The latest Begbies Traynor report on football’s well-being states that:
“Of 68 teams surveyed in the Divisions [Championship, 1 and 2], 13 have signs of distress such as serious court actions against them, including winding-up petitions, late filing of accounts and “serious” negative balances on their balance sheets. That 19% compares to just 1% in the wider economy”.
When will they learn? The Firm has been Administrator at several clubs that I’ve personally had involvement with: Chester and Huddersfield. Plus others such as: Lincoln City, Northwich Victoria, Wrexham, Farnborough, Crawley, Scarborough, Bournemouth, Halifax, Southampton and Port Vale.
From a purely selfish perspective this keeps us in business, but how many times do we need to ask when will football get its own house in order?
The survey measures the financial distress of clubs according to problems including serious court actions against them and big negative balances on their balance sheet.