Sunderland Echo

We only have a few weeks to save clubs, says Methven letter

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League hope to return on June 17 and the Championsh­ip next month too, clubs in League One and Two face an uncertain future.

League One clubs are yet to vote on whether to either curtail or resume the season.

Collins, former chair of the Digital, Culture, Media and Sport Select Committee, has written the letter and it calls for urgent action.

It reads: “We may only have a few weeks to save profession­al football in this country as we know it.

“The shock of the Covid-19 crisis has badly exposed the weak financial position of clubs in the English Football League, many of whom were already on the edge of bankruptcy.

“For clubs in Leagues 1 and 2 in particular, the loss of match-day revenue and money from the sale of season tickets is a major blow that some will not be able to survive.

“We want to see football return as soon as possible and for the current season to be completed in the divisions above League 2.”

It adds: “Overall, if nothing is done to provide financial support to football, clubs with old and famous names will almost certainly go into administra­tion within weeks.

“More communitie­s will go through the agony that Bury suffered last year.

“We will also see the release of up to 1,400 players who will fall out of contract this summer.”

As revealed last week, Methven and Collins have produced a blueprint aimed at preventing clubs from going under.

It sets out a six-point plan which includes the establishm­ent by the Football Associatio­n of a Football Finance Authority (FFA), financiall­y backed by the Government, which would provide funds to keep clubs affected by the pandemic afloat.

Rather than a loan, the report says, these funds would be exchanged for a minority shareholdi­ng of up to 49 per cent.

The funding could only be used to meet short-term liabilitie­s and create breathing space to restructur­e finances, rather than on the recruitmen­t of players or improving infrastruc­ture.

An independen­t director, chosen by a registered supporters' trust or local government authority, would join the board of the club to represent that shareholdi­ng, and then either the supporters' trust or local authority could acquire the shareholdi­ng at a discount to market value at some point in the future.

The letter sent on Thursday reflects the six-point plan.

 ??  ?? Former Sunderland executive director Charlie Methven.
Former Sunderland executive director Charlie Methven.
 ??  ?? Damian Collins MP.
Damian Collins MP.

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