Ospreys breathe easy over tax bill
July 30, 2012
The Ospreys claimed the 2011-12 RaboDirect PRO12 title with victory over Leinster © PA Photos
The Ospreys have emerged from a potential financial crisis having reached agreement with HMRC over an outstanding tax bill.
The Welsh regional side was threatened with a winding up order by the UK Government a day after clinching the 2011-12 RaboDirect PRO12 title with an upset victory over Irish rivals Leinster in Dublin. Club officials moved quickly to calm fears and insisted the matter was being resolved and have today announced that the case has been dismissed at the High Court in London.
"We can confirm that on the request of HMRC, the petition against Ospreys Rugby Limited has been dismissed at the High Court of London today," an Ospreys spokesman said.
"As previously noted, both parties have been engaged in positive, ongoing discussions and we are delighted to have been able to resolve this situation ahead of today's hearing."
The Ospreys' latest published financial accounts show the region made a loss of £1.46m in the financial year ending May 31, 2011 but they are not the only Welsh side struggling in the current economic climate.
The Dragons were recently forced to allay fears over their debts as were the Scarlets while the Cardiff Blues made a loss of almost £2.3m for the last financial year.
© ESPN Sports Media Ltd.
"The loudest cheer at a rugby game, away from social media gimmicks, pumping music and pyrotechnics will always be for a try." Tom Hamilton on the Twickenham atmosphere
"The only thing that will stop this England team from becoming a great team is themselves. They need to ask themselves 'what can we be?'" The Phil Vickery column
The latest Monday Maul looks at the hectic final weekend, the Lions hangover, the superb Mike Brown and the 'selfie'
"At the crux of this England team is a lack of fear, they are not afraid to throw playbooks out of the window." Tom Hamilton reports from Twickenham