12 Jan 2010Sullivan labels football finance "frightening"

Football Clubs News | Football Finance News

David Sullivan, the former Birmingham City owner, has claimed that many English football clubs are in dire financial straits.

Speaking to BBC Radio Five Live, he described the general state of football finance in the country as "frightening" and suggested that it is only a matter of time before at least one member of the top-flight goes out of business.

"Many clubs have pre-sold their Premier League income and TV money, and have borrowed against season-ticket money," Sullivan told the news provider.

He said it is "probably odds-on" that a English Premier League club will go bust relatively soon, while claiming that several Championship sides are "on the line at the moment".

Having left Birmingham City following Carson Yeung's buyout in October last year, the businessman has been strongly linked with a takeover at West Ham United alongside David Gold, his former co-owner at St Andrews.

The east London outfit, who are believed to have debts of about £80 million, have also attracted interest from Malaysian entrepreneur Tony Fernandes and the London-based investment company Intermarket.

Written by Terry Mitchell

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