Virgin Money claims that, football clubs are likely to become the latest casualties of the credit crunch.
Their latest figures show that as many as 25 per cent of supporters will not be able to afford the ticket prices this year. The Football Fans Inflation Index - which has tracked ticket costs since January 2006 - has found that the average price of going to fixtures has increased 21 per cent in the past three months, taking the typical game pass cost to 106 pounds and 21 pence. Virgin Money pointed out that this is the first time that the average ticket price has breached the 100 pounds barrier.
Following on from this rise, 26 per cent of football fans questioned by the group said they would have to cut back on the number games they go to in an effort to limit the financial burden of following their favourite team.
Supporters who are committed to showing their vocal and financial support to their club may be interested in taking out a personal loan to cover the costs of a season ticket.
The latest study by the firm indicated that both the "never miss a match" and the more casual fans are being affected equally, even those with season tickets are saying that they do not expect to attend as many games this season to avoid related costs, even though the tickets are paid for.
Commenting on the trend, Virgin Money representative Scott Mowbray, explained: "Football often seems immune to the real world, existing on its own Planet Football where there is always money for player transfers and salaries and the cash keeps on flowing from TV and sponsorship deals. Unfortunately, supporters still have to live in the real world and the last 12 months has seen several significant rises in their running costs due to increased mortgage charges, and lore expensive food and fuel. But with merchandise and rail fares also on the rise something has to give and obviously keeping a roof over your head and keeping your house warm outranks going to football matches."
Meanwhile, Malcolm Clarke, chairman of the Football Supporters Federation, said that the results of the study are very worrying news for football clubs as live attendance revenues are the "lifeblood" of the industry. However, he did concede that in difficult financial circumstances, it was unsurprising that fans were feeling that going to games is a cost they cannot afford. He warned that clubs which raised their ticket prices above the rate of inflation may soon be hit hard by a drop in visitor numbers because of their failure to take into account the financial limits of their fan base.
For those who are keen to attend football matches in person, taking out a personal loan may prove an effective way to keep up support while still managing to meet other areas of financial commitment. Choosing this form of loan could be useful to football families as Virgin Money's latest figures show that a majority of parents are struggling to afford tickets for their kids.
