The Football League’s decision on the ownership of Notts County was supposed to be a crucial indicator of the success of the fit and proper persons test for owners of football clubs. But the League has backed away from stringent enforcement, at least in terms of transparency and disclosure. The League has given a green light to the new owners, but no one still knows for sure who they are. The League has said that their names could remain secret and the League would not reveal who they are.
The Football League’s decision on the ownership of Notts County was supposed to be a crucial indicator of the success of the fit and proper persons test for owners of football clubs. But the League has backed away from stringent enforcement, at least in terms of transparency and disclosure. The League has given a green light to the new owners, but no one still knows for sure who they are. The League has said that their names could remain secret and the League would not reveal who they are. This does not fit well with Government demands for financial transparency as takeovers from foreign businesses with money in offshore accounts gather pace throughout football. There has also been no explanation as to why certain people behind the takeover were also allegedly involved with a company closed by the courts. Once of these, Russell King, who acted as a ‘consultant’ in a key phase of the takeover, has terminated his association with County. The League admitted in a statement that the ownership structure of the club ‘is complicated and features offshore entities and discretionary trusts. Together with the intial hesitation of the club’s ultimate owners to identify themselves, this made for a lengthy and at times difficult process.’ However, the League said that it was now ‘in possession of the appropriate details for those individuals who exercise control over the club’. So that’s all right then: never mind the fans.
The League have also suspended their investigation of QPR chairman Flavio Briatore under the outcome is known of the Italian’s legal action to clear his name in the ‘Crashgate’ affair. Lawyers have told the League that their hands are tied until after the outcome of the court action started this week in Paris. A full hearing is expected late next month. In the meantime QPR fans facing continuing uncertainty about Briatore’s co-ownership of the club.
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