Football League chairman Lord Brian Mawhinney has issued a stark warning about club finances.

With Southampton FC's parent company having gone into administration, fans have been warned that the the future of the club is in 'serious jeopardy', but with the wider economic crisis set to deepen, Saints are unlikely to be the last bad news story.

Lord Mawhinney told BBC Radio Lincolnshire: "Could we lose a club? Yes, we could.

"Am I expecting to lose a club? I don't know because they don't tell us what their finances are."