DCMS chief provides Football Index investigation update

Oliver Dowden, secretary of state for Digital, Culture, Media and Sport (DCMS), has moved to reassure disgruntled Football Index users of his efforts to find a solution to their missing funds. In a Q&A session posted on the MP’s LinkedIn page, Dowden laid out what his department had sanctioned so far and offered reassurances that the matter would be dealt with. Football Index collapsed and fell into administration earlier this year, with DCMS subsequently implementing a review into the business. Earlier this week, customers were finally given the go-ahead to withdraw cash balances from their digital wallets by the administrators. However, funds tied up in footballer share portfolios remain lost to the company at present, leaving customers out of pocket. Dowden said: “Well, as you might imagine, [Football Index] has taken up a lot of my time and Minister [John] Whittingdale’s time. I know how very difficult this has been for everyone that’s been affected by it. “Some of the stories I’ve heard of people losing their homes, their cars, in real financial difficulty. I know what a major problem this has been,” he added. Dowden told customers to keep an eye on the review to be led by barrister Malcolm Sheehan QC, which will also explore the Gambling Commission’s role in the debacle. Dowden said: “That is why I commissioned this independent review led by a top QC, to find out exactly what went wrong with it so that is ongoing at the moment. “The other thing we’ve done is looking at the Gambling Commission’s regulation of this. That’s why we’ve had a call for evidence into the future of gambling, which will look into the role of the Gambling Commission.” Finally, the former Paymaster General concluded with a message of commitment to those affected by the Football Index fallout. “I want to reassure you that I take this very seriously and I know that ministers in my department do as well,” he stated.