Newsletter

Get your daily update and weekly newsletter by signing up today!

News

Exclusive reports Aston Villa face winding-up order after failing to pay tax – Don’t laugh

12 months ago
Share

Aston Villa were already facing serious problems after losing at Wembley.

Aleksandar Mitrovic and his Fulham teammates ensuring serious financial issues for Villa after they were doomed to remain in the Championship.

The parachute payments are very much front loaded these days, with Villa receiving £41m in 2016/17, £34m in 2017/18, but only set to bank £15m in their final parachute season coming up.

It had already been announced that all six of the loan players they had this season would have to be sent back, with serious cost cutting needed just to satisfy FFP, never mind generating enough cash to pay the bills.

Meanwhile, there have been rumours of pretty much everybody wanting to do a runner, with Steve Bruce and Tony Xia at the head of the queue, no doubt followed by plenty of Aston Villa fans.

Not that there will be any sympathy from any Newcastle fans who experienced the embarrassing behaviour of the Villa fans in celebrating NUFC’s two relegations under Mike Ashley.

However, it has now emerged that things could be far more serious than even the scenario outlined above, with a Sky News exclusive that appears to point to just how everything was gambled on promotion at this second attempt.

Sky News have revealed that a tax payment was due last Friday and now it is understood HMRC have given them only a week’s extension, or they could be set to face a winding-up order.

To cap it all, Chief Executive Keith Wyness has now been suspended after failing to find new funding to help the club through this epic funding crisis.

Could be an interesting time ahead for Aston Villa fans…Sob On The Tyne?…Who is your next messiah…Stan Collymore or Prince William?

Father's Day Cards - shop.themag.co.uk

Sky News:

Some more clarity on Aston Villa FC situation: the club missed a tax payment last Friday, and has been given a period (which I understand to be a week) by HMRC to make the payment or face a winding-up order.

Aston Villa Football Club has suspended its chief executive just days after losing the match badged as the most lucrative in world football, as it faces the potential threat of a winding-up order over a multimillion pound tax bill.

Sky News has learnt that Villa, which last month lost the Championship play-off final against Fulham, has been given a brief extension by Her Majesty’s Revenue and Customs to make the payment.

One source said the bill was due to be paid last week, and that the grace period to make the payment could be as short as a week.

If HMRC did serve a winding-up order against Villa, it could threaten the existence of one of the founder members of the English Football League in 1888.

However, a source close to the club insisted on Tuesday that its board was “confident of making a substantial tax payment within days”.

On Tuesday, Villa suspended Keith Wyness, its chief executive since 2016, amid what sources described as efforts by him to find new funding to see the club through its current funding crisis.

Villa’s financial travails since missing out on promotion to the Premier League are well-documented, with John Terry, the former Chelsea and England central defender, leaving the club shortly after the defeat.

Tony Xia, a Chinese businessman, bought Villa from Randy Lerner in 2016 but is reported to have held talks with potential buyers in recent days.

In a statement issued in response to an enquiry from Sky News, a spokesman said:

“Aston Villa Football Club can confirm that Chief Executive, Keith Wyness, has been suspended by the club with immediate effect.

“Owner and Chairman, Dr Tony Xia will assume the role until further notice.

“There will be no further comment from the club at this time.”

There is no suggestion that Mr Wyness has been accused of any wrongdoing.

One source suggested that he had been suspended after informing Mr Xia that the club would have to file for administration if it could not meet its tax obligations.


Share

If you would like to feature on The Mag, submit your article to [email protected]

Have your say

© 2019 The Mag. All Rights Reserved. Design & Build by Mediaworks