PracticeConsultingSheffield Steelers subject to probe

Sheffield Steelers subject to probe

The Sheffield Steelers Ice Hockey Club Ltd is being investigated by the Ice Hockey Superleague for 'improper payments to players'.

‘The findings will be presented to the ice hockey Superleague board on 8 May,’ said a Superleague spokesman.

‘There were many deficiencies at management level.’ He added: ‘That’s why we fined them £50,000 [last month].’

The club was last week wound up in a Leeds district registry court following a petition by HM Customs and Excise on 6 April. The Steelers owe Customs £75,000 and four other creditors supporting the petition more than £370,000.

In a press release, it added the company’s total debt could come to over £500,000 if it includes other possible creditors.

The Steelers have been in hot water since last year. In October 2000 the London Gazette reported a winding up petition by Exel Europe Ltd was presented against the team.

The team has found itself in financial dire straits before.

In April 1999 insolvency practitioners John Russell and Philip Revill, of Poppelton and Appleby, liquidated the Sheffiled Steelers Ltd. According to the practitioners, this company is ‘the phoenix company’ which the Sheffield Steelers Ice Hockey club derives.

Links

The Sheffield Steelers website

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