Post by thad on Oct 10, 2017 15:00:13 GMT
Premier League: Clubs 'risk bankruptcy' with promotion
English Football League clubs risk bankruptcy by chasing promotion to the Premier League, financial experts say.
Between the 2008-09 and 2015-16 seasons, 19 clubs entered the top flight, and only one - Crystal Palace - avoided making a loss.
Average losses in their promotion seasons were more than £300,000 per week, financial data firm Vysyble said.
But the English Football League (EFL) said such reports "confuse the reality of the situation for supporters".
Most of the promoted clubs made money in their first Premier League season, but after four years just one in four was still in the black, according to Vysyble's report.
One in three was immediately relegated and two in three were down again within three years.
The report describes the "economic exhaustion" of trying to compete with the more established Premier League clubs.
Between the 2008-09 and 2015-16 seasons, 19 clubs entered the top flight, and only one - Crystal Palace - avoided making a loss.
Average losses in their promotion seasons were more than £300,000 per week, financial data firm Vysyble said.
But the English Football League (EFL) said such reports "confuse the reality of the situation for supporters".
Most of the promoted clubs made money in their first Premier League season, but after four years just one in four was still in the black, according to Vysyble's report.
One in three was immediately relegated and two in three were down again within three years.
The report describes the "economic exhaustion" of trying to compete with the more established Premier League clubs.
