Insolvency: The beautiful game?
The last few years have been turbulent for football club finances. In particular, 2010 has seen football clubs hit the headlines for the wrong reasons once again, and issues of football club insolvency have received significant press attention. Be it Manchester United's highly-leveraged debt, the wealthy benefactor of their cross-town neighbours Manchester City, or the recent administrations of Portsmouth and Crystal Palace, the finances of many successful and long-established football clubs are coming under increasing scrutiny.
Rules governing football club administrations can leave many unsecured creditors high and dry, but all that might be about to change, explain Reed Smith’s Julian Turner and Emma Flacks
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