Portsmouth FC: Michael Eisner warns Championship is facing financial 'catastrophe'

March 18, 2026 - 18:45

Portsmouth chairman Michael Eisner has issued a stark warning that the Championship is heading for a financial "catastrophe" unless the distribution of money from the Premier League is urgently reformed. His comments follow Portsmouth's own recent financial results, which showed a significant loss despite the club winning the League One title last season.

Eisner highlighted the unsustainable gap between the top flight and the second tier, noting that parachute payments to recently relegated clubs create a hugely uneven playing field. This system, he argues, forces other Championship clubs to spend beyond their means in a desperate bid to compete, leading to dangerous levels of spending and widespread financial losses across the division.

The American businessman pointed to Portsmouth's own prudent model as a contrast, but stressed that the entire league's economics are broken. Without a more equitable share of football's vast revenues, he fears for the future of many historic clubs. The warning adds to a growing chorus of concern about the financial health of the EFL, with calls for a new settlement with the Premier League becoming increasingly urgent to prevent a crisis.