PORTSMOUTH Football Club is not alone in finding itself in financial dire straits.
A new survey into the corporate health of the English Football League by Begbies Traynor, which has an office in North Harbour, shows that, of the 68 clubs currently playing in the Championship and divisions one and two of the Football League, 13 are displaying signs of corporate distress.
The figures show that while just one per cent of UK businesses are showing symptoms of distress, a massive 19 per cent of the football clubs surveyed show the same degree of financial ill health.
The financially distressed clubs include three in the Championship, six in Division One of the Football League and four clubs in Division Two.
Gerald Krasner, partner at Begbies Traynor, said: ‘For football clubs, like any other business, when there are signs that a company is in trouble, getting good professional advisers on board before the decline has gone too far is key.
‘The earlier a club takes advice, the more options its directors will have available to help turn things around.’