Milan Mandaric calls on football authorities to review clubs' budgets

Milan Mandaric, one of Portsmouth's former owners, has called on the football authorities to review the budgets of clubs prior to the start of a season in an effort to prevent them going into administration. In light of the financial crisis that has engulfed Pompey this season, as well as Crystal Palace, Cardiff City and Southend, Mandaric believes the time has come for greater regulation and has put forward the idea of budget review committees. "At this point we only talk about administration, which is too late when the patient is dying. It's too late to help him," Mandaric told Sky News. "We need to do something before a season starts, to have certain committee that will organise and review our budgets and to be sure that if you're going to spend this money that we do have this money. Anything like that would be helpful." The Leicester City chairman, however, believes a salary cap is not a feasible way of preventing clubs running huge debts. "I'm not quite sure that it would work because it's a global business now football wise and it might be difficult," he said. "But there is definitely certain regulations that would help us to control the clubs and control our destinies. We don't have to invent anything. "Clubs will never disappear because they are owned by supporters and they have their hearts there with their clubs. They'll emerge again if they run into financial trouble."