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The Championship

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Motherwell issue a writ against Cardiff

The signing of Craig Bellamy by Cardiff City on a one year loan has been somewhat overshadowed by the issuing of a writ by Motherwell against the Welsh club.   Motherwell claimed that they are owed £175,000 in transfer fees.  They are considering either sending in the baliffs to try and collect the money at a home game or issuing a winding up order.   Whatever the rights and wrongs of this particular matter, it suggests that Card

Hull back on an even keel

Hull City's financial situation caused great concern last season with fears they might have to go back into administration.   However, their chairman claims that they are now financially stable again.

Chainrai uncertain about Pompey

There is only one serious buyer in the frame for Portsmouth as far as the administrators are concerned, but Balram Chainrai is uncertain whether to buy the club.   From what he says here it seems as if his family could have the final say.   He has said, however, that he will put funds into the club even if he doesn't buy it which seems the worst of both worlds to me.

Thai consortium in for Foxes

A Thai consortium headed by Vichai Raksriaksorn looks set to buy a 49 per cent stake in Leicester City.  Milan Mandaric would thus remain in charge, although the rest of his stake could be bought out at some future date.

Portsmouth win court case

Portsmouth have won a crucial court case broug ht against them by Revenue and Customs challenging their Company Voluntary Arrangement.   The CVA can now go ahead and the club can prepare for the season.  If they had lost, there was a real risk of the club going out of business altogether.

Leeds back on an even keel

Leeds United are back in the npower Championship, but what is perhaps more important for sustainable success is that they are back on an even financial keel after many years of difficulty and disappointment.

Pompey to learn fate on Thursday

Portsmouth will learn on Thursday whether the tax authorities have succeeded in their High Court bid to overturn their Company Voluntary Arrangement on the grounds that the amount owed to Revenue and Customs was underestimated and hence their vote on the CVA was affected.  In Court learned counsel for the taxman argued that Portsmouth was operating a 'sham' arrangement to avoid tax.

Season can't start too soon for Cardiff

The season can't start too soon for cash strapped Cardiff City.   They will start to get some gate money and the first tranche of £5m of television money due over the season.  But in the meantime they have some immediate issues to face including a £600,000 wages bill due today, a transfer embargo and a winding up order in the High Court ib August 11th.

Palace hopeful that CVA deal will stand

Crystal Palace administrator Brendan Guilfoyle is hopeful that Friday's deadline to appeal against the club's CVA will pass without any action being taken by HM Revenue and Customs.  The tax authorities were the only creditor to vote against the CVA and have become increasingly assertive in relation to football clubs.   However, the administrator has been in contact with Revenue and Customs and the case is not re

New problems for Portsmouth

HM Revenue and Customs are launching an appeal against the process by which Portsmouth entered a Company Voluntary Arrangement.   They are alleging that there were irregularities in the calculation of the basis on which the vote was counted and they also have concerns about what they believe are irregularities in relation to insolvency rules.