Majority of English football clubs on the edge of financial disaster, report says
A new report from an independent regulator reveals that 94% of English football clubs are loss-making, with many facing potential insolvency. The findings highlight a reliance on owner funding and a lack of sustainable business planning across the top five leagues.
Why it matters
The report serves as a warning that the financial structure of English football is fragile and requires urgent regulatory reform to prevent club collapses.
Image source, Getty Images Image caption, Bury were expelled from the EFL amid financial difficulties in 2019 - the first team to drop out since Maidstone's liquidation in 1992
English football's finances are "dangerously exposed, with the majority of clubs living on the edge of financial disaster", according to a landmark report by the independent football regulator.
Research by the watchdog found 94% of clubs are loss-making, and more than 60% of EFL and National League clubs are technically insolvent.
The regulator (IFR) warns of "a dangerous cocktail of rising debt and an over-reliance on owner funding, leaving clubs and their fans at risk".
The 'State of the Game' report also suggests that despite the economic success of the Premier League, the financial 'cliff-edges' between and within leagues have grown significantly.
94% of clubs in the top five English leagues made losses in 2025-26
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