EXCLUSIVE: Football finance squad formed
The Football Association is close to launching a unit designed to tackle the growing problem of financial mismanagement within the game.
Resources have been set aside by the FA to recruit and launch the arm – expected to be called the ‘Football Advisory Unit’. Its aim is to promote the need for financial awareness within the 320 clubs in England which operate as businesses.
Jamie Magraw, head of the FA’s financial advisory unit, said the proposals for the workings of the unit were going through consultation with league representatives.
It is likely to be launched in time for the new season in August. Magraw said: ‘We are in the process of talking to the FA, the FA Premier League, Football League and non-leagues regarding what it is they want us to have in place.’
The FA is actively recruiting three qualified auditors to work within the unit. Their role will be to conduct reviews of the clubs, consult on best practice and provide detailed business plans.
The clampdown on football mis-management by the FA follows it’s double disappointment at losing out to Germany in its bid to host the 2006 World Cup – coupled with the thuggish behaviour of some England fans during the recent European Championships.
Renewed hope for beleaguered football clubs