As the Premier League nears its climax this weekend, its junior cousin the Football League is reviewing its insolvency procedures, with dozens of clubs potentially heading for financial trouble
Accountancy Age, 08 May 2008
An arbitration panel has called on the League to review its insolvency rules after Leeds United lost its appeal to overturn a 15-point deduction.
Football clubs that go into administration have to go into a creditor voluntary arrangement post-administration to get back into the Football League.
It called for ‘clear guidelines, objectives and procedures’ for clubs that fail to enter CVAS.
But in an intriguing postscript to the judgment, the panel also highlighted the clubs’ parlous state: ‘We were told that there are 40 or more current or anticipated insolvencies.’
Read more at football-league.premiumtv.co.uk
He’s spent more than a decade at the top of...
The race to become the biggest firm on the planet...
Comments
Have your say on this article