Vital Football

Latest QPR News

Mawhinney Calls For Restraint

Mawhinney Calls For Restraint

Vital QPR - Breaking News
JavaScript must be enabled for the RSS Scrollbox Widget to work.


Football League Chairman Lord Mawhinney has given a stark assessment of the current economic climate for clubs bankrolled by rich owners.

In his address at the Leaders in Football conference in London, earlier today Mawhinney believed that there was an unhealthy reliance on rich owners, providing unsustainable debt.

'As a former Government Minister, I have had exposure to hundreds of businesses. Very few of them were debt free because debt is an integral part of running and growing a business. Debt is not the problem in football, unsustainable debt is," he said.

'Lots of clubs are chasing a dream paid for by their owner's wealth. They are defying economic gravity simply because their owners are rich. There is nothing wrong with that. Rich men have always been involved in football. But increasingly, being a rich man in football is not enough. Today what is required is to be very rich.

'The pressing question is whether such a system can ever be sustainable. Can a huge dependence on the personal or corporate wealth of individuals outside the game and on television revenue ever be sustainably sound in the long term? In my view these models need reworking sooner rather than later.'


On the day where FourFourTwo's football rich list was released announcing profits for many of the games glitterati, Mawhinney believed that some form of restraint was required to stem unsustainable debt.

"Some new element of cost control does seem to be needed - though it should be neither suffocating nor a straightjacket," continued the Football League Chairman.

"Perhaps a first step might be for us to adopt further financial reporting requirements similar to those in the Premier League. We shall see."

To read the full statement on the Football League website: Click Here >>>




Have your say on The Forum

Follow us on Twitter

Become a fan on Facebook - Become a fan of Vital QPR



*Try Vital Mobile FOR FREE for the latest news, scores, fixtures and so much more*

Click here to join in the debate on the club forum.

Writer:Boxer
Date:Wednesday October 7 2009
Time: 1:24PM

Comments

0
Stating the obvious is fine...dealing with it pro-actively and proportiately is where it will get interesting!
Our Kids Dad
07/10/2009 14:55:00
0
I agree, I do hope the politics of envy don't come to the fore. I would impose bigger sanctions for clubs that get into trouble, rather than stopping clubs that want to progress. Any club that is proven to be living beyond their means running up debts during the good times should receive no help should they get into trouble.
Boxer
07/10/2009 15:07:00
Page 1/1
  1. 1

Login to post a comment

Recent Queens Park Rangers Articles

QPR Season in Review - January

RYAN Forrester continues his run-down of the 2015/16 season - with Hasselbaink making his additions

Midfielder Pens QPR Deal

QUEENS Park Rangers have secured the services of midfielder Ariel Borysiuk

QPR Draw Swindon Town

QUEENS Park Rangers have drawn Swindon Town in the EFL Cup First Round

QPR Open With Leeds

QUEENS Park Rangers now know the key date for the diary as the fixtures are announced for the 2016/17 season.

Archived Vital QPR Articles

Vital QPR articles from

Site Journalists

Boxer
Editor email
Profile
sandydl
no email
Profile
Superhoop50
no email
Profile
danielqpr
no email
Profile
JackSupple
no email
Profile

Current Poll (see more polls)

MotM v Bristol City
Suggested By:
Ingram15%
Onuoha1%
Hall0%
Hill11%
Kpekawa1%
Gladwin1%
Henry15%
Faurlin52%
El-Khayati0%
Chery1%
Washington2%
Hoilett0%
Petrasso0%
Polter1%
ScoopDragon Publishing Entire League Network of Sites

League Table

# Team P W D L Pts. GD
C Burnley 46 26 15 5 93 37
P Middlesbrough 46 26 11 9 89 32
3 Brighton 46 24 17 5 89 30
4 Hull City 46 24 11 11 83 34
5 Derby County 46 21 15 10 78 23
6 Sheff Wed 46 19 17 10 74 21
7 Ipswich 46 18 15 13 69 2
8 Cardiff 46 17 17 12 68 5
9 Brentford 46 19 8 19 65 5
10 Birmingham 46 16 15 15 63 4
11 Preston 46 15 17 14 62 0
12 Q.P.R. 46 14 18 14 60 0
13 Leeds Utd 46 14 17 15 59 -8
14 Wolves 46 14 16 16 58 -5
15 Blackburn 46 13 16 17 55 0
16 Forest 46 13 16 17 55 -4
17 Reading 46 13 13 20 52 -7
18 Bristol City 46 13 13 20 52 -17
19 Huddersfield 46 13 12 21 51 -11
20 Fulham 46 12 15 19 51 -13
21 Rotherham 46 13 10 23 49 -18
R Charlton 46 9 13 24 40 -40
R MK Dons 46 9 12 25 39 -30
R Bolton 46 5 15 26 30 -40
Latest F1 News
Latest Vital Boxing News

Recent Queens Park Rangers Results (view all)

Queens Park Rangers Fixtures (view all)

Vital Members League Table

RankNamePoints
1.M Os2
2.Vexillarius_QPR1
3.rodneeranger1
4.QPR4Me1
5.dustman1