Supply chain Praseeda Nair · 24 May 2017
Premier League suppliers chase 1.3m in overdue payments from top football clubs
Premier League clubs are withholding 1.3m in overdue invoices to suppliers, according to new figures that reveal a troublingculture of late payments in English football. The Prompt Payment Premier League, compiled by Creditsafe, revealed 20 per cent of supply chain payments were at least three weeks late of the due date. In a damning indictment of payment practices in the top tier of English football, not a single club paid invoices ahead of agreed terms. Swansea and Middlesbrough topped the table, paying suppliers one day beyond the invoice deadline, and 12 days before the industry average. Of the country’s biggest clubs, Manchester United performed most poorly. The club’s 63 overdue invoices totalling 857, 183 accounted for two-thirds of all late payments to Premier League suppliers. However, Sunderland and Arsenal stretched invoice payment the longest, paying suppliers an average 20 days beyond the agreed date. Of the Premier League’s top six clubs, Tottenham Hotspur and Chelsea paid suppliers most promptly, 12 and 13 days beyond agreed terms respectively. Commenting on the suffering of Premier League suppliers, Rachel Mainwaring, Creditsafe UK operations director, said a late payment culture? had emerged in recent years in football. even in the Premier League, with all the money that is available to its top clubs, late payment is rife, she said in a statement. this is a problem for businesses dealing with the wealthy premier league clubs, who find themselves with a potentially dangerous financial shortfall. As seen at the top of the payment league, the data revealed a curious trend for smaller clubs to adopt better supply chain practices.
ABOUT THE EXPERTPraseeda Nair
Praseeda Nair is an impassioned advocate for women in leadership, and likes to profile business owners, advisors and experts in the field of entrepreneurship and management.