English Football League clubs "risk bankruptcy by chasing promotion to the Premier League," financial experts said, according to the BBC. Between the '08-09 and '15-16 seasons, 19 clubs entered the top flight, and "only one -- Crystal Palace -- avoided making a loss." Average losses in their promotion seasons were more than £300,000 per week, financial data firm Vysyble said. But the EFL said that such reports "confuse the reality of the situation for supporters." Most of the promoted clubs made money in their first Premier League season, "but after four years just one in four was still in the black," according to Vysyble's report. One in three was "immediately relegated and two in three were down again within three years." The report describes the "economic exhaustion" of trying to compete with the more established Premier League clubs. Report co-author Roger Bell said that "many fans and owners of EFL clubs" see promotion to the top flight as a "golden ticket to untold riches" but, in reality, trying to stay in the Premier League is "ultimately loss-making." This "financial over-exertion" can lead to long-term problems, Bell continued, which "cannot be solved by parachute payments to relegated sides," even though they can now total more than £90M ($118.9M). An EFL spokesman said that it is "one of the most competitive competitions in world football" and is in a "strong financial position" (BBC, 10/10).
