Charlie-Brown Posted October 22, 2010 Share Posted October 22, 2010 A story about Glentoran possibily being the next club going into administration. Key sentence from the article in bold. http://www.footballtradedirectory.com/news/2010/october/glentoran-could-be-next-club-to-face.html Irish League club Glentoran could be the next club to face administration after Revenue and Customs told the club it will begin court proceedings to recover money owed. Should Glentoran go into administration, either voluntarily or if forced to by Revenue and Customs, the clubwill have nine points deducted from its league score. It is reported that Glentoran owe as much as ?300,000. Attempts to improve the clubs financial situation, including putting its top five players on the transfer list and becoming the first Irish League club to put its stadium naming rights up for sale, have not solved the cash crisis. It appears that Revenue and Customs want to recover all football club debts in the next twelve months. This would mean a ?25,000 monthly repayment for Glentoran. As the club cannot agree to such a figure Revenue and Customs may have no choice but to initiate court proceedings Link to comment Share on other sites More sharing options...
tynewater Posted October 22, 2010 Share Posted October 22, 2010 About time. Football clubs should stop living in the bizarre fantasy world they have been inhabiting, and pay their taxes like everyone else. If their directors can't run their clubs properly, they should be given the boot and competent people brought in to run them. Ultimately, if they can't be run properly they should be allowed to go bust. Perhaps we'll then see clubs stop doing totally irresponsible things like signing players when they don't have any money to pay them. Link to comment Share on other sites More sharing options...
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