This can sometimes be resolved it by defragmenting the hard drive.
Open and run Disk Defragmenter by doing the following:

Windows XP

1: Start > My Computer
2: Right Click the local Disk that contains the FM2011 installation.
3: Go to Tools tab > Click "Defragment Now..."
4: Click "Analyze"
5: Click "Report" – Check to see if the saved game that is not loading is listed as having missing fragments.

If it does have missing fragments then move the save to an external source (USB Memory Key, External Hard Drive) and try loading the game from there. If the game works from the external source then running a full Defrag on the Drive should allow you to load it again. If not then your game is probably corrupted.

Windows Vista and Windows 7

1: Start > Computer
2: Right Click the local Disk that contains the FM2011 installation.
3: Go to "Preferences" > Click "Tools"
4: Click "Check Disk"
5: Click "Start"

If the Save Game was showing any missing fragments then try to load the game again as Check Disk would have attempted to fix the problem. If that does not work follow the steps from Windows XP. Copy the file to an external source and attempt to run it from there. If successful defrag the Hard Disk and then try again.

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If this doesn't solve the issue, try this:

Delete the following folder:

XP: Cocuments and Settings\Application DataSports InteractiveFootball Manager 2011settings

Vista: C:Users\AppDataRoamingSports InteractiveFootball Manager 2011settings

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Good luck!