CCR Magazine

CCRi banner ad
You are here  :Home arrow News arrow Premier League clubs owe £1.3million in unpaid invoices
Contact Us Newsletter Signup RSS Feeds

Latest News Headlines

Headlines

 
Commercial Credit News

Headlines

 
Premier League clubs owe £1.3million in unpaid invoices PDF Print E-mail
Thursday, 25 May 2017
Data released today in Creditsafe’s Prompt Payment Premier League, has revealed English Premier League Clubs have overdue invoices totalling £1.3million and 20% are late by 20 days or more beyond the agreed payment terms.

Manchester United who place 19th in the Prompt Payment Premier League have 63 outstanding invoices totalling £857,183, making up 66% of the total value of outstanding invoices owed by all Premier League clubs.

Despite having a combined annual turnover of more than £987million, Arsenal, Manchester City and Manchester United all pay their suppliers on average, 8 days slower than the Premier League average of 13 days beyond terms (DBT).

In comparison, 2 out of the 3 clubs who have been relegated this season – Hull City and Middlesbrough – were in the top 50% most prompt payers in the Premier League, paying in 10 days or less beyond agreed terms and have outstanding invoices to the value of less than £1,000.

Sunderland AFC, who finished bottom of the table in the 2017 season also find themselves at the foot of the Creditsafe Prompt Payment Premier League, paying its bills, on average, 25 days beyond agreed terms.

The most prompt payers of the Top Six clubs in the Premier League were, Tottenham Hotspur and Chelsea, paying their bills in 12 and 13 days beyond agreed terms respectively.

Noticeably, none of the Premier League Clubs pay businesses within the agreed payment terms. Middlesbrough and Swansea City topped the table for being the promptest paying football clubs in the Premier League, paying their bills just one day beyond agreed terms and 12 days under the industry average.

Rachel Mainwaring, Operations Director at Creditsafe UK said: “In recent years we have seen the emergence of a late payment culture in the UK. Even in the Premier League, with all the money that is available to its top clubs, late payment is rife. This is a problem for businesses dealing with the wealthy premier league clubs, who find themselves with a potentially dangerous financial shortfall.

“As this year’s Premier League season comes to an end, it’s interesting to see that lower placing clubs pay their bills the fastest. In fact, excluding Sunderland, it’s the top ranking clubs of 2017, with turnovers over £250 million, that pay the latest and finish in the relegation zone of our alternative premier league table.”
 
CCRI
3 October - Guoman Tower Hotel, Central London 

CCRInteractive, in association with Marston Holdings , is the largest and leading one-day conference from the publishers of CCRMagazine – a truly national and international event for the credit industry.

This landmark event allows delegates to: Learn best practice of how to increase profitable sales in today’s economy. Understand the key compliance issues and how they will impact upon you. Discuss the legislative and regulatory framework and how it will effect you. Consider the potential effects of Brexit on your business. Discover the latest innovations in the market to improve your collections. Motivate your staff to achieve ever improved results.

To book to attend in 2017, contact Stephen Kiely  or Alison Lucas. To find out more about being part of this landmark event, please contact Gary Lucas
CCRI 

 Forums International Ltd

Forums International Ltd

 Attendance at your first meeting is free of charge, and please quote reference 'CCR2016' to receive the special 10% discount off of your first annual subscription.

Find out more here.

latest issue

CCR Cover

The latest edition of CCR Magazine, the leading editorial publication in the UK credit industry, is out.

Read the latest issue online

The Credit Excellence Awards

Awards 

Tuesday 3 October - Guoman Tower Hotel, Central London


Do not miss your chance to meet and network with the Winners and Finalists at the Credit Excellence Awards, in association with Hoist Finance.


To book your place to attend, please contact Alison Lucas.


subscriptions

CCR is the premier magazine for consumer and credit professionals. It provides an independent voice to the industry, breaking major news stories and running in-depth features.

As a magazine, it works with and campaigns on behalf of the credit industry to promote its importance as a centre of potential profit and business development to the wider business world.

Subscribe to CCR Magazine

CCR World Magazine


 

Providing information and analysis for thousands of senior credit professionals worldwide, every quarter.

Find out more

GTS Media Ltd
81 Cambridge Road
Southend-on-Sea
Essex
SS1 1EP

Registered in England No: 05483197