Ministers Football Index probe ‘likely’

Business News

U.K. government ministers are set to investigate the circumstances behind the collapse of betting company Football Index, the Sunday Times reported.

The independent investigation comes after football punters lost almost 100 million pounds when the company was put under administration, the paper said.

Football Index, which mimicked itself as an investment platform for football, closed its self-styled “Football stock market” this month after running into financial difficulties. 

Adrian Hyde, partner at Begbies Traynor said: “This appointment will mean progress can be made for the player community and the business as until now the BetIndex Ltd board has been unable to move forward after its initial application to the court in Jersey.