Seven of the 10 English Premiership clubs are balance sheet insolvent, according to an independent financial industry report which has prompted a stark warning that unless the sport embraces change it is “heading for a precipice”.
A comprehensive study analysing the financial sustainability of all the Premiership sides, unveiled by the leading UK corporate recovery and insolvency firm Leonard Curtis, concluded that only three clubs – Leicester, Northampton and Gloucester – would be viable without the backing of wealthy owners and said they must face “some harsh realities”.
