Analysis by BBC Radio 5 Live has found that the total club losses in the EFL Championship in 2017-18 were at a record high.
Fans at Sheffield Wednesday have been talking about what they think the Championship has become.
"There's more money being spent in football than is coming into football, it’s not sustainable,” said James Marriot, from ‘The Wednesday Week’ podcast. "It can’t continue like this. At some point it's got to stop, it will collapse."
Fans also reflected on their own club's situation. The Owls were charged with misconduct by the EFL in November 2019 after an investigation into the sale of Hillsborough, which the EFL allege helped them stay within loss limits. The EFL charges are now being considered by an independent disciplinary commission and if proven the club could face a significant points deduction.
Chris McClure from the 'Owl Sanctuary' podcast said the threat of a points deduction means the enjoyment of going to a game has been "zapped out before I've even entered the ground".
Sheffield Wednesday have denied the EFL's claims, calling the charges unlawful, and have said they may seek compensation.
Film by Dan Brennan.