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 Scotland coach enters his first Six Nations with at least one familiar face to look to for inspiration - Joe Schmidt. He chats to Tom Hamilton
Italy coach Jacques Brunel spoke to ESPN ahead of his final season as Italy coach and tells of his desire to experiment and evolve
"There's no bull with me, I just tell it straight." Tom Hamilton talks to Warren Gatland in an exclusive interview
With the retirement of Adam Jones, Welsh rugby says goodbye to a great player and one of its biggest personalities too, writes Tom Hamilton