football Chief in cash KO warning
FOOTBALL LEAGUE chief Greg Clarke says the game’s money madness cost ex-Nottingham Forest chairman Nigel Doughty his life.
Doughty poured £23m into Championship side Forest
over 13 years.
But he quit as chairman last October amid fan protests
and in February was found dead from a suspected heart
attack at 54.
Clarke made his claim as he announced new Financial
Fair Play rules meant to prevent the game collapsing
under£2BILLION of debt within five years.
He said: “It’s getting harder and harder. Look at poor
Nigel Doughty. It was a contributory factor.
“I was there the day he and Steve McClaren resigned
. I’m not a doctor so I can’t say it was the strain of running
Forest which did it. But he was a guy under a lot of stress.
“Lots of chairmen are struggling. If we let the market determine
our behaviour, more and more clubs will go bust.”
The new regulations come in next season although punishments
will not apply until 2014-5.
They say Championship clubs should work on a break-even
philosophy.
By 2015-6, Championship clubs must have pre-tax losses of under £2m, excluding investment in things like youth schemes.
Clarke added: “We don’t want to kill the dream. We want to make sure the dream is affordable.”
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