Adam Crockett on the IFR and Football Boards

What should you ask before joining a football club board when the owner funds the losses? On The Boardroom Path, Ralph Grayson speaks with Adam Crockett, director of Game Plan Strategic Advisory and senior adviser at Alvarez & Marsal, about football governance and the role of independent directors. Adam helped develop the Football Governance Act and advised the Independent Football Regulator’s chair and chief executive. He explains how the licensing regime asks clubs to consider financial risks, governance and the plans they have for difficult scenarios. The regulator’s draft State of the Game report found that 94% of clubs across the top five English leagues were loss-making before tax in its 2025/26 dataset, which combines actual and forecast information. Adam discusses why a board should look beyond league spending rules to liquidity, owner funding and longer-term sustainability. They also consider how to challenge an owner, assess the skills a club needs and consult supporters. For prospective NEDs from outside football, Adam explains which governance skills transfer and why understanding the game’s economics is essential. (00:00) - Welcome to The Boardroom Path (02:54) - Why Football Governance Is Changing (06:10) - Licensing and Financial Risk (09:49) - The State of the Game (13:50) - Skills Beyond Finance (17:26) - Long-Term Planning and Sporting Results (20:03) - Challenging the Owner (23:39) - Testing Owners and Directors (26:46) - Regulatory Scrutiny and Intervention (29:23) - Due Diligence Before Joining a Board (32:42) - Questions Behind Sporting Decisions (35:03) - Fan Engagement and Club Heritage Adam Crockett: Adam Crockett is director of Game Plan Strategic Advisory and a senior adviser at Alvarez & Marsal. At the Department for Culture, Media and Sport, he helped develop the Football Governance Act and its implementation. He subsequently advised the Independent Football Regulator’s chair and chief executive. His earlier work covered economic regulation, competition policy and enforcement, including at Ofgem. Adam also advises Football Beyond Borders and serves on its audit and risk committee.Ralph Grayson: Ralph Grayson is a Partner in the Board Practice at Sainty Hird & Partners, bringing extensive experience in board-level recruitment, assessment, and advisory services. With a deep understanding of the corporate governance landscape, Ralph specialises in guiding senior executives as they transition into impactful boardroom careers. His thoughtful approach, combined with a passion for developing effective leaders, enables him to facilitate insightful conversations that equip aspiring and newly appointed Non-Executive Directors with the tools they need to succeed. Through The Boardroom Path, Ralph leverages his extensive professional network and expertise to empower listeners on their journey into the boardroom. Episode Insights: League spending compliance and a sustainable business plan answer different questions. Boards need to test both. Liquidity, debt and reliance on owner funding deserve scrutiny before a club encounters financial distress. Independent challenge works best when it is part of the board’s culture and connected to a shared strategy. Directors do not need to select players, but they can question the financial consequences if a signing does not deliver the expected result. Football experience is not a prerequisite for a board role, though understanding the economics and supporters is essential. Action Points: Test the funding plan: Review cash forecasts and the club’s reliance on owner support. Ask what happens if that funding stops or is delayed. Discuss what steps the board could take before cash becomes critical. Stress-test the strategy: Ask management to model outcomes beyond the expected league finish. Consider the effect of relegation or a major decision that does not pay off. Agree how the club would respond and revisit the assumptions regularly. Check the scope for challenge: Before accepting a seat, discuss how the owner responds to inconvenient advice. Ask how directors obtain the information needed to scrutinise decisions. Look for evidence that the board can challenge as well as support the owner. Map board skills: Compare the club’s objectives and risks with the experience already around the table. Identify gaps in areas such as finance, governance or commercial development. Decide whether to recruit a director or obtain specialist external advice. Plan supporter engagement: Identify decisions on which the club needs to consult fans. Explain proposed changes and listen to the responses. Tell supporters how their feedback informed the decision and why the board reached its conclusion. The Boardroom Path is the essential podcast for aspiring and newly appointed Non-Executive Directors (NEDs) navigating the journey from executive leadership to the boardroom. Hosted by Ralph Grayson, partner at Sainty Hird & Partners, each episode offers insightful conversations with industry leaders, seasoned board directors, and governance experts. Our guests share practical strategies, valuable perspectives, and actionable advice on how to effectively transition into board roles, maximise your impact, and build a rewarding NED career.  Subscribe now, and take your first confident step along The Boardroom Path. Learn more about Sainty Hird & Partners at saintyhird.com. The Boardroom Path is produced by Story Ninety-Four in Oxford, UK.