The spectre of a deepening financial crisis is haunting top football clubs East Bengal and Mohun Bagan, so much so that they may find it difficult to raise their teams next season.

Overspending, scaling down of funds from sponsors, and administrative hiccups are seen as the main reasons for the dismal fiscal health of the two clubs.

Neither club has succeeded in clearing the dues of the players though the current season draws to a close on April 19. And the next season promises some trying times for their managers as the UB Group, which sponsors both Mohun Bagan and East Bengal, has decided to limit funding.

The sponsor is apparently unhappy with the lack of professionalism in the running of the two premier clubs. The UB Group is also upset with the authorities at Mohun Bagan for their failure to register McDowell's name with the team.

As a result, the liquor company is unwilling to increase for next season the Rs 15 million grant it gave the two sides this season. Moreover, it plans to end the practice of giving away a portion of the prize money won by the clubs. This year it allowed the clubs to use 20 per cent of these funds.

The payment crisis is threatening to go out of hand at least for Bagan. Nigerian defender Isa Musah has moved FIFA, the game's world body, against Bagan for holding back the last few instalments of his fees. The apex body has reportedly asked the club to clear his payments by April 18 or face a hefty fine.

The primary reason for the monetary crisis appears to be overspending on a few players. For instance, Mohun Bagan spent almost 70 per cent of its budget for acquiring the services of Indian striker Bhaichung Bhutia and Brazilian Jose Baretto.

The two teams, club sources said, had overshot their budgets by about Rs 5 million.

East Bengal sources said the UB Group had already informed the teams about its unwillingness to spend more than what it has this season. "In that case it will be difficult to raise a good team," they said. "Already, we have defaulted on the payments of players this year."

Payment restriction to the clubs also appear to be because of the company's belief that its business returns from sponsorship have not been encouraging even in terms of advertising mileage.