Search Results
Of (dream) stadiums at Plymouth and Southend
Posted on May 29, 2011
While the insolvency process has many shortcomings when it comes to football clubs, one good thing it does do is shake some of the skeletons out of the cupboard. As a Pompey fan, I’m expecting some pretty shocking data, and, who knows, even legal proceedings, to emerge as forensic accountants work on the liquidation of […]
Posted in 2018, Insolvency, Stadium | 2 Comments »
Endgame at Southend?
Posted on July 8, 2010
The key outcome, at least in the short term, of today’s appearance in court over a winding-up petition from HMRC is that the club has been given another fourteen days to settle the debt of £238,710 (1). However, the club has been asked to show that it is financially solvent if it is to avoid […]
Posted in Debts, HMRC, Insolvency | 6 Comments »
Final final warning for Southend United?
Posted on April 14, 2010
Back in the High Court after a 35 day adjournment, Southend have been given a further stay of execution, but this time for only seven days (1). Chairman Ron Martin’s views on the situation are, as ever, a tad confusing. After the hearing a club spokesman said “The funds are going to be sent immediately […]
Posted in Debts, HMRC, Insolvency, Stadium | 2 Comments »
The Southend Stadium Saga continues
Posted on January 1, 2010
First of all, a very Happy New Year to all readers, although I would have to point out that to fans of most clubs I wish this more in hope than expectation. Regular readers will know that Southend has appeared in these postings before (see postings passim) and, in particular, I referred to Chairman Ron’s […]
Posted in Assets, Benefactors, Chutzpah, Debts, HMRC, Insolvency, Stadium, Trusts | Leave a Comment »
The continuing Southend saga
Posted on November 9, 2009
Having brought the club to the verge of Administration and a ten points deduction over debts of over £2 million, and failed to pay players on time for the fourth month in a row, the club issued the following statement on its website this afternoon: “For completeness we can confirm that all action by HMRC […]
Posted in Debts, HMRC, Insolvency | 3 Comments »
Accrington, Southend … and Worthing
Posted on November 4, 2009
So, will there, in best Jeff Stelling tradition, be dancing in the streets of Accrington, Southend and Worthing tonight? Let’s deal with Worthing first. It’s the home of the HMRC office which deals with the tax affairs of football clubs. Certainly there is cause for dancing, but probably this will be manifested as an occasional […]
Posted in Debts, HMRC, Insolvency, Ownership, Trusts | 4 Comments »
The Tax Man cometh…
Posted on February 23, 2012
There can be no doubt that the abbreviation HMRC is one which has hit pretty well every football fan’s radar screen recently. There have been the two big Administrations at Portsmouth and Rangers. Bubbling away in the background is not only the issue of whether clubs’ use of Employment Benefit Trusts constitutes tax evasion (and […]
Posted in Debts, HMRC, Insolvency | 3 Comments »
HMRC Winding-Up Petitions
Posted on February 23, 2012
The following list is of the winding-up petitions presented by HM Revenue and Customs (HMRC) and its predecessors, the Internal Revenue (IR) who were responsible for the collection of direct taxation such as income tax (PAYE) and National Insurance contributions, and HM Customs and Excise (C&E) who were responsible for the collection of indirect taxation […]
Posted in | 1 Comment »
Round the Lower Levels Part 2
Posted on December 21, 2011
At last, Part 2 of my overview of what is happening from a broad financial perspective. Part 1 ran alphabetically up to Prescot Cables, and is available here. With a slight jump backwards, we pick it up with: Port Vale An interesting case of ‘fan ownership’. Valiant 2001 bought the club from the Administrators in […]
Posted in Benefactors, Debts, HMRC, Insolvency, Ownership, Stadium | 1 Comment »
Stadium developments (and redevelopments)
Posted on October 24, 2011
In the last couple of weeks, stadiums, both those which are newly planned and those where there has been or will be redevelopment, have being popping up on my radar screen with surprising regularity. The saga of what to do with the Olympic stadium shows no signs of reaching resolution. Sadly we seem to be […]
Posted in Assets, Stadium | 5 Comments »
Thin ice at Cardiff?
Posted on August 18, 2010
The news of Craig Bellamy’s loan to Cardiff City, coming as it does on top of five other signings (Koumas, Heaton, Drinkwater, Oloinjana, and John), will have done much to lift the spirits of Bluebirds fans, and to offer them hope that this year they will make it to the Premier League following their recent […]
Posted in Debts, Public relations | 4 Comments »
In the High Court today
Posted on August 11, 2010
Surely a sign of the times – three League clubs faced winding-up petitions in the High Court today: Cardiff City The HMRC petition was dismissed – the club has paid the debt of £1.3m (1). Court papers suggest that the club has had to borrow money to pay its summer debts (2). Sheffield Wednesday A […]
Posted in Debts, HMRC, Insolvency | 3 Comments »
JB’s awards for Season 2009/10
Posted on August 2, 2010
Yes, silly season again, at least, until the Glorious Seventh! SOAP STAR OF THE SEASON AWARD: Some noble efforts this year, but there was no-one in quite the same league as Portsmouth. As if four owners, Administration and HMRC challenging the CVA in court wasn’t enough, they managed to carry on ‘soaping’ over the summer […]
Posted in Uncategorized | 2 Comments »
Club round-up
Posted on July 29, 2010
A variety of snippets of insolvency and related news. Readers unfamiliar with events at particular clubs should use the Quick Club Links in the left side bar for postings passim. Ashford Town (Kent) Today’s the day of the Administration hearing (1) and a resolution (?) of the confrontation between Don Crosbie and Tony Betteridge, co-owners […]
Posted in Debts, HMRC, Insolvency | 7 Comments »
