Successful administration sale of EFL club

The Challenge

A football club entered administration midway through the season struggling with overdue player and staff wages and an acute cash flow crisis which was threatening its ability to fulfil upcoming league fixtures. The English Football League imposed a 15-point deduction complicating rescue prospects, whilst complex stakeholder dynamics involved players, staff, creditors, the EFL, potential investors, and supporters. The multi-company structure and specialised football industry regulatory requirements added significant complexity, requiring coordination across various BTG offices and service lines.

Our Approach

Upon appointment our immediate priority was to stabilise operations to allow completion of the season’s remaining fixtures and enable payment of outstanding wages to players and staff. Our team negotiated with the club’s incumbent owners who agreed to waive their £24 million claim to aid with the rescue of the club. We launched an appeal against the EFL's 15-point deduction, achieving recognition from the independent panel for work quality despite the unsuccessful outcome. We engaged over 100 interested parties during the sales process and identified credible buyers who met EFL ownership criteria. We also pursued a Covid-related trading losses claim which realised over £500,000 for creditors.

The Outcome

BTG successfully sold the club to an investor approved by the EFL, preserving the football club as a going concern and protecting its place in the English football league structure. The season was completed without fixture disruption, maintaining sporting integrity and supporter engagement throughout the administration process. All football creditors received payment in full as required by EFL regulations, whilst unsecured creditors achieved a 25p/£ dividend significantly enhanced by the £500,000+ insurance claim recovery. The multi-disciplinary approach across various BTG divisions maximised asset values and creditor returns.