PDA

View Full Version : Government Minister helps football team


Delta492
28-06-2005, 04:40 PM
I know it's a shocker but, Richard Caborn (Sports Minister) has really helped Cambridge United out of a tight spot.

In brief, the U's are in Administration with the taxman as their biggest debtor. Football league rules state that, debts to other football clubs should be paid in full where possible, which would have meant that the Inland Revenue would have received LESS money that the football creditors, even though they are owed the most. This had led to a standoff with both the revenue and the FA/Football League refusing to back down and Cambridge United stuck in the middle. Without an agreement, liquidation was a virtual certainty.

Caborn has come to our rescue, by arranging a meeting with the relevant parties and by brokering a deal which, allows the U's plans for exiting administration, to progress. Top man! :p

http://www.cambridge-united.premiumtv.co.uk/page/News/BreakingNewsDetail/0,,10423~678290,00.html

Lambeth Palace
29-06-2005, 10:13 AM
Good to hear that a government minister has done something useful for a change! All the best in sorting yourselves out

norwood_girl
04-07-2005, 07:10 PM
Good work Delta, good for you guys lobbying to get the government involved.

It would have been a disaster for CU to have been the first casualty of the FA's new rules. Can't help but think that the Posh supporting Nigels in the Peterborough tax office weren't being exactly helpful though ;)