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32 English Football Clubs Face Imminent Financial Crisis, New Report Reveals

A recent report from football's independent financial regulator has revealed that 32 English clubs could face bankruptcy within the next 90 days. The report highlights that most clubs in England are currently losing money.

While wealthier Premier League teams have resources to cope, many others risk collapsing like Bury and Macclesfield Town did in 2019 and 2020.

English Clubs on the Brink of Financial Collapse

The "State of the Game" report by the independent regulator shows that nearly all clubs across England’s top five leagues lost money during the 2025/26 season. About 94% of these teams operated at a loss.

Despite English football generating £9 billion in revenue last year, mainly from the Premier League's global appeal, most clubs depend heavily on owner funding. Around two-thirds say they would fail within 90 days if owners withdrew support, and about one-third couldn't survive more than a month without that backing.

The regulator describes English football as a "game loaded with risk," especially in the Championship, League One, and League Two. Clubs often overspend trying to climb the divisions and reach the lucrative Premier League.

Regulator Calls for Urgent Reform

David Kogan, chair of the regulator, and CEO Richard Monks said: "The conclusion is clear: we can’t afford to waste any more time failing to address the levels of financial risk which have become embedded in English football."

They emphasized that clubs are important social and cultural assets. When teams like Sheffield Wednesday, Derby, and Wigan nearly collapse, it impacts the club, its fans, local communities, and economies.

The report aims to provide a detailed, objective view of the sport's current state and marks the start of efforts to improve sustainability throughout English football.

The regulator is urging the Premier League and English Football League (EFL) to establish a new financial agreement and revenue-sharing model. The Premier League offered to double solidarity payments to the EFL over ten years, but talks continue without a final deal yet.

Upcoming Developments

The full report will be published in early 2027 after public consultation. Meanwhile, the regulator hopes this warning will prompt immediate action to protect clubs’ futures and preserve football's widespread success.

  • Number of clubs at risk: 32
  • Percentage of teams operating at loss (2025/26): 94%
  • Revenue generated by English football (last season): £9 billion
  • Clubs unable to survive over 90 days without owner support: Approximately two-thirds
  • Clubs unable to last more than a month without owner funding: About one-third

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