Source: Daily_Mail
A Premier League club could go bust this year, predicts David Sullivan
'Frightening': David Sullivan is pessimistic about the state of balance books in the top flight[LNB]Former Birmingham owner David Sullivan believes the state of football finances is 'frightening' and reckons it is 'probably odds on' that one Barclays Premier League club will collapse this year. [LNB]Sullivan sold his stake in the Blues to Hong Kong businessman Carson Yeung last October and has since looked into the finances of 20 clubs with a view to getting back into football. [LNB]But his findings have not made for happy reading. He told the Tony Livesey programme on Radio Five Live: 'Some clubs, if you saw what we have seen about the accounts... we've looked at 20 clubs since we've left Birmingham. The state of the finance of football is frightening, that's all I can say. [LNB]'There's many many clubs have pre-sold their Premier League income, television money. They've borrowed against one- and two- and three-year season-ticket money. They've borrowed against everything.'[LNB]He continued: 'I think there's a possibility one (Premier League) club could go. I think probably odds on one club will go. [LNB]'There's several Championship sides absolutely on the line at the moment. It's a question of whether they can sell players for sufficient money to stay alive. [LNB]'But there's not a lot of money out there to buy players at the moment. Even some of the clubs who you think have got money really haven't got much money to spend on players.'[LNB] United launch attempt to raise £500m as debt mountain bites championsWill bond sale push Manchester United out of the red?Tom Hicks Jnr Kops it as Liverpool director for foul-mouthed fan rantPortsmouth executive director calls for fans to lay off owner Ali Al Faraj[LNB]
