- A landmark 'State of the Game' report by the new independent football regulator has warned that English football is operating on the brink of financial disaster, with 94% of clubs across the top five tiers making a loss in the 2025/26 season.
- Despite English football generating £9bn in revenue last season, two-thirds of clubs would not survive more than 90 days if their owners withdrew financial backing, while nearly one-third would collapse within a month.
- The regulator stated that urgent reform is vital to protect clubs as prized social assets, noting that reckless overspending to achieve promotion has created severe financial instability across the game.
- The watchdog renewed calls for the Premier League and English Football League to finalise a new financial distribution model.
- Culture secretary Lisa Nandy said the report validated fans' long-standing anxieties over club ownership, while the Premier League welcomed the findings and reiterated its commitment to finding a “football-led” solution to its negotiations with the EFL.
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