Football League (EFL) clubs are facing a 'cash hole' of £200 million by September, chairman Rick Parry told a parliamentary committee on Tuesday.
MANCHESTER, England: Football League clubs are facing a"cash hole" of £200 million by September, chairman Rick Parry told a parliamentary committee on Tuesday .
"We are heading for a financial hole of about 200 million, a cash hole we need to fill, clubs will need to fill ... the cash hole towards autumn looks pretty grim," said Parry. "Our objective, obviously, is to lose none," he said, adding that:"We would like to emerge stronger, leaner and more efficient, with a proper reset post-Covid."On average Championship clubs spend more on wages than they earn in revenue, while spending on players and transfers across the three divisions has left clubs struggling for viability.
Parry said the aim of the league remained to resume play when it was safe to do so, but he said the motivation was to ensure the"integrity" of the competition rather than generate revenue.
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