Soccer super-agent scores €19m dividend from Dublin company

Money drawn from Irish arm of Jorge Mendes’ Gestifute football agency, accounts show

Cristiano Ronaldo  with his agent Jorge Mendes, his son Cristiano jnr and his mother Maria Dolores dos Santos AveiroPhotograph:  Gerard Julien/AFP/Getty

Cristiano Ronaldo with his agent Jorge Mendes, his son Cristiano jnr and his mother Maria Dolores dos Santos AveiroPhotograph: Gerard Julien/AFP/Getty

 

Global football super-agent Jorge Mendes, whose clients include Cristiano Ronaldo and Jose Mourinho, has taken a dividend of close to €19 million from the Dublin arm of his Gestifute football agency.

Gestifute International, which is headquartered on College Green in Dublin, increased its operating profits last year by a quarter to €25.7 million, according to accounts just filed.

The financial statements show that the company paid out a total of €20 million in dividends, from which €1 million was paid to Luis Correia, a nephew of Mr Mendes who acts as a director of the Dublin branch and owns 5 per cent.

The rest was paid to Start, a holding company for Mr Mendes in his native Portugal.

The Irish branch of Gestifute employs just five staff, but has been extremely profitable for Mr Mendes who also represents Monaco footballer Radamel Falcao and the Manchester United goalkeeper David de Gea.

Despite paying Mr Mendes dividends of more than €40 million in the past three years, it still holds €7.2 million cash in its bank accounts. Its figures in 2016 appear to have been boosted by the recognition of an extra €10.6 million in “deferred income”.

The accounts were recently signed off by Mr Correia and his fellow director, Dublin accountant Andy Quinn. Gestifute is registered to a Dublin address used by the accountant.

Mr Quinn was previously the managing partner of Cork and Dublin accounting firm Moore Stephens, until he left it earlier this year.

While at Moore Stephens, Mr Quinn acted as a director of Irish companies linked to Mr Mendes that in the past year have cropped up in Spanish tax investigations into football stars including Mr Ronaldo, Mr Mourinho and also Paris Saint-Germain footballer Angel di Maria, who were clients of Mr Mendes.

Mr Di Maria and Mr Mourinho have both recently made tax settlements, while Mr Ronaldo has denied wrongdoing and his case is ongoing.

Mr Mendes, Gestifute and Mr Quinn were not accused of wrongdoing by tax authorities.