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Fifa regulations could hurt David Ginola's paddypower challenge

Monday January 26,2015 : F.I.F.A. REGS ON ETHICS COULD STYMIE GINOLA'S PRESIDENTIAL CHALLENGE (Update)
 
Paddy Power's involvement and a lack of governance experience cited.
 
Former footballer David Ginola's much publicised Paddy Power-backed challenge for the FIFA presidency could be in trouble following the publication late last week of a FIFA advisory on ethics.
 
FIFA issued the election guide ahead of next Thursday’s deadline for candidate applications, emphasising that official candidates are bound by its ethics code.  That includes a provision which unequivocally asserts:
 
"Persons bound by this code shall be forbidden from taking part in, either directly or indirectly, or otherwise being associated with betting or gambling."
 
Adding to Ginola's woes is the fact that Paddy Power, which committed to GBP 250,000 of the estimated GBP 2.3 million needed for his campaign, has since announced that they will not be contributing financially beyond January 27 (the deadline).
 
The gambling group has also assured football fans who made donations to Ginola's campaign: ‘In case David doesn’t make it through, we will look to fully reimburse fans who have donated to the campaign.’
 
The donations are being chanelled through a new Paddy Power company titled Rebooting Football Limited, the website for which had previously advised that donations were not refundable, and observers have pointed out that the FIFA ethics regulations also forbid active or passive stakes in companies or organisations that promote gambling.
 
As far as is known, Ginola has yet to obtain the support of at least five football associations, a requirement before a presidential challenge will be accepted, and finally he appears to lack the necessary two years of senior governance experience also required by FIFA regulations.

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Gambling News :

Loot’enKhamun Pays $3.8 Million Jackpot - A London-based construction worker’s year got off to a great start when he hit the Loot’enKhamun jackpot at bwin casino.

PlaySugarHouse To Carry Konami Content - Content provider Konami will provide its Gypsy Fire and Fortune Stacks slot games to Rush Street Interactive-operated PlaySugarHouse.com on an exclusive basis in the New Jersey real-money online and mobile wagering market.

ITF TERMINATES BETWAY SPONSORSHIP DEAL - The International Tennis Federation (ITF) has reportedly terminated Betway’s three-year sponsorship partnership as an extension to their anti-match fixing and sports integrity policy.

GSA To Launch European division - The expansion enables the GSA to better focus on the regional needs of its members outside of North America and underscores its recognition and commitment to growing European membership.

Paddy Power Trading Update - Company prevails despite adverse sports and US election results; Trump success cost the group GBP 5 million, whilst punter successes took another GBP 40 million in Q4-2016.

Tabcorp SunBets project - The details were revealed this week in an IT News article quoting Tabcorp's chief information officer, Kim Wenn, who described the SunBets project as Tabcorp's biggest global venture yet.

SOUTH KOREANS BUSTED IN THAILAND ON ONLINE GAMBLING CHARGES - Those detained were named as Jeong Kyujin (35), Han Kyoreh (26), Choi Sung Ming (35) and Bae Jeonghwan (26), all of whom claimed that they had bene hired by a Korean man to operate online gambling sites.

China Lottery Sales Up in 2016 - The Chinese official news agency Xinghua reports that according to figures from the Ministry of Finance released Monday, Chinese lottery sales in 2016 rose 7.3 percent year-on-year to 394.64 billion yuan (about US$57.53 billion).

New chairman and a new director for 500.com - Chinese online lottery operator 500.com has announced major executive changes to the company with the apparently amicable departure of director and chairman Man San Law, as well as director Weiguo Zhao from its board of directors, effective January 20, 2017.

Russian betting Sites to face rise in tax rates - Online bookies also pay a 1 percent commission on each transaction through the TSUPIS, and face levies at 5 percent of GGR to assist Russian sports federations.

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