BusinessBusiness RecoveryFootball League to get £35m lifeline

Football League to get £35m lifeline

The Football Association and Premier League look set to give a £35m cash injection to the troubled Nationwide Football League who has been in dire straits since the collapse of ITV Digital last spring.

Link: Fever pitch: Focus on football finances

The FA and Premiership agreed in principle to the cash injection of between £30m and £35m yesterday, although the details of the agreement are still being hammered out, according to a report in the Financial Times.

If the agreement goes through, most of the League’s 72 clubs would receive a much-needed boost, enabling the country’s smaller clubs to put their finances in order.

The deal is thought to be tied up with reforms aimed at keeping the clubs out of future difficulties. The reforms could include wage capping and an agreement to tailor future pay contracts to the division in which the players are operating.

The news comes after a difficult summer for the League after almost half of its clubs went into administration and its and chairman and chief executive were made redundant.

Related Articles

Carillion CFO blew whistle over 'sloppy accounting' months before collapse

Business Recovery Carillion CFO blew whistle over 'sloppy accounting' months before collapse

3m Alia Shoaib, Reporter
Toys R Us UK and Maplin enter into administration after failing to secure buyers

Business Recovery Toys R Us UK and Maplin enter into administration after failing to secure buyers

3m Alia Shoaib, Reporter
How to avoid a Carillion collapse

Business Recovery How to avoid a Carillion collapse

4m Russell-Cooke
Carillion collapse: The week so far and industry reaction

Business Recovery Carillion collapse: The week so far and industry reaction

4m Emma Smith, Managing Editor
Kingston Smith & Partners appointed trustees in bankruptcy of ex-Newcastle United footballer

Business Recovery Kingston Smith & Partners appointed trustees in bankruptcy of ex-Newcastle United footballer

4m Emma Smith, Managing Editor
Carillion: PwC appointed as special managers – what happens now?

Business Recovery Carillion: PwC appointed as special managers – what happens now?

4m Emma Smith, Managing Editor
Investment firm acquires Avon Steel Company Limited

Business Recovery Investment firm acquires Avon Steel Company Limited

6m Emma Smith, Managing Editor
Manchester law firm enters into administration

Business Recovery Manchester law firm enters into administration

6m Emma Smith, Managing Editor