Optimistic report over PL clubs debt reduction

The UK arm of accountancy firm PricewaterhouseCoopers has published a report which analyses in detail the financial state of the Scottish clubs. The report expressed reduction in debt with losses falling by £10m, the combined wage bill dropping £7m and less money spent in the transfer market. However, the report indicated that the high wages-to-turnover ratio of 86% (except Celtic and Rangers) continues to be the main obstacle in reducing the debts, and suggested that a further £15.6m needs to be cut from the overall wage bill stands at £106m to attain a sustainable 60% ratio. “A year on, and the picture for Scottish football is looking a bit brighter. Overall there is a long way to go, but the signs of financial recovery for the SPL are there and growing: losses are falling,” David Glen, partner at PricewaterhouseCoopers and author of the report commented to media.

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