Leeds United and Boston United entered into administration signing Company
Voluntary Arrangements when they knew that relegation could not be avoided. This
led to suggestions that in addition to picking up an effectively redundant
ten-point penalty this season rather than next, they had also ill-served their
non-football creditors who look likely to lose out on the majority of their
The matter will also be discussed at the Football League board meeting this
week and new proposals will be submitted either at its AGM next month or at an
EGM in September.
An FA spokesman told Accountancy Age that the issue had already been
the focus of discussions by football mandarins. ‘This issue has been discussed
at some length by the FA’s Financial Advisory Committee (which is comprised of
representatives of the FA and various league representatives) and the general
feeling was that there was no obvious alternative that would solve the problem.’
He added: [The issue] will very likely be looked at again in the close season in
light of the Leeds and Boston cases.’
For more go to www.thefa.com
The Financial Reporting Council has issued guidance regarding the annual reporting of 1,200 large and smaller listed companies. The letter highlighted the key issues and improvements that can be made in the 2016 reporting season
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