Portsmouth chairman Michael Eisner has issued stark warnings about a looming financial catastrophe in the Championship after Pompey revealed a £4.36m loss for the 2024-25 financial year. The former Disney CEO believes English football has become dangerously imbalanced, with Premier League wealth masking problems below.

Eisner's warning follows a troubling trend across the Championship, where Hull City reported a £41.7m loss and Coventry City revealed £21.6m in red ink. Every single club in the Championship lost money last year, with combined operating losses of £411m in 2023-24, creating an unsustainable financial model.

"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," Eisner stated. He called for effective player salary cost controls, fairer distribution of media revenues, and more advanced commercialization of broadcast products to protect the game.

The financial crisis facing English football's second tier has reached critical proportions, with clubs hemorrhaging money at unsustainable rates. Without structural reforms from the top down, the Championship faces a genuine threat of widespread collapse that could devastate communities and the historic clubs that serve them.