Premier League clubs including Leicester City 'close to bankruptcy' due to overspending, report warns

PREMIER League clubs are headed for bankruptcy due to chronic overspending, a report warns.

The upshot could mean big clubs forming a European Super League.

Clubs have lost £2billion in eight years since 2008-9 based on the difference between revenue and costs.

Co-author Roger Bell said: “Clubs are losing a record £876,700 every day. TV cash does not meet the millions spent on wages. The league should be very worried.”

Only five clubs made a profit in 2015/16. Chelsea and Man City accounted for more than half of total losses in the eight years.

Relegated Norwich beat Jamie Vardy’s champions Leicester for profitability in 2015-16.

The crunch will come when three-yearly rises in TV rights dry up.

Amazon and Google may fill the void, says the report by analysts Vysyble.


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Premier League clubs like Manchester City are headed for bankruptcy due to massive over-spendingCredit: Reuters



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