Majority of clubs on edge of 'financial disaster' - regulator

English football's finances are "dangerously exposed, with the majority of clubs living on the edge of financial disaster", according to a landmark report by the independent football regulator. Research by the watchdog found 94% of clubs are loss-making, and more than 60% of EFL and National League clubs are technically insolvent. The regulator (IFR) warns of "a dangerous cocktail of rising debt and an over-reliance on owner funding, leaving clubs and their fans at risk".