Bournemouth have settled their tax debt with Revenue and Customs. The payment of the £314,000 debt comes ahead of next Wednesday’s hearing at the High Court, where the League Two side were to face a winding-up order. Subsequently, the Football League have lifted the transfer embargo that was placed on the club in December 2008. However, transfers at the club will continue to be monitored until August 2011.
Bournemouth have settled their tax debt with Revenue and Customs. The payment of the £314,000 debt comes ahead of next Wednesday’s hearing at the High Court, where the League Two side were to face a winding-up order. Subsequently, the Football League have lifted the transfer embargo that was placed on the club in December 2008. However, transfers at the club will continue to be monitored until August 2011.
Bournemouth was one of the first instances of a supporters’ trust being involved in a takeover of a failing club, but they have faced a number of financial challenges over the years. The rather up market seaside resort with its large student population does not offer the best demographic base for financial success.