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Preston North End are the only debt-free Championship club

Posted on - 27th August, 2015 - 7:00am | Author - | Posted in - Preston North End, Sport
deepdale

Deepdale stadium.

Preston North End are the only debt-free club in the Championship, according to a new study.

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The club are in a healthy financial decision due to the decision from Trevor Hemmings to wipe more than £34 million worth of debt from the club’s finances.

Nearby club Bolton Wanderers remain the club with the most financial problems with £182.1 million owed to millionaire Eddie Davies.

The total debt in the Championship is more than double the overall turnover of the clubs.

This represents the danger of clubs chasing the Premier League with financial abandon.

On top of this, clubs relegated after just a single year in the Premier League are now subject to reduced parachute payments (designed to soften the financial blow of relegation).

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