MANCHESTER, England, May 5 (Reuters) - Football League (EFL) clubs are facing a “cash hole” of £200 million by September, chairman Rick Parry told a parliamentary committee on Tuesday.
Parry, the former chief executive of Liverpool, was being questioned by the Digital, Culture, Media and Sport Committee, and said all involved in the game, including players and owners, needed to “share the pain”.
“We are heading for a financial hole of about 200 million, a cash hole we need to fill, clubs will need to fill...the cash hole towards autumn looks pretty grim,” said Parry.
Parry said he was hoping the league would come out of the crisis “stronger, leaner more efficient, to have a proper reset” and said he hoped players would be willing to take pay cuts.
“What was clear at the start of the process (was that) the players were not aware of the depth of the problem,” he said, adding that an “open book” policy from the league would help the players see the need for cuts or deferrals.
The EFL, which includes the second tier Championship, has not played since early March. (Reporting by Simon Evans; Editing by Hugh Lawson)