Sports company liquidations show Olympic legacy

Published on August 2, 2013 by Crawfords Accounting

A substantial reduction in company liquidations in the sports clubs and facilities sector demonstrates the legacy left by the Olympics, one year on from the Games.

Insolvency trade body R3 puts the overall reduction in sports company liquidations at 33%, a fall from 123 company insolvencies in 2011-12 to just 82 in 2012-13.

Liz Bingham, president of R3, says: “The legacy of London 2012 has attracted a lot of attention.

“It would certainly be a positive Olympic legacy if any burst of grassroots interest in sport were to be sustained and translated into financially healthier sports clubs and facilities.”

While the events of London 2012 were a one-off that is unlikely to be repeated for several decades, there is reason to believe that they were not acting entirely in isolation.

British sport as a whole saw a sizeable increase in success in 2012, and Ms Bingham suggests that a continued level of success could help to sustain the “feel-good glow” left by the Olympics.

With Andy Murray winning Wimbledon in 2013 and England exceeding expectations in the Ashes test cricket series, there could be plenty of reason to feel positive for sports-related businesses in the months to come.


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