sport news IN THE MONEY: Prospective buyers of Manchester United will have HMRC to answer ... trends now
Manchester United's new owners potentially face a battle with HMRC as soon as they take the reins of the club, should the Glazers end up parting ways with their asset.
Issues that have rumbled on for some years between the club and the country's tax authority are not nearer being resolved, with it likely no owner will want the issue to rumble on.
It has been revealed, meanwhile, that Brighton spent £3m on the services of a data firm that helps owner Tony Bloom rake in millions gambling professionally.
Manchester United's prospective owners potentially face a battle with HMRC when they arrive
Tax issues rumble on for Manchester United
Prospective buyers of Manchester United, including advisors to Sheikh Jassim of Qatar, and Sir Jim Ratcliffe, will have been told the extent to which United may still be on the hook to HMRC for unpaid tax.
United face a multi-million payout to HMRC and have been locked in discussions for several years over issues including image rights payments, player tax and agent money. The tab won’t dissuade bidders apparently prepared to spend £5billion plus to buy the club. It’s probably only going to be a few million. But no new owner will want the issue to drag on.
HMRC are also investigating whether David Gold’s shares in West Ham are liable for inheritance tax.
The late Gold held a 25.1 per cent stake in the Hammers worth £175m. Based on an inheritance tax rate of 40 per cent, that could mean a £70m bill. Around 18 per cent of Gold’s shares were held in his name with the remainder placed in a family trust.
Sir Jim Ratcliffe is one of the major names looking to purchase the club off the Glazers
Brighton spend £3m on data firm linked to board
It appears that Brighton’s faith in data is every bit as strong as that of club owner and professional gambler Tony Bloom, with the Seagulls spending £3million last season on fees to the same firm that helps Bloom win millions in football bets each year.
The £3m figure was revealed in the club’s latest accounts and while Brighton won’t specify what exactly they received from StarLizard, the latter’s company website lists three main ‘products’: data, sporting predictions and bet execution.
Bloom is nicknamed The Lizard because of his cold-blooded brilliance in high-stakes professional poker tournaments and football betting. He does not own StarLizard but is