SPL: Sport wages warning for clubs
A leading financial consultant has warned Scottish clubs they are on the brink of collapse unless they consider wage-capping.
Rangers announced a £13m (€21) loss over the last six months and chairman David Murray has told manager Alex McLeish he must sell before he can buy.
Now David Glen of PriceWaterhouseCoopers insists the rest of Scotland’s clubs must take heed of Murray’s words.
Glen told the Daily Record: ‘‘I’d estimate Scottish football’s debt is now at £200m (€320m).
‘‘This financial madness cannot go on and Rangers’ figurehead has used his position to highlight that fact.
‘‘The dream of big money for players and vast riches for clubs has died. The game has gone through its crazy phase and now players owe it to football to be realistic in their demands.
‘‘Clubs needed to make big money over the last five years to meet their wage bill.
‘‘Now wage-capping has to come in on a compulsory basis since no player will volunteer to take less money.
‘‘The bottom line is football can’t pay for itself through what’s coming in at the gates. There has been boom and now there’s bust.
‘‘But the road to recovery starts here.
‘‘What Mr Murray says about balancing the purchase of players by the sale of others already at Ibrox makes absolute sense as well.’’
