Coach Benitez leaves Liverpool
Friday, June 04, 2010
The Premier League club's board signalled the 50-year-old's departure when it approved a payoff, reported by British media to be around £3.0 million, despite agreeing a five-year contract in March last year.
According to the terms of that deal, Benitez would have been entitled to a severance package of around £16.0 million but Liverpool, burdened by debt and financially impoverished, would have struggled to pay him off in full.
Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...