Date:Friday June 12 2009
At thier Annual General Meeting, Football League clubs have voted to introduce new financial regulations relating to tax payments.
Once necessary practical arrangements have been made, any club that falls behind with its employee related payments to HMRC will be subject to a transfer embargo until such time as the debt is cleared.
Football League Chairman Lord Mawhinney explained: "It is only right that we do not permit clubs that are unable to meet the costs associated with their existing playing staff to make further new player commitments."
Clubs have also agreed to give The League written permission to monitor, as appropriate, their tax affairs directly with HMRC, who have welcomed this new arrangement.
Lord Mawhinney said: "This new regime will provide us with an early warning system where clubs are facing financial problems. It should also help prevent HMRC debt reaching levels that otherwise could hinder the potential rescue of the club through a CVA.
"More importantly, football generally needs to develop a culture of paying its debts rather than putting them off for another day. This will help our clubs to become more financially sustainable in the longer term."
Clubs also approved a proposal from Derby County to increase the number of substitutes for Coca-Cola Football League matches to seven (from the current five), of which three may enter the field of play.
Have your say on The Forum
Follow us on Twitter
Become our friend on Facebook - Add Vital Queens Park Rangers
Date:Friday June 12 2009
Late Heartbreak For QPR (Sunday October 19 2014)
Stats: Queens Park Rangers v Liverpool (Sunday October 19 2014)
QPR v Liverpool - Match Preview (Saturday October 18 2014)
Duo Loaned Out (Friday October 10 2014)
Where Do We Go From Here? (Monday October 6 2014)
Rangers Humbled By Hammers (Sunday October 5 2014)
Stats: West Ham United v Queens Park Rangers (Sunday October 5 2014)
West Ham United v QPR - Preview (Sunday October 5 2014)
One to Watch - Enner Valencia (Friday October 3 2014)
Stats: Southampton v Queens Park Rangers (Saturday September 27 2014)
|7.||The Uncredibale Hulk||11|
|15. Leicester City||8||2||3||3||-2||9|
|16. Crystal Palace||9||2||3||4||-3||9|
|Three Points And No Mistake!
» Arsenal : 26/10/2014 00:35:00
» Swansea : 25/10/2014 23:45:00
|Monk: We'll Work On Our Decision Making
» Swansea : 25/10/2014 22:43:00
|Report - Swansea City 2-0 Leicester City
» Swansea : 25/10/2014 22:15:00
|Much More To Come
» Man Utd : 25/10/2014 22:00:00