Draft regulator report depicts English football as increasingly unequal and reliant on debt and owner top-ups

The Athletic reports that the Independent Football Regulator’s draft State of the Game report describes English football as increasingly unequal, reliant on debt and owner top-ups, loss-making and incapable of controlling costs. Published in October 2026, the 244-page draft previews a full assessment of the game’s finances expected in 2027.