Finance guru issues 'brutal' Liverpool claim amid £6bn Luis Diaz controversy
The “brutal reality” is that Liverpool cannot be expected to analyse every minutia of their sponsors’ business dealings.
That is the view of finance expert Doctor Dan Plumley, speaking exclusively to Football Insider about the level of responsibility the Reds have for their commercial partners.
Liverpool have been sponsored by British financial services firm Standard Chartered since 2010, and they announced a four-year extension in July.
An investigation published by The Athletic on Monday (5 September) found that Standard Chartered have provided £6.18billion worth of finance to a coal mine in Cerrejon, the hometown of 25-year-old forward Luis Diaz.
It is claimed that the Cerrejon mine has caused “irreparable damage” to the health and environment of the local indigenous community.
But there are too many “fluid parts” in the Liverpool-Diaz-Standard Chartered dynamic to make any sweeping statements about a lack of due diligence on the club’s part, reasons Plumley.
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“I don’t think they’d ever go into minute detail as we see here,” the Sheffield Hallam University expert told Football Insider’s Adam Williams.
“That isn’t to say they don’t do due diligence. All big clubs do. There is this perception of the bank as an institution of trust. That is part of it.
“So, they would do the research but not in this level of detail. There are a lot of fluid parts to this as well. Players come and go, and Standard Chartered have been sponsoring Liverpool longer than Luis Diaz has played there.
“When you start to factor all that in, the brutal reality is that there are a lot of things you can’t account for because it’s so hard to get your head around.”