How football got its finances wrong

by AccountancyAge.com

18 Aug 2006

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From megalomaniac chairmen to the ITV digital collapse to the 'super creditor rule' – where did football go wrong? Either way, it’s getting it right now.

Here’s a rundown of the journey to this point.

Struggling football club seeks 'financial conscience'
Accounting pracititoner joins board of Rotherham United to act as financial conscience 

Accountant named chairman of Coventry stadium
Former Barclays FD appointed chairman of Coventry FC stadium 

Leeson: ‘Irish football clubs run like Barings’
Rogue trader warns of ‘financial shock’ in Eircom League 

Wrexham FC out of administration
Sale of football club brings it out of administration just in time for new season

World cup coach facing tax probe
Football coach and his accountant to face public prosecutor

Grant Thornton: Owen injury to cost FA £9m
World Cup hangover looms for Football Association

Employee management: red card
As the world cup finals approach the excitement is palpable, but the festivities will cause a different set of headaches for business leaders 

Footballers' wage dip just a blip
Premier League wages have fallen by 3% during the 2004/05 season, after a decade of 20% annual wage increases

Deloitte finds football wages on the slide
First drop in wages in premiership history

Revenue clampdown threatens part-time football clubs
HMRC to launch income tax clampdown

Lineker's brother faces jail for tax fraud
The brother of England footballer Gary Lineker faces jail for alleged £220,000 t ax fraud

Turbulent times
Prospects: John Cresswell joins ITV post takeover rejection

Grant Thornton backs Cardiff City stadium
Club hopes to build 30,000-seater

Profile: Manchester City CEO Alistair Mackintosh
A £60m debt may loom large, but Manchester City Football Club CEO Alistair Mackintosh has it all under control. Here, he talks about boosting the P&L with the sale of a £24m player and how the club's new stadium could prove it's finest transfer

Wembley chief exec to be booted out
Wembley chief exec could be on his way out after failure to meet competition deadline

How can British football clubs stay financially on top?
Manchester United are still the read deal in the financial stakes, argues Nick Humby. Miles Dean blames our tax regime for holding back British clubs

World Cup auditing reaches fever pitch
On the frontline: E&Y has its work cut out auditing the tickets for the World Cup

HMRC seizes former football star's pay cheque
Mo Johnston's BBC pay cheque seized by HMRC

UK misses out on top footballers - and tax
Harsh rules deter talented foreign players and see Brown miss out on almost £20m of tax, consultancy says

Man Utd spin-off club appoints auditor
Anti-Glazier fans choose Beever & Struthers to review accounts

Rising debt levels trouble 80% of football clubs
Survey finds that 80% of Football League clubs are concerned by levels of debt

Experts boot out football reforms
Football finance experts dismiss calls for accounting reforms over footballers

Man Utd finance staff face redundancy
Club's finance team hit by round of cuts

Football clubs rein in finances
Clubs avoid the 'drop', but latest survey warns of risks ahead

Football special report 2005
With the football season under way, we look at the finances, issues and figureheads behind the beautiful game in 2005

Tax goes football crazy at 2006 World Cup
VAT hitch for companies investing in Germany 2006

Leeds United clears its debts
Leeds United back on track, as the last of its debts are cleared

Summer slaughter games to replace football fever
The week in review by Taking Stock

Cambridge Utd FC go into administration
Cambridge United football club falls foul of administration one week after being relegated to the non-league Conference

Leeds United: an unlikely comeback
On the frontline: Leeds United's new FD is renewing her links with Ken Bates

Football clubs under increased ethics pressure
Higher levels of business ethics are expected of UK football clubs than other businesses, according to new research

Another accountant to run English football? No thanks
We asked FDs: Does the FA need another accountant to lead it, as opposed to a more strategically minded candidate?

Premiership is 'the financial champion' of European football
The English Premiership stretched its lead as financial champions of Europe in the 2002-2003 season, according to a new survey

Football finance survey - They think it's all
Clubs are slowly escaping the quagmire created by the collapse of ITV Digital and the inflated wage demands of top players, according to the 33 FDs from clubs across England and Scotland who have responded to the third annual PKF/Accountancy Age football finance survey

Football finance survey: The Foreign Legion
For many foreign footballers these days, tax skills are as important as ball skills. Richard Rhodes explains why a player might look to move back abroad after just a few seasons

Football FDs back player wage caps
Football's finance directors have given tentative support to player wage caps, after identifying footballers' salaries as the biggest threat to the financial viability of the sport

Football set for another season in red
Most football clubs in England and Scotland will make a loss over the next 12 months, according to their finance directors, despite frantic efforts to rein in spending ahead of the start of the season next month

Special Report: Football finances 2004
The Accountancy Age's 2004 football finances survey, which reveals that most football clubs in England and Scotland expect to make a loss over the next year, showing a greater appreciation of the financial situation

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