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.
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies
Smith & Williamson has been appointed administrators of charity 4Children