By Dan Chapman
It is perhaps no surprise that a survey has been released today which concludes that one in five clubs in the English Football League are in “poor financial health”.
The survey, conducted by insolvency practitioners Begbies Traynor, looked at 68 teams in the Football League (thus the three divisions beneath the top flight) and concluded that 13 have signs of “distress” – which compares very unfavourably to the 1% of businesses in the wider economy.
Commenting on the findings, Full Contact’s Dan Chapman said: “For me the surprise is that the findings have not reported an even gloomier picture. I would be of the view that more than one in five clubs are in some form of financial difficulty, particularly if one applied traditional indicators. This report has relied simply on Companies House data to indicate distress, such as the late filing of accounts, winding up petitions, and whilst all of these factors are clearly relevant a true assessment of the financial position of a football club would need to be far more comprehensive. “
The Full Contact team have advised football clubs in the Football League and Football Conference on their financial difficulties, often presenting innovative and dynamic solutions which have not previously been considered. Dan comments: “Whilst the position may seem bleak for many clubs, I strongly believe that with hard work and, in some cases, a significant change in culture and attitude, there are various solutions available.”
Visit the BBC’s website for further information on the survey.« Will Buckley commences tenure as Chairman of Full Contact EPPP – The Elite Player Performance Plan »
The spearhead and Senior Partner of Full Contact, Dan is an experienced solicitor and advocate, with a specialist background in employment law and sports.
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