Date:Sunday June 14 2009
At their 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.
"We thought it was an idea that deserved further discussions, so we agreed to take it on.
As a club with a lot of up-and-coming young players, this new rule might give some of them the chance to gain some first-team experience."
A Derby spokesman told the Evening Telegraph when commenting on the increasing of substitutes from five to seven.
Get active! Have your say on this articles content below!
Date:Sunday June 14 2009
Butterfield Sends Rams Top (Friday November 27 2015)
Stats: Hull City v Derby County (Friday November 27 2015)
Hull City v Derby - Teamsheets! (Friday November 27 2015)
Vital Derby On Facebook (Friday November 27 2015)
Vital MotM v. Cardiff - George Thorne (Friday November 27 2015)
One In, One Out On Loan Front (Friday November 27 2015)
Match Day Officials v Hull City (Thursday November 26 2015)
Derby Are Done - Clement (Wednesday November 25 2015)
Rams In For Left Back? (Tuesday November 24 2015)
Vital MotM v. Nottm Forest - Stephen Warnock (Tuesday November 24 2015)
|Hull City||0||-||2||Derby County|
|1. Derby County||18||10||6||2||+15||36|
|2. Hull City||18||10||5||3||+16||35|
|Butterfield Sends Rams Top
» Derby County : 27/11/2015 23:01:01
» Derby County : 27/11/2015 22:57:00
|RUFC - Lenighan Will Give 'One Hundred Per Cent'
» Rotherham : 27/11/2015 22:24:00
|RUFC - Warren Out On Loan
» Rotherham : 27/11/2015 21:58:01
» Hull City : 27/11/2015 21:32:01