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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