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|Premier League: Clubs 'risk bankruptcy' with promotion|
at 16:42 12 Oct 2017
'Between the 2008-09 and 2015-16 seasons, 19 clubs entered the top flight, and only one - Crystal Palace - avoided making a loss.'
'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 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".'
Premier League: Clubs 'risk bankruptcy' with promotion
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