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Friday, May 29, 2009

Accrington Get Taxman Court Date

The taxman has issued winding up proceedings against Accrington over £300,000 in unpaid tax.

The club face the court on June 10th for a similar amount to that owed by Bournemouth, who face court a month later. Stanley are blaming the debt on losing a third of their average gate since entering the Football League three seasons ago, the collapse of sponsors Fraser Eagle, and the cost of meeting FL rules on the amount of seats in their ground.

They estimate the loss of the sponsor and the cost of the additional seating to be £160,000, while a club statement says average gates have dropped from 2,260 to 1,415 - a loss in revenue of around £200,000 over the course of a season.

If they fail to raise the necessary money by the June 10th deadline they can ask the court for an adjournment if they can prove they have made sufficient progress. The likely course of action, barring the sale of star assets of which they have few, would be to enter Administration before the date - a course of action that would almost certainly see them docked 10 points for next season.

Update: An Accrington statement says total debts are under £400,000 - meaning that the taxman, as majority creditor, would veto any potential CVA as is their usual intention should the club go into Administration.

In other news Bournemouth have paid their players after Southampton paid them a chunk of money due over the transfer of youngster Matt Paterson after he made his tenth appearance for the Saints. The players had put in 14 days notice on the club after finding their wages short but, with the Saints paying their own wage bill after agreeing an exclusivity contract with a potential buyer, the immediate threat of a player walk-out appears to be averted.

Meanwhile rumoured Bulls target Craig Hinton has joined Northampton on a one year contract.