In a recent statement, David Kogan, the head of the new Independent Football Regulator, issued a stark warning to Premier League clubs regarding their financial responsibility towards the English Football League (EFL). With the recent financial struggles of Sheffield Wednesday serving as a cautionary tale, Kogan emphasized that without intervention and a fair distribution of TV revenue, many clubs in the EFL could face imminent closure. He highlighted that numerous clubs have reached a critical point where they might not survive for more than a month without financial backing from their owners.

The overarching concern raised by Kogan points towards a broader systemic issue within English football, where the success of the Premier League inadvertently creates disparities that endanger the financial viability of lower-league clubs. He stated that the current financial structure entrenches risk, leaving clubs vulnerable not only to owner withdrawal but also to the changing dynamics of television revenue allocation. This predicament, if not resolved, could lead to a cascading effect where, after Sheffield Wednesday, more clubs might find themselves teetering on the brink of insolvency.

Kogan's message at the FT Live event serves as a rallying call for Premier League clubs to take a more proactive role in ensuring financial stability across all levels of English football. The looming threat of more clubs collapsing under financial strain raises questions about the sustainability of the football pyramid and the ethical obligations of wealthier clubs to support their less fortunate counterparts, ultimately posing a risk to the integrity of the sport in the UK.