BusinessBusiness RecoveryPremiership club to collapse soon

Premiership club to collapse soon

Nearly a third of football experts say they expect a premier league club to fall into administration in the next 12 months.

Link: Oldham FC breaches Revenue deadline

This prediction was part of bleak outlook painted by football club directors, football agents, lenders and industry body representatives, following a survey by Grant Thornton and law firm Clark Willmott.

Overall, 70% of those polled said the situation had worsened since a year ago, while 90% predicted worse to come in the next 12 months.

And more than two-thirds (70%) said the majority of released players would fail to secure a new contract with another club.

Joe McLean, partner within Grant Thornton’s recovery and reorganisation practice, said football was in a ‘deep crisis which is worsening rather than improving’.

‘A number of football clubs have been and are still in administration, debts are increasing and very few clubs can be said to be living within their means, an attitude, which, for many, could spell financial disaster.’

To date Oldham, Wimbledon, York City, Huddersfield, Port Vale and Ipswich Town have all slid into administration, while Leicester City, who has just won promotion back to the premier league, only recently emerged from administration.

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