IFR sets out scope of groundbreaking State of the Game report

· Independent, wide-ranging review to map out critical influences on the English game in unprecedented detail

· Analysis will cover issues such as broadcast revenues, player wages, club ownership, financial distributions and academy development

The Independent Football Regulator (IFR) has today set out the proposed scope of its first in-depth analysis of men's professional football in England.

The State of the Game report will delve into how money flows through the football pyramid; the strength of clubs' balance sheets; and the opportunities, challenges and risks to the nearly £8 billion industry.

It will be the first time any study has investigated the main issues affecting English football in this level of detail, with the IFR able to utilise statutory powers to access the information it needs from clubs and competition organisers.

This includes issues such as club debt and liquidity, models of ownership, the evolving broadcast landscape, and the impact of player wages and academy development on the financial sustainability of the game.

David Kogan, Chair of the Independent Football Regulator, said:

"The game has never been examined like this before. For the first time, we will shine a light on the financial pressures, governance gaps, and structural risks facing the football pyramid.

“The State of the Game report will give football the clarity it deserves, so decisions by the IFR can be made with confidence and for the long-term."

The State of the Game report’s terms of reference will be subject to a four-week consultation, which has opened today. These show how the IFR will provide an independent, evidence-based review and analyse key issues affecting the financial health, resilience, and governance in the pyramid.

The report will also highlight the state of play in relation to Equality, Diversity, and Inclusion (EDI), fan engagement and heritage, including a review of existing protections for club stadiums, crests and colours.

Richard Monks, Chief Executive of the Independent Football Regulator, said:

"The State of the Game report will be the most in-depth assessment of the football industry ever conducted. It will help the IFR to scrutinise decisions, challenge existing practices, and ensure clubs meet expected standards.

“Clubs, investors, and fans will see clearly where the game is thriving — and where action is needed.”

The report will examine how financial flows within the game have changed, any cliff-edges that have developed between or within leagues, and their impact on the wider football ecosystem.

Club governance will be assessed, including internal controls and decision-making processes, with analysis being used to understand how clubs manage these risks and respond to financial pressures such as debt ratios and day-to-day liquidity.

Since summer 2025, the IFR has engaged with clubs, competition organisers, academics, and industry experts to understand the key trends and challenges in the game and will build on this as it begins to compile the State of the Game report.

In line with its statutory requirements, the IFR is seeking input on what should be covered in the State of the Game terms of reference and will then produce the report on English football. The IFR will publish a draft report later this year, ahead of a final report set to be published in 2027.

The IFR is inviting clubs, fans, competition organisers, and industry stakeholders to share their views on the report’s proposed scope in the consultation, open until Tuesday 17 February.

Notes to editors:

· The State of the Game terms of reference can be found here. Topics such as ticket prices and Video Assistant Referees are outside this scope.

· The IFR has previously published consultations on its Owners, Directors and Senior Executives test here and its Licensing Regime, which can be found here.

· The IFR’s guidance on Information Gathering and Enforcement regime can be found here and its Sanctions regime can be found here.