A new football fund promoted by Terry Venables has been shown the red card after a regulator ruled it is not licensed to operate in Anguilla. El Tel launched the Football Talent Fund in August with three former footballers.
A new football fund promoted by Terry Venables has been shown the red card after a regulator ruled it is not licensed to operate in Anguilla. El Tel launched the Football Talent Fund in August with three former footballers.
However, the Anguilla Financial Services Commission has said that it is not licensed to operate or administer its business in the Caribbean tax haven. It has also revoked the licence of Cavendish Asset Management, the operator of the fund. The Football Talent Fund said that Cavendish is close to switching jurisdictions.
For a minimum investment of £5,000, the fund plans to target a remarkable minimum return of 12 per cent a year through player development and training.