Is the Championship heading for financial 'catastrophe'?

Is the Championship heading for financial 'catastrophe'?Image source, Shutterstock/Getty Images/BBC SportImage caption, Portsmouth chairman Michael Eisner (left) has warned a disaster is looming for the Championship with Sheffield Wednesday and Leicester City in particular suffering financial turmoilByBen AshtonBBC Sport EnglandPublished5 minutes agoCommentsA total of £3bn and counting. That is also how much Championship clubs have lost in the past 10 years.To put it into perspective, for that amount you could buy a pie and a pint at a game 300 million times over.It would also get you about 760 properties in Mayfair in London - by far the UK's most expensive place to live.Alternatively, it covers the cost of 12,000 typical houses worth £250,000 - enough to fill a reasonably sized town.You get the idea.With two second-tier clubs still yet to submit their accounts for the most recent year, that figure will rise further in the coming weeks.Just three Championship clubs recorded a profit in 2024-25 and one of those, Stoke City, only did so because a £90m loan was waived by new owner John Coates to offset what would have otherwise been a £29m loss."No club can survive for the long-term in this system and if that continues, catastrophe will happen," warned Portsmouth chairman Michael Eisner."There are dark clouds hovering over the English football pyramid and it seems to me there could be a real collapse where only the Premier League survives."Pretty stark words from the 84-year-old former Disney CEO who, at Pompey, oversees one of the clubs which has spent considerably less than most others to have played in the division.So, has the financial bubble burst in the Championship? Or is it more a big balloon that has been slowly inflating towards popping point over more than a decade?Fewer people will be 'willing to subsidise football'Image source, Getty ImagesImage caption, Bristol City, owned by Steve Lansdown, have lost £111m in...