Kieran Maguire makes 'don't have the money claim' after update on'billionaire-owned' Arsenal £10m Bielik debacle
Arsenal effectively had no choice but to defer an overdue transfer payment from Derby County.
So says finance guru Kieran Maguire, speaking exclusively to Football Insider about developments surrounding ex-Gunner Krystian Bielik.
The Telegraph reported on 1 October that Arsenal have pushed back a £1.4m payment block from the Rams until next year.
Bielik signed for Derby in a club-record £10m deal in August 2019 and Arsenal agreed a staggered payment programme.
But Derby, who are in the midst of administration, have so far paid back just £2m in total.
However, Maguire claims that Arsenal were backed into a corner and forced to defer the £1.4m.
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“I think Arsenal are being pragmatic here,” he told Football Insider correspondent Adam Williams.
“The administrators don’t have the money and you can’t enforce a pre-administration debt during a period of administration.
“So they effectively had no choice. What they have done is fine, but they could only have got bad publicity if they’d tried to enforce the payment.
“A football club owned by a US billionaire picking on a club in dire straits, that is not good look.
“There is, of course, an element of self-interest in all of football. HMRC are not happy with the football creditors rule.
“They ask why football clubs should get 100 per cent payment when they historically have been unsecured?
“There has been a change in legislation, but my understanding is that HMRC would like to take it further so the tax man has preferential status and football clubs are relegated to unsecured status.
“If Arsenal had tried to enforce the payment, that could have opened a can of worms in terms of giving HMRC a route to address this issue.”