BusinessBusiness RecoverySeason ends in a tie for financially strapped clubs

Season ends in a tie for financially strapped clubs

Amid the acres of newsprint devoted to football ahead of the Euro 2004 championships beginning this weekend, recent days brought a smattering of stories revealing that Premiership clubs had released more than 130 players. The news served to highlight that football's financial pinch is not over yet.

Nevertheless, this was a welcome sign that football is preparing to live within its means. This season, hopefully, clubs will return to their natural home on the sports pages rather than the business section.

Despite last week’s liquidation of conference side Telford United (one of the most successful non-league clubs of recent years), financial discipline can pay off.

Crystal Palace, a club in administration only four years ago, made an unlikely return to the Premiership. Queens Park Rangers will return to the first division next season, after emerging from administration in 2002. Huddersfield and Hull also went from administration to promotion to division two.

Arguments will always rage about whether clubs buy themselves an advantage by going into administration and emerging financially stronger, while rivals who tough it out are left debt-ridden. But now at least there are success stories to point to. Financial discipline off the pitch, it is clear, does not rule out success on it.

Related Articles

Investment firm acquires Avon Steel Company Limited

Business Recovery Investment firm acquires Avon Steel Company Limited

1w Emma Smith, Managing Editor
Manchester law firm enters into administration

Business Recovery Manchester law firm enters into administration

1w Emma Smith, Managing Editor
KPMG appoints new global head of insolvency

Business Recovery KPMG appoints new global head of insolvency

4w Emma Smith, Managing Editor
EY hired by Carillion to review finances

Accounting Firms EY hired by Carillion to review finances

5m Alia Shoaib, Reporter
Using insolvency as a debt recovery tool

Business Recovery Using insolvency as a debt recovery tool

6m Emma Smith, Managing Editor
UK government should support mid-sized businesses to create a ‘new economy’ post-Brexit, says BDO report

Business Recovery UK government should support mid-sized businesses to create a ‘new economy’ post-Brexit, says BDO report

8m Alia Shoaib, Reporter
Over 800 jobs saved as Endless LLP acquires Jones Bootmaker

Business Recovery Over 800 jobs saved as Endless LLP acquires Jones Bootmaker

9m Emma Smith, Managing Editor
FRP Advisory expands operation with new office, partner appointments

Accounting Firms FRP Advisory expands operation with new office, partner appointments

10m Emma Smith, Managing Editor