Whelan calls for stricter regulations
Whelan has written to Premier League chief executive Richard
Scudamore suggesting a limit on borrowings as Portsmouth’s perilous
financial position leaves many clubs fearful for the future. Whelan
told The Times: “I sent a letter to the Premier League, saying,
‘Can we have an agreement that we can only borrow 25% of our
individual club’s turnover?’ “There should be a limit on borrowings
– not as a set amount, but as a percentage of turnover. They have
to do something about it.” Portsmouth were granted a stay of
execution at the High Court last week over an unpaid tax bill, but
administration remains a real danger. “What has gone on at
Portsmouth is a crying shame for football and for their loyal band
of supporters,” added Whelan. “It just comes down to desperation to
stay in the Premier League. “Some of the salaries I’ve read about –
whether the figures are accurate or not – make you cringe. “It’s
not easy for clubs, but the ones that take the risks sometimes come
a cropper.”