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Date: 16 December 2018

  World - Soccer


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Plymouth wins court battle, remains in financial dire straights

[Posted 10 Feb 2011]
[By Brighton Mupangavanhu]
Plymouth wins court battle but remains in financial dire straights

English League One football team Plymouth Argyle, who have been going through a rough patch in terms of finances, have once again survived a winding-up petition following the dismissal of the HM Revenue and Customs case by Britain's High Court.

The subject matter of the petition, was the outstanding 760,000 tax bill, which Plymouth have since paid off, which saw the basis of the court challenge falling off.

The club is due to pay their next tax bill on 22 February.

Despite having paid the tax bill, and efforts to stay up to date with payments, Plymouth are far from being out of the woods yet.

The club has not paid its playing staff since January, and the pressure remains, football consultant to the Plymouth board Peter Ridsdale revealed.

"It was good news in the sense that we've paid the petition debt and are up to date with the revenue, but that's just the first hurdle we've got over.

"Today isn't a day of celebration, today is just a sober reminder of the fact that we've still got a lot of people to pay money to," Ridsdale told local media  yesterday.

The legal challenges for Plymouth started last year when the club appeared before the High Court judge on 8 December, and the club was given a February 9, 2011 deadline to have made considerable efforts to settle their debt with HMRC.

The sale of of four players during the January transfer window enabled the Home Park side to clear pay off the initial tax bill. Their attempts to sale probably their best player Zimbabwean Onismor Bhasera to Blackpool hit the snag when Blackpool and Bhasera failed to agree to some personal terms.

According to Ridsdale, the club still needs about two million pounds to meet the operational costs of this current 2010/2011 season.

The financial troubles faced by the club have resulted in low morale in camp, which has seen the club plunge to 18th position on the log.

It remains a challenge for the technical team to motivate 'hungry' players. Unless the club finds a solution to its financial woes, they risk dropping to League Two next season.

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