Finance in football has been scrutinised before in the past, but following shock revelations this week; SPL side Hearts of Midlothian could face liquidation after Saturday's SPL match against St Mirren.
The Tynecastle club owe a tax bill of £450,000 and many believe this is down to the lack of income in the SPL, alongside fact that Rangers demotion to the Third Division has left clubs struggling to create much needed revenue from matchdays. It could create a domino effect, where many clubs also fall foul to financial insecurity.
Today it has been revealed that the Supporters have been asked to raise £2 million to safeguard the future of the Edinburgh club, this action is being taken to reduce the club's deficit at the end of every season and try to stop the deduction of 17 points by the SPL. If the money is raised, the Hearts supporters would earn a 10% stake in the club. Manager John McGylnn said he is welcome to the idea of delaying the payment of his wages to secure the clubs future.
But as we all well know, many English football clubs teeter on the brink of administration and potential liquidation. We all know the struggles at south coast club Portsmouth and they have to go on the manager hunt yet again, after, on Tuesday Michael Appleton was appointed boss at Championship club Blackpool. In League Two, second placed Port Vale are still in administration, but signs for them are encouraging as businessman Paul Wildes was named the preferred bidder and looks set to take full ownership of the Potteries based club.
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| One Pompey fan showing support to the club, that has had financial difficulties since Febraury this year. |
Outside the football league, there is Kettering Town and Truro City, who are facing financial difficulties, whereas other teams like Rushden and Diamonds have been liquidated, following their financial struggles. Truro City are facing the threat of liquidation after it was announced that they are in debt of just under £4 million. Darlington 1883, the Northern League Division One side, formerly known as Darlington, were dissolved earlier this year, after their finances took a heavy blow following the construction of their new 25,000 seater stadium back in 2003.
More needs to be done to protect football clubs, for now and the future especially those outside the football league, where it is harder for teams to make profits to keep them afloat. This season's FA Cup prize money will help support and secure some of the futures for clubs that have reached the First or Second round proper. The FA could set aside a support fund to teams struggling outside the football league to help those in desperate need for funds, so that our beautiful game can be saved at all levels.
