BusinessBusiness Recovery‘Pragmatic’ Revenue drops Wimbledon challenge

'Pragmatic' Revenue drops Wimbledon challenge

The administrators of Wimbledon FC have thanked the Inland Revenue for its pragmatism, after the taxman decided to drop its challenge to the club's vital Company Voluntary Arrangement.

Link: Wimbledon survives second Revenue challenge

The news signals the end of the most high profile attack on the football ‘super creditor’ rule yet launched by the department.

The challenge to the CVA was recently rejected by the High Court and Court of Appeal in successive weeks, but it had been thought the case might go all the way to the House of Lords.

Revenue to get second bite at Wimbledon FC

The development paves the way for the transfer of the Club to a Milton Keynes consortium led by music tycoon Peter Winkleman.

In a statement, Andy Hosking and Nick Wood, partners in Grant Thornton and joint administrators to Wimbledon FC, said:

‘We are pleased to announce that we have today received notification from the Inland Revenue that they will not be taking their objection further by way of an appeal to the House of Lords. This means we are now in a position to complete the transfer of the Club to the Milton Keynes consortium subject to the final approval of the Football League Board. We expect to be advised by the League of a date in due course.’

‘We are greatly relieved to see this matter finally brought to a successful conclusion and would like to thank all those involved with the club, its fans and Peter Winkleman for his commitment and perseverance. We also wish to express our appreciation to the Inland Revenue for their pragmatic settlement.’

‘We would like to take this opportunity to wish the Club well in the future.’

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