Date:Friday June 12 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.
Date:Friday June 12 2009
Brighton v. Leicester - a Vital Preview (Wednesday December 4 2013)
Pearson - We Defeated Ourselves (Wednesday December 4 2013)
Stats: Sheff W v Leicester (Tuesday December 3 2013)
Vardy & Kasp Respond To Millwall Victory (Monday December 2 2013)
Vardy Is Growing Into Himself (Sunday December 1 2013)
It's Nice Looking Down (Sunday December 1 2013)
Stats: Leicester v Millwall (Saturday November 30 2013)
Nugent Hoping For New Year Contract Talks (Tuesday November 26 2013)
Leicester v. Millwall - a Vital preview (Monday November 25 2013)
Resilience Pleases Pearson (Saturday November 23 2013)
|Sheff Wed||2||-||1||Leicester City|
|1. Leicester City||18||12||2||4||+12||38|
|4. Derby County||18||9||4||5||+10||31|
|7. Leeds Utd||18||9||2||7||+6||29|
» Blackpool : 05/12/2013 14:44:00
|Cummings pleased with narrow win
» Reading : 05/12/2013 14:24:00
|Uwe Rosler Bookies Favourite For Latics Job
» Wigan : 05/12/2013 14:10:00
|What The Caretaker Boss Said - Leeds 2 Latics 0
» Wigan : 05/12/2013 13:40:00
|From Hero to Zero
» Barnsley : 05/12/2013 13:01:00
|DRFC Bolton v Doncaster head-to-head
» Doncaster : 05/12/2013 13:00:00
|Pride of new boss
» Middlesbrough : 05/12/2013 12:36:00