Tax crackdown extends to image rights

The taxman’s crackdown on football is extending to image rights.    Revenue and Customs is supicious of the deals struck between ‘image rights’ companies and players and considers that their real aim is often to attract foreign-based players who have been put off by British taxation levels.  Clubs are paying money into image rights companies based offshore and therefore out of the reach of the taxman.   The Premier League is still hoping to broker a deal on the issue.

Mixed views about Cardiff’s prospects

Cardiff City FC may have been beaten 4-1 by Chelsea yesterday but they should collect £500,000 from their outing which is of great benefit to a club in financial trouble.  Chairman Peter Ridsdale insists that there is no threat to the club.   The pro-Ridsdale camp emphasise his achievements in cutting an inherited debt of £32m owed by previous owner Sam Hammam; a leap in average gates to 21,000; a new £50m stadium; an FA Cup Final appearance in 2008 and a team that is in contention for a play-off place and promotion to the Premiership.

Stockport County’s woes continue

The latest bid to buy Stockport County, bottom of League 1 and in administration, has been rejected by the Football League.  A bid had been submitted by a consortium led by former Manchester City striker, Jim Melrose.   In a statement the administrators said.

Taxman loses patience with football

As has been evident for some time, the taxman has been losing patience with football and has not been allowing clubs to run up big PAYE bills but is asking them to pay promptly like other taxpayers.   This is not surprising when one considers that HM Revenue and Customs has lost an estimated £30m from clubs going into administration and failing to pay all the tax they owe.  

Portsmouth get new court date

Portsmouth have been given a court date of March 1st for the hearing of their winding-up petition.  As well as the £7.4m VAT bill which the club is disputing, they also owe £4.7m in PAYE and National Insurance which does not form part of the court action.  As is so often the case, there are also local businesses that are owed amounts of money that are significant for them.

We’ve only got two administrators

Taking Crystal Palace out of administration is being complicated by the fact that two administrators are involved.  The company that owns the ground is under the control of a separate administrator, PricewaterhouseCoopers, who are acting on behalf of Lloyds Bank which owns the £12 mortgage on the ground.  The ground is worth much more without the club on it given its real estate potential.  However, Croydon Council is insisting that it remains a sports facility to put off any property developers.

Dream ends at County as Eriksson leaves

The dream of promotion to the Premiership in five seasons has finally ended at Notts County with the sale of the club and the departure of Sven-Goran Eriksson.   The Swede will stay on in the purely honorary role of joint life president.