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
Chester Downs Rangers (Saturday August 16 2014)
Stats: Queens Park Rangers v Hull City (Saturday August 16 2014)
QPR v Hull - Match Preview (Friday August 15 2014)
One to Watch - Robbie Brady (Friday August 15 2014)
QPR Draw Burton Albion (Wednesday August 13 2014)
Hoddle Joins QPR (Tuesday August 12 2014)
Fans To March Demanding Fairer Prices (Tuesday August 12 2014)
Isla Arrives on Loan (Friday August 8 2014)
QPR Capture Midfielder Mutch (Tuesday August 5 2014)
Granero Joins Real Sociedad (Monday July 28 2014)
|3.||The Uncredibale Hulk||16|
|13. Crystal Palace||1||0||0||1||-1||0|
|14. Man Utd||1||0||0||1||-1||0|
|18. West Ham||1||0||0||1||-1||0|
|Funeral For Liam Later Today.
» Newcastle : 21/08/2014 00:15:00
|Ashley Continues To Sell The NUFC Soul
» Newcastle : 20/08/2014 22:56:00
|Dzeko Pens Four Year Contract
» Man City : 20/08/2014 21:19:00
|Malky Deal Falls Flat?
» Crystal Palace : 20/08/2014 21:04:00
|Bennett Makes Loan Move
» Aston Villa : 20/08/2014 20:43:00