July 18 (Bloomberg) -- Soccer player Zlatan Ibrahimovic, who was signed today by Paris Saint-Germain, will be subject to French President Francois Hollande’s planned 75 percent income tax rate.
The club’s announcement that it was signing the Swedish striker from AC Milan on a three-year contract forced the French government to clarify whether professional athletes will face the “millionaire tax.” A rate of 75 percent on income of more than 1 million euros ($1.23 million) was among Hollande’s election campaign pledges.
Ibrahimovic will earn 14 million euros annually, sports daily L’Equipe reported. Sports Minister Valerie Fourneyron said that indicates that European football needs more regulation.
“These sums are astronomic and unreasonable,” Fourneyron told journalists after a meeting of the French cabinet in Paris. “They’re among the things that we can deplore today in football, the complete lack of regulation.”
PSG finished second in France’s Ligue 1 last season, three points behind champion Montpellier. Ibrahimovic is the second player PSG has signed from AC Milan in as many weeks, after Brazil defender Thiago Silva.
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