Gold predicts Premier League ‘oblivion’

WEST HAM co-owner David Gold claims England’s top-flight clubs are “spiralling towards oblivion” and has called for spending limits for Premier League sides.

Gold has branded the league’s financial structure “a complete nightmare” which serves only to provide “incredible cars” for players while most clubs are losing money. Only seven of the 20 were in profit last year.

Last month, Portsmouth were docked nine points after becoming the first Premier League club to go into administration.

Gold blasted last night: “It’s a complete nightmare. It’s a complete nonsense that’s spiralling downwards towards oblivion. There’s hardly anybody making a profit. How can that be right?

“Competition is good, it drives the world economy. But in this case what it does is fill the car parks of all the training grounds in the Premier League with the most incredible array of cars.

“You go into my training ground and you’ll see Lamborghinis, Porches, Ferraris; nothing in the car park is under £150,000.”

According to latest figures, only Manchester United, Arsenal, Tottenham, Liverpool, Everton, Blackburn and Birmingham make a profit, although in Liverpool’s case their holding company recorded a loss.

The Premier League insisted that finances overall were “robust” and pointed out that a new set of rules were voted in by the 20 member clubs in September.

The new rules include clubs being required to submit independently audited accounts and future financial information to act as an early warning system.

Clubs are also required to demonstrate every year that they do not have outstanding debts to other clubs or the taxman. The rules also state that clubs who fall into financial difficulties could be subject to controls relating to transfer activity and/or player salaries.

Meanwhile, West Ham are believed to be considering lodging an official complaint over Fulham’s team selection last weekend.

Fulham boss Roy Hodgson left out six regular first-team players for the 2-0 defeat to West Ham’s fellow Premier League relegation strugglers Hull on Saturday. The result leaves the Hammers outside the drop zone only on goal difference. The Premier League have not yet received a complaint but West Ham are understood to be unhappy with Fulham, who rested players ahead of their Europa League quarter-final against Wolfsburg.