🚨 The Independent Football Regulator has released its 'State of the Game' report. It highlights a game loaded with both revenue and risk. - Clubs brought in £9bn in revenue in 2025/26. - English teams receive an average of £80m from qualifying for the UCL. Chelsea won over £84m for winning the Club World Cup in 2025. - Clubs have grown 10x faster than the UK economy since 1992. - And yet 94% of clubs still make losses. - 32 clubs stated they couldn't survive 30 days without owner funding. - 20% of Premier League clubs and 60% of EFL and National League teams are technically insolvent. - Sale of select assets, such as a women's team or a hotel, to comply with financial rules is termed 'creative compliance', and something the IFR will proactively look at. - Report notes "increased enforcement and litigation could raise costs and reduce the attractiveness of investing in English football." - Recommendations include a focus on revenue distribution, reducing losses, financial and corporate governance, and formulation a National League-specific strategy. Other points from today's Manchester launch: - IFR has within its power the right to force Manchester City's owners to sell, or assess #MCFC's license, if they deem the Premier League charges warrant this. Won't get involved until the case, inclusive of appeals, has concluded. - Chair David Kogan reiterated he will resign if he ever feels the IFR's independence is compromised. "My independence is absolute". - Confidence the EPL and EFL will agree a new funding deal soon. EPL add: "We believe the proposal we have made to the EFL, which was unanimously approved by Premier League clubs in July, meets the objectives the IFR has set out in its Report. The League remains committed to concluding a long-term partnership with the EFL that is fair, generous and balances the interests of all clubs."