Football / England: six recommendations from independent regulator to reduce financial risks

The Independent Football Regulator (IFR), created in 2025 to promote the long-term viability of the 116 clubs in the top five divisions of the English men’s football pyramid, has published a draft report (“State of the Game Report”) on the state of English football. It sets out six recommendations to "reduce systemic risk and improve club financial soundness," on 13 October 2026.

The six recommendations are as follows:
1. Revenue distribution should be reformed but changes should focus on financial stability not encouraging reckless spending.
2. Leagues, clubs and other stakeholders should take action to reduce financial losses.
3. Action should be taken at National League level to ensure football governance matches the risk within the game.
4. Clubs must improve how they manage financial…