Leaders
Dallmeier

Business Directory

Browse the Directory

Sign Up to the Directory

FC Business Twitter
FC business Linked in
FC Business facebook
FC Business Youtube

Preston North End FC face winding-up petition

Thu 27th May 2010 | Money & Finance

Preston North End are investigating ways of continuing after the football club was issued with a winding-up petition by the Inland Revenue.

The club was 20 days overdue with its April tax and national insurance liabilities and could be forced to dissolve. The club borrowed £550,000 to pay players' wages and has had its shares suspended on Monday 17th May.

Finance director Kevin Abbott said the board was "looking at options".

He also added: "The board of the club face a challenging economic climate and is disappointed that HMRC have taken this action in respect of a debt which is around 20 days overdue.

"We will be looking at our options to solve the issue next week."

Supporters' spokesman Steve Cowell told the BBC that he believed the money would be found and the club had a future.

"We've got young fresh players and a young fresh manager in Darren Ferguson and we've absolutely no problem.

"We'll sort it out next week and it'll be onwards and upwards."

If you have any football business related news stories you’d like to share then please contact us – agourley@fcbusiness.co.uk or ryan@fcbusiness.co.uk

Don’t forget to subscribe to F.C. Business Magazine to keep up to date with the latest comment from the football world. Click here to subscribe

Add to: Google Google | Yahoo Yahoo | Live Live | del.icio.us del.icio | Digg Digg |

Related Articles

Mats Hummels Joins Juan Mata For Common Goal

Thu 17th Aug 2017 | Money & Finance

Bayern Munich and Manchester United stars unite behind Common Goal #CommonGoal World Cup winner and Bayern Munich player Mats Hummels has become the second footballer to join Common Goal , pledging 1%...

Aldershot Town Gets Financial Support From Council

Tue 15th Aug 2017 | Money & Finance

Aldershot Town Football Club has confirmed that Rushmoor Borough Council has agreed to a package of financial support for the club, including rent and rates relief, until 2021. Following on-field...

Chinese debts emphasize need for local players’ association

Thu 27th Jul 2017 | Money & Finance

FIFPro is ready to offer assistance to professional footballers in China and other parts of the world where local player associations do not yet exist. Media reports this week revealed several Chinese...

SPFL: No fresh tax scheme sanctions against Rangers

Wed 26th Jul 2017 | Money & Finance

The SPFL Board today announced, following legal advice from eminent Senior Counsel, Gerry Moynihan Q.C., that there will be no further disciplinary proceedings taken by the SPFL connected with the use...