English football clubs continue to spend beyond their means, according to a survey of those working within the industry, with two-thirds predicting a premiership club will go into administration over the next two seasons.
Link: Survey: Football finances
Nearly all the 100 football club CEOs, agents, lenders and industry body representatives surveyed by Grant Thornton and law firm Clarke Willmott Sport said they expected another football league side to go into administration over the same time period.
The reason for this, according to those surveyed, is that football clubs continue to overspend and live beyond their means.
The future for football clubs looks decidedly uncertain with opinion split on whether the financial position of clubs is improving or getting worse – 49% believe the situation is mildly or positively better, but 51% said the situation is either the same, worse or much worse.
Joe McLean, partner with Grant Thornton’s recovery and reorganisation practice said: ‘Whilst a glimmer of improvements is visible within the football industry, the underlining fact is that football clubs are still not living within their means.
‘The evidence is that little change has been felt at the top of the game where the leading players still command huge wages but that amongst the perhaps less “coveted” footballers wage expectations have softened.’
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