CORNERFLICK
An independent report says 94% of English clubs are making losses, with many lower-league sides reliant on owner funding to keep going.
What the report found
The 245-page study, The State of the Game, says more than 60% of clubs in the English Football League and the National League are technically insolvent. That does not necessarily mean formal bankruptcy, but it points to fragile finances across much of the pyramid.
The report also says more than a quarter of clubs would struggle to continue for more than a month if owner support stopped.
Debt and the gap between divisions
It identifies a widening gap between the Premier League and the lower divisions as one of the main problems. Last season, average revenue at a Premier League club was 8.7 times that of a Championship side, almost four times the ratio in 1992, when the Premier League was founded.
The report says Premier League debt, which accounts for about 75% of all club debt in English football, rose from £2.8 billion in the 2020-21 season to £4.1 billion in 2024-25 and is forecast to reach £5.1 billion in 2026-27.
Proposed fixes
The authors describe the situation as a warning for English football and set out six measures to reduce financial risk, including higher cash reserves and emergency plans for clubs if owners stop funding them.
They say the scale of income in the Premier League masks deeper problems elsewhere in the game, where rising wages and heavy debt have left many clubs exposed.