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The very strange case of Swindon Town
Posted on June 5, 2010
Swindon and Salisbury lie rough forty miles apart, so it is quite possible that a Salisbury City fan may have picked up the latest copy of The Swindon Advertiser and read this intriguing report, entitled ‘Town’s CVA finally signed off‘. Quite what their reaction was I hesitate to guess. They must surely have looked to […]
Posted in Debts, Football Association, Football League, Governance, HMRC, Insolvency | 3 Comments »
St Modwen v. Swindon Town
Posted on November 17, 2009
Swindon Town have one of the worst financial records among English league clubs. They last turned a profit in 1996/97, and have been into Administration in February 2000 with debts of £3.5m, and again in March 2002 with debts of £1.8m. Following the second Administration, they did not emerge from a CVA until the end […]
Posted in Debts, Insolvency, Ownership, Stadium | Leave a Comment »
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 […]
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No. of Clubs
Posted on February 13, 2012
I’m sometimes asked for a magic number – the number of top clubs which have gone into Administration. It’s difficult give a simple answer because: Administration is a misleading basis for counting. Clubs can be wound up without ever going into Administration. A better measure is ‘insolvency event’, a term which can however be defined […]
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The Magic of Football – still there in the Cups?
Posted on January 27, 2012
It’s increasingly difficult to see any magic in the beautiful game other than black magic, especially when you look at it from a financial perspective. You only need to think of the narrow escapes at Plymouth and Wrexham recently, and both Portsmouth and Darlington are standing on the edge of the precipice. The Cups may […]
Posted in Community, Fans | Leave a Comment »
Should Steven Vaughan be worried?
Posted on November 18, 2009
Well, obviously he should about the future of Chester City, but I was thinking rather more of the implications of his signing an undertaking banning him from acting as a company director until the year 2020 (1). The specific implication is that “may no longer act as either an active or inactive director, or exercise […]
Posted in Fit and Proper Person tests, Football Association, Football Conference, Governance, Ownership | 2 Comments »
Arabs and soccerball
Posted on July 8, 2009
It is reported that Charlton Athletic are possibly the subject, again, of a takeover bid from the UAE (1) and (2), this in the context of recent annual losses of £11.5m (3), the selling of fixed assets (4), and relegation to League 1. Less than a week ago Plymouth Argyle (Championship) were taken over by […]
Posted in Benefactors, Ownership | 1 Comment »
Administration ain’t easy
Posted on June 25, 2009
I have long argued that the option of going into Administration is a far from easy option, and that further punishment by football’s governing bodies not only constitutes ‘second punishment’ but is dysfunctional in that it punishes the club rather than the directors who caused the financial problems, and adds to the likelihood of further […]
Posted in Governance, Insolvency | Leave a Comment »
Double blow for Charlton
Posted on April 19, 2009
Charlton Athletic have been relegated (1). This further relegation for a club which was in the Premier League as recently as 2007 places then in the company of Barnsley, Bradford City, Leicester, Leeds, Manchester City, Nottingham Forest, Oldham Athletic, Queens Park Rangers, Sheffield Wednesday, Swindon and Wimbledon. Southampton are currently candidates for inclusion on the […]
Posted in Assets, Governance | Leave a Comment »
