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Ridsdale Banned

Ridsdale Banned

Former Plymouth Argyle Chairman of Football Operations Peter Ridsdale has been banned from being a company director.

Ridsdale has given a voluntary undertaking to the Secretary of State for Business, Innovation and Skills which bars him from acting as a company director or from managing a company for seven-and-a-half years.

The ban follows an investigation by the Insolvency Service into Ridsdale's liquidated company WH Sports Group Limited.
Ridsdale's wife Sophie was also a director in the company and has been disqualified from being a director for three-and-a-half years.

WH Sports went into liquidation in April 2009 with assets of £22,592 and liabilities of at least £478,698, with £442,353 of that sum owed to HM Revenue and Customs.
The Insolvency Service reported Ridsdale also failed to disclose transactions to the liquidator, failed to pay tax on time and failed to file the company's accounts by their due dates.

Following the announcement of his disqualification Ridsdale released a statement, he said: 'I can confirm that I have agreed a voluntary undertaking not to act as a company director as a result of ongoing issues with a personal matter which occurred in 2009.
'I am currently undertaking a role of 'Chairman of Football' at Preston North End, but am not a director, nor at any time have I sought to be one.
'The issues that have brought about this voluntary undertaking are currently in the hands of my lawyers, who are dealing with all outstanding issues, including the professional advice that was given to both myself and my personal company at the time.'

Ridsdale arrived at Home Park in November 2010, initially as an advisor to the Board of Directors before taking over the role of Chairman of Football Operations.
The former Leeds United chairman guided Argyle through the administration process and at one stage was set to buy the club for just £1 in a deal with Kevin Heaney and the mysterious Bishop International Limited consortium.

Ridsdale left Argyle in December 2011 after James Brent bought the club.
Argyle's new owner was quick to praise Ridsdale's contribution during the administration process, he said: 'I would personally like to thank Peter for his contribution to Argyle as there is little doubt that, without his presence here during the period of administration, it is highly likely that this football club would no longer exist.'

While at Argyle Ridsdale and his wife were directors of another consultancy company called Wrayton Sports Management Limited.
The company was formed in August 2010 and was dissolved in December 2011 following Ridsdale's departure from Home Park.

Ridsdale formed Plymouth Argyle Football Club (125) Limited in July 2011, this company was intended to own the football side of Home Park for £1 following the proposed takeover by Heaney and BIL.
This company is still active but Ridsdale has now had his directorship terminated.



Click here to join in the debate on the club forum.

Writer:Ian De-Lar
Date:Thursday October 4 2012
Time: 10:27AM

Comments

0
He's marmite. I'm glad he was on our side during administration, he was exactly the person we needed at that time but glad he left when Brent took over.
Greeno12
04/10/2012 11:19:00
0
He's marmite. I'm glad he was on our side during administration, he was exactly the person we needed at that time but glad he left when Brent took over.
Greeno12
04/10/2012 11:19:00
0
Glad he left us when he did.
MATTENG
04/10/2012 11:28:00
0
Glad he left us when he did.
MATTENG
04/10/2012 11:28:00
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