More Bust Than Jordan!

Today should be about celebrating Fife Flyers return to top flight hockey, however news has also been revealed today that Rink Corp, the operational owners of both Cardiff Devils and the Sheffield Steelers, have gone into voluntary liquidation. [BBC News Report]
What this means in the long term is unclear, however this report in today’s Sheffield Star alleges that Rink Corp owner and self-proclaimed saviour of British Hockey Paul Ragan offered to pay Steelers players from an off-shore bank account last season to avoid tax.
It seems a huge can of worms has been opened and this has been alluded to by Bob Phillips Hockileaks blog in recent days, perhaps he was telling the truth after all, but for him to come over all ‘holier than thou’ is more than a little ironic!
Cardiff fans who were enjoying something of a renaissance for their team last season are wondering what happens next. Steelers fans who thought that their problems were over are now facing yet another turbulent summer. What is it with Steelers and their owners? Do they have to meet a certain ‘dodginess’ criteria before being allowed to take over the club? (Doesn’t seem to ever affect their title chances though!)
Both sets of fans will have the chance to question Ragan in fan forums next week, I hope he brings honesty to the table because I can see a lot of very unhappy supporters being present at both events and they will want answers. (Oh to be a fly on the wall at those!)
The other factor to consider is that Ragan could set up a brand new management company to run the clubs while the creditors to the now defunct Rink Corp will probably get none of their monies owing paid back to them. This should not and cannot be allowed to continue although I am aware it is a commonly used business practice (See Ken Bates and Leeds United for a high profile example). The problem is with the state of the game at the moment there is no-one in the wings waiting to take over. Until there is it will continue. I wish I had the answers, but I don’t. Sadly, those in charge don’t appear to have them as well.

2 Responses to “More Bust Than Jordan!”

  1. 1 bigpantherpete June 23, 2011 at 9:22 pm

    That’ll be why they are called the Sheffield STEALERS

  2. 2 Fiona June 24, 2011 at 10:05 am

    This whole scenario casts a shadow over the Elite League and ice hockey in the UK. Much as I dislike the Steelers we cannot afford to be without them. The silence from the EIHL is quite deafening!

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