English football is on the brink of financial disaster with 94 PER CENT of clubs running at a loss and nearly two-thirds of EFL clubs 'insolvent' - as shocking scale of the crisis is revealed

The Independent Football Regulator's long-awaited State of the Game report demands 'urgent reform' while delivering the troubling revelation that an incredible 94 per cent of clubs are loss-making, with two-thirds of those in the EFL and National League effectively trading while insolvent. A desperate push to keep up with rivals in a world of spiralling player wages has been identified, which has created 'a dangerous cocktail of rising debt and over-reliance on owner funding' which 'leaves clubs and their fans at risk'.