These are indeed troubling times for football fans. Diehards no longer have to fret about league results or the threat of relegation- they’re more anxious nowadays about the financial situations of their beloved but debt laden clubs.
Yesterday came sad news for Crystal Palace fans. Eagles fans saw their club go into administration when cash strapped owners couldn’t find the money to pay off the HMRC.
HMRC, the biggest petitioners for Winding ups in the courts due to unpaid tax bills, can do more damage to the reputation of the football league as they petition for the winding up of four further clubs- Notts County, Cardiff City, Portsmouth and Accrington Stanley.
Its a sad state of affairs when even the most famous clubs in the land like Manchester United and West Ham are up to their ears in debt, causing all kinds of sleepless nights for their supporters despite the fact that affairs on the pitch are far from a major concern.
I don’t blame HMRC though- company directors that run football clubs should act the same as any other company director in the country no matter what line of business they’re in – with responsibility and with an eye on the future. If football directors could achieve this- now that would be a result worth celebrating !
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies
Smith & Williamson has been appointed administrators of charity 4Children