Portsmouth's rivals face going into administration in 'next few weeks' with EFL in crisis

That’s the view of Damian Collins MP as he urged the government to underwrite a new body set up to save stricken league outfits.

A report published by Collins, who was chair of the Department for Digital, Culture, Media & Sport (DCMS) and Sunderland co-owner, Charlie Methven, outlines plans to create a new Football Finance Authority (FFA) to save clubs going to the wall.

Collins told Sky Sports today: ‘We could face in the next few weeks between five and 10 EFL clubs going into administration.

‘We saw the public outcry last summer with just two clubs in that position.

‘If that happens there will be a huge demand to do something, because those clubs will probably go to the wall.

‘The finances of Football League clubs in particular has been hugely problematic for years.

‘The fact we last saw the failures of Bury and Bolton underlines that.

‘What coronavirus has done has kick away the thing those clubs rely on for survival: matchday revenue.

‘In particular, businesses have come to a crisis point now not just because the current season has been completed but the revenues clubs get in June for season tickets won’t be forthcoming.

‘For these clubs they have no reserves to draw on. The financial assistance which has come so far from the Football League and Premier League in solidarity payments is really just advancing next season’s money into this season. It doesn’t replace this cash.

‘So it’s our belief that in the next few weeks you’ll see a series of clubs file for administration without financial support.’

The report details how the FFA would be funded by the government and buy minority shareholdings in struggling clubs.

It would then hand down money to restructure finances which couldn’t be spent on players.

As part of the process, independent directors would be appointed who would have access to financial records and report any concerns.

Supporter trusts or local authorities would later be able buy the shareholding at discounted rates when clubs were back on an even keel.

Collins added: ‘We need to have a bailout fund and the governments should be involved in the bailout fund.

‘But it can’t just be throwing good money after bad.

‘Our concern is these clubs are ran in such a poor way these funds would just be frittered away and back again in a very short period of time.

‘So it needs to come with proper oversight.’