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Wednesday, 14 April 2010

Another football club on the brink - Court Gives Southend 7 days

Another football club has been a given a stay of execution by the High Court in London today.

Southend United, who my club Leeds beat on Saturday, faced a winding- up order in the High Court on Wednesday over a debt of £400,000.

In March they were given 35 days to settle the debt, having already paid a tax bill of £2.1m last November. Today the court was told they are planning to transfer the money owed within the next few days.

After the season ends I expect to see more Company Voluntary Arrangements and liquidations of football clubs.

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