As United's directors try to fend off a winding-up order due to be heard in the High Court on June 26, Collins has indicated he may yet return as manager whilst still applying for other positions. He said he would be having an interview for a position this week but remained hopeful that he could still play a part in United's future. The former Bohemians boss was dismissed as manager of United on April 6, after making disparaging remarks about the state of the takeover negotiations on Radio Cumbria. He has since resisted the temptation of taking other jobs but time is now running out for him if he wants to remain in English football in time for the start of next season. Meanwhile, the Inland Revenue's bombshell on Thursday, when it was revealed they had issued a winding up petition on May 15 for the non-payment of £416,000 of PAYE income tax, could set up a free-for-all as other creditors seek to add their names to the list. The club's total debts are estimated at £2m but could be much higher. The Customs & Excise are thought to be owed a substantial amount of VAT and the PFA, Shelbourne FC, a large group of players who are being released and several other creditors are owed large sums. The biggest creditor of all is believed to be the Bristol & West Investments plc, who have an outstanding bridging loan of £960,000, secured on land and buildings at Brunton Park and guaranteed by the Knighton family. It remains to be seen whether they will call it in in the wake of the Inland Revenue action. As things stand, United could arrange a re-payment schedule for the PAYE, in order to put off the winding up order. No league club has ever been forced into liquidation by an outstanding tax bill. However when other large creditors get involved, receievers have been called in before at other clubs. Last year Hull City managed to fight off three winding up orders from the taxman. They were later sold and spent heavily on new players last summer under new chairman Adam Pearson. John Courtenay and Brooks Mileson are the two contenders who have thrown their hats into the ring for a possible takeover if and when the liquidators move into Brunton Park. It is not yet clear whether they will be making separate bids or joining forces. Fans' trust CCUIST are closely monitoring the situation and are likely to hold talks with both interested parties. They have a projected share fund of at least £130,000 to introduce into the club once a new owner is installed. Picture from News & Star |
