Categories: SPORT

Championship clubs reject call for greater transparency over spending and financial records


Championship clubs reject call for greater transparency over spending and financial records

  • A meeting of second-tier sides was hosted at Nottingham Forest’s City Ground
  • Boro owner Steve Gibson proposed that club finances should be open to review
  • Birmingham were hit with a nine-point deduction for losing more than £39m

Championship chairmen and directors voted against a proposal that would have enabled accountants to independently review other clubs’ financial records as the battle over spending breaches rises.

In a crunch meeting at Nottingham Forest’s City Ground a majority of club representatives decided the current EFL rules on profit and sustainability were stringent enough after concerns had been raised by Middlesbrough owner Steve Gibson.

Gibson, who did not attend in person, has been angered at the transfer actions of rival teams, insisting Derby County, Aston Villa and Sheffield Wednesday should be investigated over regulation breaks. Birmingham were hit with a nine-point deduction for losing more than the allowed £39million over three years and Gibson feels the identified trio of clubs are also guilty.

Clubs have agreed that the EFL should continue to independently police spending rules

A particular point of contention was Derby owner Mel Morris being able to buy and lease back Pride Park to mean the club lodged a profit in their 2017/18 accounts.

Gibson has general support from other Championship board members but failed in a bid to introduce the extra check of independent accountants being able to analyse balance sheets. The move would have been to guard against clubs potentially manipulating cash flows to comply with the rules.

Most of those in attendance felt satisfied with the current system, which includes EFL staff assessing annual accounts and working with clubs over a period of time.

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