Thursday, January 11, 2007

Beckham to move to LA Galaxy following rule change

The BBC reports that David Beckham has agreed to join Major League Soccer (MLS) club LA Galaxy following the conclusion of his contract with Primera División club Real Madrid at the end of the current season.

The US league, which operates a salary budget, changed its rules in November last year to allow one ‘designated player’ for each of its 13 clubs. ‘A Designated Player's salary charge will be capped at $400,000, but his salary could be higher’, said MLS in the November statement.

In accounts filed with Companies House, Footwork Productions Limited - which lists its principal activity as ‘the provision of the services of David Beckham’ – reported a Gross Profit of £15.5 million for the year ended 31 December, 2005. No revenue was listed in the accounts, however wages and salaries of £19.7 million were listed. The company Secretary is listed as ‘V C Beckham’, and directors are ‘A Adams’ and ‘A Thompson’.

Also involved with the deal were 19 Entertainment, which took on representation of Beckham and his wife Victoria in 2003, and Creative Artists Agency (CAA), which has a sports representation arm.
Andy Brown

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