Football penalty splits FDs

The lastest Accountancy Age/Reed Accountancy Personnel Big Question survey shows 42% believe Carlton and Granada should pay the TV channel’s £180m debt to the league while 43% said the two media giants had no responsibility for the money.

Avocet Hardware finance director Graham Bradbury thought the owners of the company should ‘honour its obligations’.

He said: ‘Responsibility must be shared by all the decision-makers, not just those unfortunate enough to be employed by ITV Digital. The company expects its customers to honour their contracts so where is the difference?’

One anonymous FD said: ‘The whole concept of owner companies not taking responsibility for subsidiaries is wrong.’ Another said simply: ‘They’re morally responsible for the debts.’

Many FD thought Carlton and Granada were in the clear. GB Kent & Sons FD Leon Kern said the ‘Football League were in a contract with a separate legal identity and why should the law change just because it does not fit.’

Another FD said: ‘Surely they knew the risks with an untested TV channel. Greed got the better of the Football League.’

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