BusinessBusiness RecoveryInsolvent football clubs face points penalty

Insolvent football clubs face points penalty

Nationwide Football League chairmen, meeting today, are expected to adopt controversial new rules that will result in insolvent football clubs having points docked.

Link: R3 slams sanctions of football clubs

The 72 League club chairmen are expected to agree to the sanctions which will be voted on in today’s annual general meeting at Priestfield Stadium in Gillingham.

The sanctions come because of fears that some clubs are using administration to get out of paying their debts and are gaining an advantage over their competitors by declaring themselves insolvent.

This follows the promotion to the Premier League of Leicester City FC, who had previously been in administration.

But insolvency practitioners are expected to speak out against the rules, which they say ignore the financial realities of running a buesiness and are based on a false perception of the situation.

Other topics for discussion at the agm include proposals to change players’ salaries if a club is promoted or relegated, lowering staduim criteria for clubs coming up from the Nationwide Conference, and the expansion of play-offs from four to six teams.

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