Groundbreaking news coming out of the Stadium of Light as, after being assessed by Her Majesty's Revenue and Customs (HMRC) regarding their use of the employee benefit trust fund (EBT), have been taken to court over fines and debt surrounding this situation. Figures up to nine figures have rumored, and if this is true, the results could of be the end of Sunderland as we know them.
Sunderland's debt over the recent years has been very much public knowledge, but there was no indication of a possible tax fraud occurring within Sunderland A.F.C.. In a press conference a few days ago, Ellis Short claimed the E.B.T. was a valid form of tax avoidance, however in a secret recording, the American is heard to have said that the club could go out of business if the matter is taken to court. A representative from HMRC said the situation was like Rangers all over again, and that the recent moving within Sunderland have been "rats escaping a sinking ship".
Upon discussions with HMRC, Ellis Short refused to remit the pay-as-you-go tax to his employees. On 31st of June, Sunderland filed legal papers at the Court of Session giving notice of their intention to enter administration. The following day HMRC petitioned the court for authority to appoint their choice of administrator, but this was unsuccessful, and on the following day Sunderland officially entered administration on 1st of July 2016, after appointing Bristol-based financial advisers
Paradigm Norton as administrators.
It's now the 2nd of July, and no body quite knows what the future holds for Sunderland A.F.C.. It is likely now that the club will enter liquidation but the process is still on going, and anything could happen.
Can't remember if I've seen a story in here where someone starts as a big club like Sunderland in League 2, so this will be fascinating to follow, I hope it goes down like that anyway
Hmmmm, very interesting. Being so new to,the sport I kinda know what happened with Rangers but judging from your other responses it looks like you might not be doing what everyone else is thinking. Bringing Sunderland back up from league 2 would be hell of fun to watch.
I like the financial difficulty story line and it's really relevant to football today with all the big money around. What happens when it dries up? like in this story - interesting times ahead.
Can't remember if I've seen a story in here where someone starts as a big club like Sunderland in League 2, so this will be fascinating to follow, I hope it goes down like that anyway
Can't remember if I've seen a story in here where someone starts as a big club like Sunderland in League 2, so this will be fascinating to follow, I hope it goes down like that anyway
He never said league 2 did he
No, but I did, and everyone sort of went along with it
Can't remember if I've seen a story in here where someone starts as a big club like Sunderland in League 2, so this will be fascinating to follow, I hope it goes down like that anyway
He never said league 2 did he
No, but I did, and everyone sort of went along with it
Yeah I thought it could be something like that too.
Rated E For Everyone.
Comments
Could go with someone completely unknown, or could use someone like Ian Holloway.
I hear Peter Odemwingie is parked outside the ground hoping to get in
Expect the unexpected
Who knows hey?
England in the World Cup final against Italy, he struts out with a hot bovril and a bag of mccoys
Big Titus is back haha
Hopeful thinking
Maybe he's been bumping into Leon Osman and Tony Hibbert who have been hanging around the bins since Moyes came in
The financial turmoil and needing to sell lots of players?
Groundbreaking news coming out of the Stadium of Light as, after being assessed by Her Majesty's Revenue and Customs (HMRC) regarding their use of the employee benefit trust fund (EBT), have been taken to court over fines and debt surrounding this situation. Figures up to nine figures have rumored, and if this is true, the results could of be the end of Sunderland as we know them.
Sunderland's debt over the recent years has been very much public knowledge, but there was no indication of a possible tax fraud occurring within Sunderland A.F.C.. In a press conference a few days ago, Ellis Short claimed the E.B.T. was a valid form of tax avoidance, however in a secret recording, the American is heard to have said that the club could go out of business if the matter is taken to court. A representative from HMRC said the situation was like Rangers all over again, and that the recent moving within Sunderland have been "rats escaping a sinking ship".
Upon discussions with HMRC, Ellis Short refused to remit the pay-as-you-go tax to his employees. On 31st of June, Sunderland filed legal papers at the Court of Session giving notice of their intention to enter administration. The following day HMRC petitioned the court for authority to appoint their choice of administrator, but this was unsuccessful, and on the following day Sunderland officially entered administration on 1st of July 2016, after appointing Bristol-based financial advisers
Paradigm Norton as administrators.
It's now the 2nd of July, and no body quite knows what the future holds for Sunderland A.F.C.. It is likely now that the club will enter liquidation but the process is still on going, and anything could happen.
Could be interesting.
Possibly, possibly
No spoilers right... but no
HAHAHA No.
See ^^
Newcanderland hahahahahahaha
Thanks bud
Spanish league then? I'm sure Sunderland could find a way to avoid tax there
And find workarounds if they are given "transfer bans"
If that happened a black hole will appear and swallow up the whole of the north of England xD
He never said league 2 did he
No, but I did, and everyone sort of went along with it