former Football Association executive director David Davies, has been banned by league chiefs.
The fund, which is planning to raise $100 million, was set up by Emirates Investment Services Ltd, a subsidiary company of Emirates NBD, and plans to have a life of five years.
- Del wrote:
The English Premier League has told all 20 clubs they risk breaking rules if they sign players connected to an investment fund launched by Dubai-based bank Emirates NBD.
The Hero Global Football Fund, which has been backed by Alan Hansen and former Football Association executive director David Davies, has been banned by league chiefs.
The fund, which is planning to raise $100 million, was set up by Emirates Investment Services Ltd, a subsidiary company of Emirates NBD, and plans to have a life of five years.
Looks like the fund Managers have not looked into the regulations.
"But the Premier League - one of the major targets for the fund - has studied the details of how a deal would work and have concluded clubs would be breaking the third-party rules that were tightened up following the Carlos Tevez saga at West Ham United.
A spokesman said on the official Premier League website: "We have been in contact with the Hero Fund to ascertain the nature of their business model and concluded from the information provided that this would be in breach of Rules L.34 and L.35 concerning third-party investment."