The Dom Post report:
Terry Serepisos is facing fresh legal action, with the Inland Revenue Department seeking to liquidate five of his companies – including the one which owns the Wellington Phoenix – over $3.58 million in unpaid taxes.
The largest sum – more than $1.5m – is owed by Century City Football, owner of the Phoenix football team, for PAYE tax deductions, GST and KiwiSaver contributions.
I hope Serepisos survives, but if he does I suspect he will not be hosting The Apprentice again anytime soon.
In July I was in Hong Kong and surprised to see very large ads in the local paper there for his new apartment block. My reaction was that sales back home can’t be going too well, if you are needing to advertise in Hong Kong.
A Wellington City Council spokesman, Richard MacLean, said the council was “very concerned” over the future of the Phoenix but was unlikely to contribute ratepayers’ money. “We are not in the business of owning a football club.”
I’d love the team to survive also, but it is not the role of council to fund sports teams – sports infrastructure is another matter though.