Thetownend.com

...has been banned from serving as a company director for the next 7 and a half years. His company went under owing over £400K to the tax authorities.

I wonder if that means that Preston will sack him? 

Apparently he is just Chairman and not a director of Preston so in theory it shouldn't be a problem.

That said he has always seemed a bit of a shady character anyway, one step down from Ken Bates, and I hope he is never involved in football again.

Presumably he'll become a club advisor instead...

How the jiminy heck can the Chairman not be a director? If the FL fall for that they're even more of a joke than I thought they were

 The ruling is "barring him from acting as a company director, and from managing or in any way controlling a company".
So he cannot stay on as Chairman. If that is not managing a company, I do not know what is.

However as ghanimah says, they will probably just keep him on as a contractor.

He is certainly unfit to be the chairman of any club. I expect they will juggle his job title and his actual job will not change.

Apparently Preston are keeping hold of him as Chairman of football, surely though he will now fail the FL fit and proper person test so will finsally be banished to the wilderness ?

ha ha ha ha ha ha. Stop it you wag.

Fit an proper person test is a joke. see Diamandis (and others) for ways around it. I think they send them a form saying "Do you consider yourself a fit and proper person". Any other answer than "NO" is accepted.

Even the ex-Thai PM (Thaksin) passed the test. The guy has convictions for corruption and has been accused of crimes against humanity.

I like the way that he is claiming that the ban is voluntary.....

That's nearly as good as "Around this time, I was asked to stop running a company for a little while" (c M Diamandis)