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| Version 2 | Version 3 |
|---|---|
| Football clubs 'in poor financial health' | Football clubs 'in poor financial health' |
| (about 3 hours later) | |
| One in five clubs in the English Football League is in "poor financial health", according to a survey by administrators Begbies Traynor. | |
| The company is overseeing the administration of Port Vale, the latest in a list of clubs including Portsmouth who are in trouble. | The company is overseeing the administration of Port Vale, the latest in a list of clubs including Portsmouth who are in trouble. |
| "Many clubs are continuing to spend too much, principally on players' wages, as they always have done," it said. | "Many clubs are continuing to spend too much, principally on players' wages, as they always have done," it said. |
| The survey did not include any teams in the Premier League. | The survey did not include any teams in the Premier League. |
| The Football League refers to the three divisions below the top flight - the Championship, League One and League Two. | The Football League refers to the three divisions below the top flight - the Championship, League One and League Two. |
| Of 68 teams surveyed in those divisions, 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. | Of 68 teams surveyed in those divisions, 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, the firm said. | That 19% compares to just 1% in the wider economy, the firm said. |
| 'Underlying problems' | 'Underlying problems' |
| "While Premier League clubs are guaranteed huge television money every year and some have extremely wealthy backers, there are signs of genuine financial distress among a significant number of football league clubs," said Gerald Krasner, a partner at Begbies Traynor. | "While Premier League clubs are guaranteed huge television money every year and some have extremely wealthy backers, there are signs of genuine financial distress among a significant number of football league clubs," said Gerald Krasner, a partner at Begbies Traynor. |
| "The sales of season tickets for next season, many of which are paid for during April and May, could provide some short-term relief for struggling clubs, but it won't solve the underlying problems." | "The sales of season tickets for next season, many of which are paid for during April and May, could provide some short-term relief for struggling clubs, but it won't solve the underlying problems." |
| The financially distressed clubs include three in the Championship, six in League One and four in League Two. | The financially distressed clubs include three in the Championship, six in League One and four in League Two. |
| The survey was anonymous and Begbies Traynor said the clubs surveyed could not be named. | The survey was anonymous and Begbies Traynor said the clubs surveyed could not be named. |
| The deadline for potential bidders for Port Vale was Monday. Begbies Traynor have said they were expecting five bids. | The deadline for potential bidders for Port Vale was Monday. Begbies Traynor have said they were expecting five bids. |
| Portsmouth's administrators Trevor Birch have welcomed initial interest by the Portsmouth Supporters' Trust to buy the club through a share scheme. | Portsmouth's administrators Trevor Birch have welcomed initial interest by the Portsmouth Supporters' Trust to buy the club through a share scheme. |
| Rangers' administrators Duff and Phelps have set a deadline of 4 April for "best and final offers". | Rangers' administrators Duff and Phelps have set a deadline of 4 April for "best and final offers". |
| Interest has come from the Blue Knights, a US group fronted by Club 9 Sports and a consortium from the Far East. | Interest has come from the Blue Knights, a US group fronted by Club 9 Sports and a consortium from the Far East. |