Friday, November 17, 2006

Tax block Hargreaves move

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Bayern Munich claim Germany's tax laws make it impractical to sell Owen Hargreaves to Manchester United.

Chairman of the executive board Karl-Heinz Rummenigge insisted Bayern will again rebuff any United overtures for the England midfielder in January.
Rummenigge said: "We thought about what to do if we got a good offer, but only the finance minister would be happy.
"Even if we got 30m euros we can only get the tax back on contracts, so we will not sell Hargreaves."
Bayern were powerless to prevent Michael Ballack joining Chelsea last summer when his contract expired, and they are determined to cling on to Hargreaves.
But Rummenigge insisted it is not in Bayern's financial interest to sell Hargreaves.
The former West German international said: "Thirty millions euros over four years is 7.5m euros each year and that means we have 22.5m euros the first year and we have to pay tax on that.
"So Hargreaves will not be going."