And we think we've got problems! We are not alone!
Tue Aug 03, 2010 8:40 am
I don't like to gloat on other team's suffering, particularly when our own position is so precarious, but other teams are in similar positions. (Southend appear to have at least bought themselves a year's reprieve this week).
The Portsmouth situation is particularly difficult, and HMRC are going to court for 2 days. This isn't just about the alleged £25-37 million owed to them, but also about whether football related debts should take priority over the taxman and should be paid in full when a club goes into administration. If these football debts lose their priority status, then, for example, if we went into administration now, Charlton would be out of pocket £500,000, sunderland £1.5m, etc etc. Just imagine the knock on effect if bigger clubs went into administration owing money to smaller teams!
Something to think about.
Portsmouth:
http://www.skysports.com/story/0,19528,11095_6289869,00.html
http://news.bbc.co.uk/sport1/hi/football/teams/p/portsmouth/8839169.stm
If this decision goes against Portsmouth it could have huge financial repercussions for all teams, particularly Premier League teams who all apparently use similar off-shore schemes for "image rights".
Blackpool:
http://news.bbc.co.uk/sport1/hi/football/teams/b/blackpool/8874290.stm
Seems they were more un-prepared for Premier League life than we would have been - I can't help think a similar situation would have arisen with us.
Sheffield Wednesday:
http://news.bbc.co.uk/sport1/hi/football/teams/s/sheff_wed/8873036.stm
A better supported club than us, but a division lower.
WE ARE NOT ALONE!
The Portsmouth situation is particularly difficult, and HMRC are going to court for 2 days. This isn't just about the alleged £25-37 million owed to them, but also about whether football related debts should take priority over the taxman and should be paid in full when a club goes into administration. If these football debts lose their priority status, then, for example, if we went into administration now, Charlton would be out of pocket £500,000, sunderland £1.5m, etc etc. Just imagine the knock on effect if bigger clubs went into administration owing money to smaller teams!
Something to think about.
Portsmouth:
http://www.skysports.com/story/0,19528,11095_6289869,00.html
http://news.bbc.co.uk/sport1/hi/football/teams/p/portsmouth/8839169.stm
If this decision goes against Portsmouth it could have huge financial repercussions for all teams, particularly Premier League teams who all apparently use similar off-shore schemes for "image rights".
Blackpool:
http://news.bbc.co.uk/sport1/hi/football/teams/b/blackpool/8874290.stm
Seems they were more un-prepared for Premier League life than we would have been - I can't help think a similar situation would have arisen with us.
Sheffield Wednesday:
http://news.bbc.co.uk/sport1/hi/football/teams/s/sheff_wed/8873036.stm
A better supported club than us, but a division lower.
WE ARE NOT ALONE!
Re: And we think we've got problems! We are not alone!
Tue Aug 03, 2010 8:41 am
Your Def right there and slowly We are getting through Ours 
Re: And we think we've got problems! We are not alone!
Tue Aug 03, 2010 8:59 am
It looks like portsmouth have alledgedly tried to disguise the amount owed to the taxman to get the IVA through, if the taxman can prove that they have done that then the taxman can stop the IVA
Re: And we think we've got problems! We are not alone!
Tue Aug 03, 2010 11:16 am
Football = Fucked
Re: And we think we've got problems! We are not alone!
Tue Aug 03, 2010 12:00 pm
Have to agree with Billy, football is a proverbial pack of cards and a lot of them are precariously balanced!! will make for an interesting season in all 4 divisions I think