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English football faces financial crisis as IFR warns of widespread insolvency
The Independent Football Regulator (IFR) has released its inaugural ‘State of the Game’ report, warning that English professional football is facing a severe financial crisis. Despite the industry generating record revenues of approximately £9 billion in the 2025/26 season, the report reveals deep structural instability across the football pyramid.
Key findings indicate that 94% of the 160 regulated clubs in the top five divisions recorded losses last season. The report highlights a dangerous reliance on owner funding; 66% of clubs could not survive more than 90 days without fresh capital, and 29% would be unable to operate beyond 30 days if owner support were withdrawn. Furthermore, over 60% of clubs in the EFL and National League are considered technically insolvent, with liabilities exceeding their assets.
Financial disparities are widening, as the average Premier League club now earns more than eight times the revenue of a typical Championship side. IFR Chairman David Kogan noted that while some clubs are among the world's wealthiest, others are on the brink of financial disaster. The regulator is calling for urgent reforms, including improved revenue distribution, stricter spending controls, and mandatory contingency planning to ensure long-term sustainability.
Entities
David Kogan · English Football League · Independent Football Regulator · Lisa Nandy · Manchester City · National League · Premier League
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 5 SOURCES] English football generated £9 billion in revenue during the last season. dev.tnonline.com.br · www.spacemoney.com.br · www.101greatgoals.com · www.gbnews.com · www.independent.co.uk
- [● 3 SOURCES] 66% of clubs could not survive more than 90 days without fresh funding from owners. azeritimes.com · www.football365.com · www.marca.com
- [○ 1 SOURCE] Total debt in English football is predicted to reach £5 billion by the end of the current season. www.gbnews.com
- [● 8 SOURCES] 32 clubs have less than 30 days of cash reserves to operate. azeritimes.com · dev.tnonline.com.br · www.101greatgoals.com · www.dgabc.com.br · tribunadepetropolis.com.br · +3 more
- [● 5 SOURCES] The average Premier League club earns more than eight times as much as the average Championship club. azeritimes.com · dev.tnonline.com.br · www.101greatgoals.com · www.gbnews.com · www.telegram.hr
- [● 18 SOURCES] 94% of clubs in England's top five leagues recorded losses in the 2025-26 season. azeritimes.com · dev.tnonline.com.br · www.insider.gr · www.spacemoney.com.br · tribunadepetropolis.com.br · +11 more
- [● 11 SOURCES] More than 60% of clubs in the EFL and National League are technically insolvent. azeritimes.com · www.insider.gr · www.101greatgoals.com · www.football365.com · www.gbnews.com · +5 more
- [● 7 SOURCES] 17 clubs in the EFL and National League would incur losses even if they paid zero player wages. azeritimes.com · www.football365.com · www.marca.com · www.101greatgoals.com · www.gbnews.com · +2 more
- [● 4 SOURCES] Total football debt rose from approximately £2.8 billion in 2020/21 to £4.1 billion in 2025/26. www.finanznachrichten.de · www.wz.de · www.focus.de · azeritimes.com
- [● 21 SOURCES] 94 percent of 116 clubs in the top five English football divisions reported losses last season. www.finanznachrichten.de · www.wz.de · www.focus.de · azeritimes.com · dev.tnonline.com.br · +16 more
- [○ 1 SOURCE] Liam Byrne, chair of the Business and Trade Committee, has requested clarification from the FRC.
- [○ 1 SOURCE] Manchester City breached financial rules over nine seasons between 2009 and 2018.