Statutory demands are curious documents which have caused some degree of controversy in recent months in the world of debt recovery. They are served under the Insolvency Act of 1986 and are the first step in the process of petitioning somebody's bankruptcy or issuing a winding up order against a company.

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The vast majority of Liverpool fans are still right behind Rafa Benitez and rightly so.
There is enough instability at the club with the owners and the debts, and the last thing we need is to be looking for a new manager.
One win in nine games isn't great but you don't turn into a bad manager overnight. Click to continue reading...

Weymouth Football Club, one of the ongoing financial basket-cases of the last three years in non-league football, might have finally reached the end of the line. Reports on the BBC this morning confirmed that, with talks with new buyers having collapsed, the club's administrators are planning to wind the club up this morning.

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So, a two hour press conference was held by Thanopoulos today. Reporters said it was very sincere, "straight from the heart" kind of stuff. Clearly not saying what he is being told to say but rather what is true.

So, progress should be made soon with regards to Kozonis. A paper should be signed this weekend stating both sides are intending to go through with the deal (or something along those lines) and if all goes well (no arguments or hidden debts suddenly showing up) the transition will occur December 31st.

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Scaremongering about the extent of Liverpool FC's debt under Hicks and Gillett is rife these days, with fans groups and the media alike painting a picture of irreversible gloom and impending financial meltdown. What is the truth of the situation? Do H+G deserve such villification? TAF MCDONALD analyses the reality of Liverpool FC's debt level, and comes up with some surprising results. Click to continue reading...

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- In addition to this site, try the combination messageboard and quasi-blog QPR Report Messageboard. If your're interested in constantly-updated QPR-related news; QPR nostalgia; and some other broader football-related isssues: QPR Report Messageboard is there for you. All opinions welcome! Click to continue reading...

When we beat the Mancs last week, everyone including his pet rock was jumping with joy I am certain. Everyone except those in the clueless bandwagon. Then, afterwe lost to Fulham, the dam burst further!

How do some fans miss the obvious I do not know. We have been overachieving with Rafa at the helm and yet these people scream murder and want Rafa to be sacked.

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Southend United will today (Wed) learn whether they will enter administration and be deducted 10-points from their League One tally.
Yesterday (3rd), at around 8pm, a bid to take over the club by a consortium of local businesses was turned down by the board of SUFC. The un-named 10-strong party had wanted to buy the club for a nominal fee, rid it of its debts and - according to its spokesman - push the business forward. Click to continue reading...

I did not think that any team could outdo Newcastle for their off-field antics, but Portsmouth is determined to outdo even Mike Ashley. Portsmouth's season has descended yet further into chaos with news that the Premier League have hit them with a transfer ban.

The Premier League confirmed reports by the DailyMail that they had taken the drastic action because of Portsmouth's debts to other English clubs that remain outstanding.

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Mike Ashley, yesterday, looking as Obese and Odious as ever.

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Newcastle owner Mike Ashley is understood to have reduced his asking price for the club by a further £20million to £80million.

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Liverpool have been warned that prospective new major investor Prince Faisal bin Fahad bin Abdulla would be unwilling to buy into the club if its debts are high.
Barry Didato, director of strategic investments for the Saudi prince's investment vehicle F6, has indicated that Prince Faisal may consider buying out the shareholdings of co-owners George Gillett and Tom Hicks in full. Click to continue reading...

It is a sign of the decline of Italian football in recent years that a trip to Florence at the end of September wasn't at least, not before kick-off a cause of major concern for Liverpool. Ten or fifteen years ago things might have been different, but the Premier League is wallowing and basking in its opulence at the moment while Italian football is scratching its head and wondering where things went wrong.

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Yesterday the stories about Liverpool flowed around like a dark murky flowing thing you would not want to put your hand in. We knew that the owners were trying in utter desperation to do something, anything, that would allow them to refinance the £350.5m of debts six months ago. We now know from leaked papers obtained by [. Click to continue reading...

HMRC finally managed to swing the axe successfully against a football club today, and Hyde United were the victims. It's ironic, really. Hyde, as have so many small clubs for as long as any of us can remember, have been occasionally poorly run over the last few years, but they were by no means the worst offenders in the game.

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Check out the lead to this story I saw the other day:

World Cup winner Romario is to run for election to the national parliament as he fights off debts and fraud charges.

Is that not the most hilarious thing you've ever read?
I guess in Brazil a soccer legend can probably overcome such obvious red flags (debt? Click to continue reading...

The Real Madrid CF soccer club has revealed their financial records showing record breaking debts. The Spanish club showed that they are at least €327 million in debt ($443 million US) after going on a spending spree with new star players like Cristiano Ronaldo, Kaka, Karim Benzema and Raul Albiol.

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I know that that is a very bold statement but here's why I think Kaka is still the best. First of, all as a Milan fan, I felt bad that we had to sell our star player just because the club was experiencing serious debts. In my opinion, that should have never been a reason.

I think Mr.

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Sports minister Gerry Sutcliffe has welcomed the Premier League's new rules on home-grown players and club finances as being good for the long-term health of football.
The 20 clubs have agreed to name 25-man squads with at least eight players 'home-grown' - trained for three years under the age of 21 in England or Wales. Click to continue reading...

