MP seeks football finance transparency

MP Penny Mordaunt
MP Penny Mordaunt
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PORTSMOUTH North MP Penny Mordaunt has helped put together a private bill aimed at bringing more transparency to football finance.

The Football (Financial Transparency) Bill seeks to introduce a requirement for English and Scottish clubs to disclose the identity of its owner, the owner of its playing ground, training ground and any property associated with the club.

It aims to make all creditors to football clubs compensated equally should it fall into administration.

There is no date for when the bill could be heard in Parliament, but Ms Mordaunt hopes it will be within the next month.

She said: ‘Because of what’s happened to Pompey I have been involved with the work going on in parliament.

There are issues that need reform – like the football creditors rule, which has caused grief for the club and is one of the problems that has contributed to why it’s difficult for community buyouts and keeping clubs viable.

‘We shouldn’t be putting our small businesses in this situation while wealthy individuals and players trump them as creditors. It doesn’t happen in any other walk of life.’