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“Bubble” warning over rights of football clubs

Finance Minister Haris Georgiades on Monday warned of the danger of creating a bubble as regards the rights of football clubs in Cyprus.

And he also agreed with the Auditor General’s recommendation that decisions of this kind should be based on economic logic.

Georgiades was talking to journalists after an extraordinary meeting of the House Watchdog Committee.

“I have no disagreement with what the Auditor General has suggested, that is to say that a positive economic impact must be ensured by any such decision,” he said.

He also reminded that he had warned some time ago that football rights “seem to be creating another bubble with prices that really go beyond common sense.”

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