Preston chairman Peter Ridsdale has been disqualified from acting as a company director for seven and a half years, the Insolvency Service has said yesterday.
Risdale's sports consultancy collapsed in 2009 owing £442,353 in tax and it was alleged that payments totalling £347,000, for services provided by the business to a football club where he was chairman, were paid into his personal bank account between May 2007 and March 2009 instead of to the company's account.
Mr Ridsdale said the disqualification, for which he has given an undertaking, was "a result of ongoing issues with a personal matter which occurred in 2009".
The ban prevents Mr Ridsdale from acting as a director, but also from taking part - directly or indirectly - in the promotion, formation or management of a company.
A spokesman for Preston North End said: "We are aware of it [the finding] but cannot say anything at the moment."
Mr Ridsdale has previously been chairman of Leeds United, Barnsley and Cardiff City football clubs.