• Premier League

We need tighter financial regulations - Whelan

ESPN staff
February 15, 2010
Dave Whelan feels football needs to have tighter regulations © Getty Images
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Wigan chairman Dave Whelan has urged the Premier League to implement and enforce tighter financial regulations, describing struggling Portsmouth's plight as a 'crying shame'.

Whelan has written to Premier League chief executive Richard Scudamore suggesting a limit on borrowings as Portsmouth's perilous financial position leaves many clubs fearful for the future.

"I sent a letter to the Premier League, saying, 'Can we have an agreement that we can only borrow 25% of our individual club's turnover?'," Whelan told the Times.

"There should be a limit on borrowings - not as a set amount, but as a percentage of turnover. They have to do something about it.''

Portsmouth were granted a stay of execution at the High Court last week over an unpaid tax bill, but administration remains a real danger.

And Whelan revealed that the pressure of Premier League survival is what drives many clubs to spend beyond their means.

"What has gone on at Portsmouth is a crying shame for football and for their loyal band of supporters,'' Whelan said. "It just comes down to desperation to stay in the Premier League.

"Some of the salaries I've read about - whether the figures are accurate or not - make you cringe. It's not easy for clubs, but the ones that take the risks sometimes come a cropper.''

© ESPN Sports Media Ltd.
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