The eye of the storm is the one place the tempest is calm.
But even though Lord Mawhinney believes the Football League over which he presides will survive the greatest economic threat the game has known, he admits the worst is yet to come.
The apocalyptic warnings of wholesale redundancies and clubs going out of business are the sort of doom-laden forecasts he has heard ever since taking the job when the League was still reeling from the ITV Digital disaster.
Yet while Mawhinney is confident there will still be 72 League clubs when the economic chaos eventually subsides, he does not try to pretend there may not be casualties on the way. I'm not sure everybody really has a sense of how bad things are and how hard they're going to get," he admitted.
"I've said to all the owners and shareholders that they've been protected from the worst of what's going on. They sold this season's tickets and executive boxes in the commercial market 12 months ago.
"But the world has changed hugely since then and it's over the next three months they will discover how much it's changed. What has happened so far is only the tip of the iceberg. I have told the clubs that I believe life will be extremely tough through to the end of the 2011-2012 season.
The Ulsterman added: "What I would say to every club is simple. If your attitude is that it can't happen to you, then you do not have a realistic business plan. This is the time to batten down the hatches. Directors must have realistic business plans.
"They have to control all their costs and of course wages are the single biggest outlay for most clubs.
"I've been exploring with owners and shareholders if they'd like to put in place some sort of limit on wages but different clubs take a different attitude. It's a dog eat dog world."
Financially, Mawhinney and his board have done plenty, increasing sponsorship deals for the Carling Cup and the Johnstone's Paint Trophy while the new BBC/BSkyB deal from next season will see more than a doubling of revenues to £88million per season.
That will work out at around £2.9m for each club in the Championship, £440,000 for League One sides and £300,000 for the teams in the bottom tier.
But Mawhinney admits the time for harsh decisions for football is here. He said: "Clubs are already under pressure so they have to think deeply about ticket prices.
EIGHT CLUBS IN TROUBLE
CHARLTON
Seemingly they are doomed to League One and with debts of around £21million.
SOUTHAMPTON
Under a cloud. A 10-point penalty now would kill off any chance of beating the drop.
STOCKPORT
Chief executive Sean Connelly last week placed an embargo on a statement about the club's plight.
CHELTENHAM
Manager Martin Allen has been told all his playing squad are effectively for sale now.
BOURNEMOUTH
A new consortium is attempting to take over.Players have only had 40 per cent of last month's wages.
LEEDS
Universally scorned, hated and reviled, for their sneering arrogance and have a twat for a chairman who is the personification of evil.
DARLINGTON
Already in administration over debts of £6m but need to average gates of 6,000 to break even.
CHESTER CITY
Look to be safer now with Liverpool-based property developer in the process of a buy-out.
But even though Lord Mawhinney believes the Football League over which he presides will survive the greatest economic threat the game has known, he admits the worst is yet to come.
The apocalyptic warnings of wholesale redundancies and clubs going out of business are the sort of doom-laden forecasts he has heard ever since taking the job when the League was still reeling from the ITV Digital disaster.
Yet while Mawhinney is confident there will still be 72 League clubs when the economic chaos eventually subsides, he does not try to pretend there may not be casualties on the way. I'm not sure everybody really has a sense of how bad things are and how hard they're going to get," he admitted.
"I've said to all the owners and shareholders that they've been protected from the worst of what's going on. They sold this season's tickets and executive boxes in the commercial market 12 months ago.
"But the world has changed hugely since then and it's over the next three months they will discover how much it's changed. What has happened so far is only the tip of the iceberg. I have told the clubs that I believe life will be extremely tough through to the end of the 2011-2012 season.
The Ulsterman added: "What I would say to every club is simple. If your attitude is that it can't happen to you, then you do not have a realistic business plan. This is the time to batten down the hatches. Directors must have realistic business plans.
"They have to control all their costs and of course wages are the single biggest outlay for most clubs.
"I've been exploring with owners and shareholders if they'd like to put in place some sort of limit on wages but different clubs take a different attitude. It's a dog eat dog world."
Financially, Mawhinney and his board have done plenty, increasing sponsorship deals for the Carling Cup and the Johnstone's Paint Trophy while the new BBC/BSkyB deal from next season will see more than a doubling of revenues to £88million per season.
That will work out at around £2.9m for each club in the Championship, £440,000 for League One sides and £300,000 for the teams in the bottom tier.
But Mawhinney admits the time for harsh decisions for football is here. He said: "Clubs are already under pressure so they have to think deeply about ticket prices.
EIGHT CLUBS IN TROUBLE
CHARLTON
Seemingly they are doomed to League One and with debts of around £21million.
SOUTHAMPTON
Under a cloud. A 10-point penalty now would kill off any chance of beating the drop.
STOCKPORT
Chief executive Sean Connelly last week placed an embargo on a statement about the club's plight.
CHELTENHAM
Manager Martin Allen has been told all his playing squad are effectively for sale now.
BOURNEMOUTH
A new consortium is attempting to take over.Players have only had 40 per cent of last month's wages.
LEEDS
Universally scorned, hated and reviled, for their sneering arrogance and have a twat for a chairman who is the personification of evil.
DARLINGTON
Already in administration over debts of £6m but need to average gates of 6,000 to break even.
CHESTER CITY
Look to be safer now with Liverpool-based property developer in the process of a buy-out.