According to today’s Accountancy Age/PKF survey of top clubs, 52% of football FDs believe players wield too much power in the current regulatory environment and say they should lose ‘super creditor’ status. The rule has recently sparked problems, as football players’ wages rose while advertising revenues and gate receipts fell.
The rule has meant that, without players’ consent, ailing clubs cannot sell expensive players when they can no longer afford them if they want to remain a part of the football leagues.
High player wages have often been blamed for the current football crisis, but industry experts say the market is responsible for setting them.
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
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