Football clubs receive stay of execution
Portsmouth, Cardiff City and Southend United given more time to settle their tax bills
All three football clubs facing winding-up orders in the high court today
have been given stays of execution.
Cardiff City and Southend United were each given a stay of 28 days to settle
their bills with HM Revenue & Customs, or face another winding-up order.
HMRC told the courts that Portsmouth was “insolvent”, owing the taxman
£11.5m. However Portsmouth argued it had two offers on the table to buy out the
Portsmouth was given until next Friday by the court to provide details of its