Sheffield Wednesday served with winding up order
July 23, 2010
English Football League One side Sheffield Wednesday has been served a winding up order by Her Majesty’s Revenue and Customs (HMRC) over an unpaid tax bill.
The action by HMRC is over an outstanding balance which amounts to £550,000 (US$848,000).
The Yorkshire club has reassured fans that the bill will be paid, and that the club will not face being wound up, or enter administration.
A club spokesman said: “We have been involved in dialogue with HMRC for a number of weeks. As such, we are disappointed by their decision.
“Sheffield Wednesday would like to inform supporters their club is not about to be wound up. We understand that HMRC is taking a tougher line in general with football clubs, but feel their actions are disproportionate and will raise unnecessary speculation as to the financial situation of the club.
“We can inform supporters that the club, working in partnership with the Co-operative bank and their advisers, will seek to settle this matter as soon as practical.”
The Co-operative bank has also issued a statement saying: “It is disappointing to note that HMRC has presented a winding up order in respect to Sheffield Wednesday Football Club.
“The Co-operative bank has been working extremely hard for some time with representatives of the football club and investors to explore ways to ensure its future stability.
“At present we are continuing to enter into dialogue with our advisers, Sheffield Wednesday Football Club and potential investors to explore solutions which will allow the club to operate on a sound and secure financial footing for the future.”
The side was relegated from the Championship last season, and is the latest club to in England’s top four divisions to face financial difficulties.