BusinessCorporate FinanceClubs’ future on the line

Clubs' future on the line

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

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

Related Articles

Grant Thornton recruits new corporate finance partner

Accounting Firms Grant Thornton recruits new corporate finance partner

10m Emma Smith, Managing Editor
Total fraud value at £2bn five-year high, finds BDO

Accounting Firms Total fraud value at £2bn five-year high, finds BDO

11m Stephanie Wix, Writer
MHA MacIntyre Hudson appoints corporate finance director

Accounting Firms MHA MacIntyre Hudson appoints corporate finance director

11m Stephanie Wix, Writer
Tyrie on Finance Bill 2017: ‘Making Tax Policy Better’

Consulting Tyrie on Finance Bill 2017: ‘Making Tax Policy Better’

11m Stephanie Wix, Writer
KPMG announces senior partner promotion in Newcastle

Accounting Firms KPMG announces senior partner promotion in Newcastle

11m Stephanie Wix, Writer
Independent city firm reports 70% growth

Accounting Firms Independent city firm reports 70% growth

11m Stephanie Wix, Writer
Tax avoidance crackdown sees 80% jump in additional HMRC revenue

Accounting Firms Tax avoidance crackdown sees 80% jump in additional HMRC revenue

11m Stephanie Wix, Writer
Making Tax Digital: the "unexpected item in the bagging area"

Accounting Standards Making Tax Digital: the "unexpected item in the bagging area"

11m Stephanie Wix, Writer