A long press conference was held a few days ago by team president Thanopoulos. The president spoke for a couple of hours on a number of issues. Some of the highlights were:

-Firstly, he confirmed that things around the team are now calm. We have achieved our goals in terms of transfers and reaching the Europa League Group Stages

-The team is now on much more solid ground, financially.

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Bad news on the building off the new stadium at Stanley Park with new M.D. Christian Purslow saying this afternoon ''Construction on the new stadium will begin when the current contraction in the banking industry ends''.In other words when Hicks and Gillette can find a bank daft enough to lend them £450 million to build a stadium which, without significant personal investment by the owners, will only saddle Liverpool FC with huge debts which could cripple the club and end up meaning we have to sell Torres and co. Click to continue reading...

Equifax does reports on the financial health of EPL clubs you may have seen they did a new one this month. What they do is take a look at the accounts, what the auditor says about dodgy dealings and dubious debts, contemplate their ability to repay debts, look at working capital, and also [...] Click to continue reading...

The following article is something that I read last week at http://www.mirrorfootball.co.uk/opinion/columnists/david-maddock/Liverpool-should-beware-of-calling-Rafael-Benitez-s-bluff-over-transfer-policy-article109173.html.

Now, of course most fans around the world wouldn't want Rafa to ditch us.

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Sorry to talk about Manchester City and Real Madrid again but their super-spending has only highlighted the polarisation between those swimming in cash and those with barely a penny to their name.
While City parade their latest superstar and flaunt their money spare a thought for Livingston fans. Click to continue reading...

Liverpool are putting their shirts on Fernando Torres to help ease their debts.
The Reds' American owners, Tom Hicks and George Gillett Jnr., rubber-stamped a £290million refinace package this week and cashing in on the success of Torres is a crucial part of their marketing policy.
Anfield commercial director Ian Ayre said: "All the players are important but it is evident certain ones are crucial. Click to continue reading...

Liverpool will not be signing Valencia winger David Silva this summer, despite reputed interest from Manchester United, that is the view of Spanish based journalist Guillem Balague.
Reports in this morning's Daily Mail suggests Manchester United and Liverpool are ready to go head-to-head for the Spanish international, with the former expected to make a bid for the player later this week, however esteemed Spanish journalist Guillem Balague believes this is not the case. Click to continue reading...

Another excellent piece of journalism by perhaps the best blogger out there at present as Arseblog delves deeper into the boardroom kerfuffle at the Emirates.

It looks like the gloves are coming off and the relationships between our biggest shareholders are going to be increasingly tested over the next little while.

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Morning all,

it looks like the gloves are coming off and the relationships between our biggest shareholders are going to be increasingly tested over the next little while.

You'll have seen some news reports quoting Alisher Usmanov's partner in Red and White, Farhad Moshiri, after he was interviewed on Sportsweek on BBC 5 Live yesterday.

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Atletico Madrid have reportedly listed their leading goalscorer this season, Diego Forlan, in the transfer market.

According to Sport, Atletico Madrid is growing more and more concerned with their debts and are anxious to relieve any financial difficulties before it escalates into a full-blown crisis.

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It has hardly been a summer to cheer many Manchester United fans, but this may have been a break to gladden the hearts of the Glazers. The Premier League champions' absentee owners require a vast income to service their debts after borrowing heavily to buy the club. The transfer window has, so far, revealed one guaranteed revenue stream. Click to continue reading...

Michel Platini again went on the record to air his disbelief at Real's profligate spending after the club signed Karim Benzema.

Then Arsenal's CEO, Ivan Gazidis channeling his MLS experience talked up the advantages of introducing the salary cap.

He referred admiringly to Germany's Bundesliga - "the only profitable league," he said- which has tight restrictions on the debts clubs can carry, and insists they live within their means.

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After missing out on Karim Benzema, Manchester United are now targetting Newcastle striker Michael Owen. Owen is available on a free transfer, freeing up some of the Cristiano Ronaldo funds for another player or - to Malcolm Glazer's delight - to manage United's debts.

United's options are beginning to run thin, and Sir Alex Ferguson believes that he could utilize Owen perfectly as a third striker.

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Benzema Move Has Europe Wide Effect
The I's have to be dotted and the T's have to be crossed but appears that Madrid have struck yet another major blow in the transfer market by acquiring Karim Benzema from Olympique Lyonnais for the princly sum of 35 million Euro's.
There is a lot of reaction to Madrid unbridled spending this summer, and outside of Madrid its not really all that positive. Click to continue reading...

The fates of Cristiano Ronaldo and Kaka may have been decided in the space of a week but with over 2 months still to go to this summer, there's plenty of time for more 'superstar' signings to take place.

Here's a list of the top 5 transfer targets (left standing) this summer - will they move clubs, stay loyal or sold to pay off debts?

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With Setanta now collapsing, this close season is getting more and more difficult for Premier League clubs. Some of these problems, however, have been due to own ill-thought out decisions, meaning that the cost of relegation has become almost unbearable. Rob Freeman has been looking at Newcastle United's relegation from the top flight and concludes that the sums just don't add up.

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One of the amazing things about football is its ability to drag your emotions from one extreme to another in a second and despite any number of let downs by their side, the hopes and dreams of a supporter will always remain strong and they will keep coming back for more.
Those hopes and dreams have been dashed and resurrected this week at two clubs whose fortunes have been poles apart over the past few decades, but could yet find themselves on a level playing field in the coming years. Click to continue reading...