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Football's finances in the spotlight |
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The accounts at Portsmouth are hitting the headlines for several reasons. Not only are the former coach and the former MD under investigation for tax evasion but the club could soon become the first Premier League to go into liquidation. West Ham's new owner, David Sullivan, describes the state of English football's finances as "frightening".
With the FIFA World Cup kicking off in June, this feature looks at what is happening to the national game, speaking to the FDs at football clubs as well to their financial advisers to ask:
- just how bad is the situation?
- how have got here?
- what are the issues around the financial reporting/management of these clubs, that has led to so many of them being in the red?
- what can finance professionals do to guide these companies to calmer financial waters?
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