Saturday, 24 January 2009

Premier League bans Emirates NBD fund

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.

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