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Lord Bassam of Brighton (Lab)

Speaking in the House of Lords on 27 November 2024

Debate

Football Governance Bill [HL]

Contribution

Following up on my noble friend’s point, looking at the finances of some clubs, you do wonder. Would the noble Lord, who has been in business himself, tolerate a situation where he only had five hours’ worth of reserves? Nottingham Forest last year spent something like £58 million on wages but had just £25,000 in cash reserves. I know that this is not uncommon across the world of football, but is that a highly desirable state of affairs? Is that not something that we should focus on? Is it not why we want good financial sustainable regulation? That is why we have got to this point where both sides of the Chamber have accepted the need to have a football regulator.

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