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Apr 4

Messy house

The latest Begbies Traynor report on football’s well-being states that:

“Of 68 teams surveyed in the Divisions [Championship, 1 and 2], 13 have signs of distress such as serious court actions against them, including winding-up petitions, late filing of accounts and “serious” negative balances on their balance sheets. That 19% compares to just 1% in the wider economy”.

When will they learn?  The Firm has been Administrator at several clubs that I’ve personally had involvement with: Chester and Huddersfield.  Plus others such as: Lincoln City, Northwich Victoria, Wrexham, Farnborough, Crawley, Scarborough, Bournemouth, Halifax, Southampton and Port Vale.

From a purely selfish perspective this keeps us in business, but how many times do we need to ask when will football get its own house in order?

The survey measures the financial distress of clubs according to problems including serious court actions against them and big negative balances on their balance sheet.

Mar 23

Proud to be “County”

Once again our fans show that they are the best.  Brilliant County fans….and a few other clubs’ supporters besides.  The inaugural “County Charity Cycle” from Stockport County FC to Southport FC was a resounding success.  Last Saturday, all 70 cyclists completed the course (48.7 miles) without any major incidents and judging by the pledges the Organisers hope that the fundraising targets will be reached.  It’s not too late to show your appreciation by making a donation in recognition of these sterling efforts.  Please visit: www.mygift.org.uk/countycharitycycle

The fundraising event was set up to raise monies towards St Ann’s Hospice and Stockport County Supporters Co-operative.  Everybody really enjoyed the day and it is hoped that this may become an annual fixture.  The photograph attached shows the start of the race outside Edgeley Park with Rob Clare heading the field.

Sarah Bennett, Community Fundraising Officer for St Ann’s Hospice said “I just wanted to say congratulations on the event on Saturday. Not only did the weather hold off but everyone made it to the match (eventually!) in one piece! Please extend my thanks to all your volunteers and associated partners for the ride.”

Adrian Stores, Director, Stockport County Supporters Co-operative commented: “This really showed what Stockport County fans are all about. Everyone is justifiably proud of the day.”

In addition, other feedback includes:

“Just wanted to say a massive thank you for arranging the County Charity Cycle. I thought it was great turn out for its first year and the morale on the day was great – I loved it!”

“Many thanks for an extremely enjoyable event on Saturday.  It was extremely well organised and a real success.”

“Many thanks for putting on such an enjoyable event last Saturday.”

“Fabulous day, what County is all about IMVHO”.

Bike ride photographs are on: www.facebook.com/countycharitycycle

Mar 9

Stockport County Supporters' Co-operative

Clear Blue Skies Over Edgeley

… But Cloud Over Football

Today heralded Port Vale Football Club entering Administration – a status, all too familiar to fans of Stockport County.  This is the 92nd insolvency in the top five divisions of English football since 1992. The equivalent of the entire top-four divisions of English professional football!

The Football Authorities have also just released their joint response to the recommendations of the Culture Media and Sport Select Committee Inquiry and the Government’s input on improving the regulation and governance of English football. At this stage, Stockport County Supporters’ Co-operative seeks to emphasise that the proposals are not what we were hoping for. Although they have proposed the introduction of a licensing system, in our view, this stage of the reform process only addresses the ‘principle of licensing’ and thus, doesn’t go far enough.

We endorse the opinions of Supporters Direct and its proposals on this matter, including a clear proposal for supporter-engagement through supporters’ trusts. Stockport County Supporters Co-operative is part of a wider movement of organisations, under this umbrella body, established by supporters of football clubs now stretching not just across England, or the UK, but also across Europe. Ashley Simpson, Chair at the Co-operative commented: “If the substantive issues are not addressed, we fully expect the current trend of insolvencies and financial strife affecting football to continue.”

Stockport County Supporters’ Co-operative and Supporters’ Direct welcomes proposals in the football industry that can help supporters’ trusts to increase their influence in club governance and ownership.

This is a press release that I prepared for the Co-operative. The full stance on governance from Supporters Direct is available at: http://clients.squareeye.net/uploads/sd/Licensing_Proposal_A.pdf

Mar 6

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Magpies been hoarding

As a sequel to ‘Taxman Cometh’, one Premier Club has been tackled – Newcastle United.

Apparently the Club had set aside an amount to pay but the actual figure yet to be disclosed is predicted to be less than the contingent liability that the Club had calculated and ‘stored’ in previous accounting.

Newcastle United has settled its claim for outstanding tax by the HM Revenue & Customs over the payment of “image rights” to players.

The majority of arrears is understood to relate to the payment of image rights to its players.  It is said, a ‘loop hole’ had been taken advantage of and by classifying these payments as image rights rather than salaries they could be distributed to companies (including offshore). Thus, benefitting from reduced corporation tax (26% rather than higher rate at 50%).

I understand that Chelsea and Newcastle have dealt with HMRC though other premiership clubs are following suit. A HMRC spokesman has quoted that: “The majority of premier league football clubs have now confirmed that they will pay tax arising from image rights payments, and we continue to negotiate with those that are yet to settle.”

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