14 Jul 2010Scottish Premier League football clubs 'too reliant on owners'

Football Clubs News | Football Finance News

Some of the Scottish Premier League's biggest football clubs are overly reliant on wealthy benefactors and would most likely face financial difficulties if their support was withdrawn, according to a report.

New research carried out by accountancy firm PKF has found that the recent economic downturn has had a further negative impact on sides that were already struggling, such as Heart of Midlothian and championship winners Rangers.

"If the owner decides they are no longer interested in football, then there will be a lot of player contracts with some time to run which will be extremely difficult for any club to honour,” said PKF partner Charles Barnett.

The document also highlights the increasing interest of HM Revenue and Customs, which has taken steps against the existing football creditors' rule south of the border.

Last month, takeover talks between English property developer Andrew Ellis and Rangers majority shareholder Sir David Murray collapsed as both parties failed to reach a satisfactory agreement.

Written by Paul Roberts

Join now to help shape the beautiful game

© Copyright