Join Now | 
HomeAboutContact UsPrivacy & SecurityAdvertise
Soccer America DailySpecial EditionAround The NetSoccer Business InsiderCollege Soccer ReporterYouth Soccer ReporterSoccer on TVSoccer America Classifieds
Paul Gardner: SoccerTalkSoccer America ConfidentialYouth Soccer InsiderWorld Cup Watch
RSS FeedsArchivesManage SubscriptionsSubscribe
Order Current IssueSubscribeManage My SubscriptionRenew My SubscriptionGift Subscription
My AccountJoin Now
Tournament CalendarCamps & AcademiesSoccer GlossaryClassifieds
Billions in the red: English Premier League clubs
The Guardian, February 24th, 2010 4:05AM

MOST READ

MOST COMMENTED

An official report by UEFA, European soccer's governing body, calculated that 18 English Premier League clubs carried a combined debt of $5.4 billion. The report analyzes the 2007-08 annual accounts, the latest available, of all 732 clubs licensed by UEFA. The EPL debt was about four times the figure for the next most indebted top division, Spain's La Liga.

Only 18 EPL clubs are included in the report because two of the most indebted, troubled Portsmouth and West Ham, were not granted UEFA licences that year due to their financial difficulties. The Premier League made much more money from television and other commercial income than its rivals, but despite that commercial advantage, the 18 English clubs were hugely more reliant on borrowed money from banks and club owners than the 714 other clubs combined. "English clubs contain on their balance sheets an estimated 56 percent of Europe-wide commercial debt," the report says.

Manchester United and Liverpool's debts now add up to more than $1.5 billion collectively. Those huge debts were loaded on to the clubs by their U.S. owners' "leveraged" takeovers, yet despite the furore and mass supporter protests particularly over United's $1.1 billion debts, neither the Premier League nor FA have voiced any concern.

"Just over half of [the Premier League's] commercial debt has been placed into the [relevant] clubs [or at a holding company level] recently as a result of leveraged buyouts," the report says, "so far acting principally as a burden rather than to support investment or spending."

Read the original story...


No comments yet.

Sign in to leave a comment. Don't have an account? Join Now




AUTHORS

ARCHIVES
FOLLOW SOCCERAMERICA

Recent Section 2 Around the Net
Florida star Jordan exceeds expectations    
Savannah Jordan was the 2013 Soccer America Freshman of the Year and played for the USA ...
Reports: Bale to Miss Crucial Week for Real     
According to reports on Monday, Gareth Bale will miss a crucial week for Real Madrid after ...
Injured Lampard to Miss City's Trip to CSKA    
Frank Lampard was carried off on a stretcher as Manchester City beat Tottenham 4-1 at the ...
Report: Shakhtar Stadium Damaged in Ukraine War    
Shakhtar Donetsk's Donbass Arena suffered serious damage from gunfire on Monday despite the recent ceasefire agreed ...
Mourinho Swipes at National Team Coaches    
Chelsea coach Jose Mourinho took a swipe at Spain coach Vicente del Bosque on Monday, by ...
Bundesliga: Heaven for Bayern, Hell for BVB    
Pep Guardiola once again lavished high praise on Philipp Lahm after the Bayern Munich veteran put ...
Enrique Dismisses Messi Substitution Row     
Did Lionel Messi refuse to be taken off during Barcelona's 3-0 win against Eibar? No matter ...
Hart: Aguero "Useless" in Practice Sessions    
Sergio Aguero, Manchester City's four-goal hero against Tottenham on Saturday, is apparently "useless" at times during ...
Arena: 'We Need to Start Focusing on Playing'    
Bruce Arena suggested that Landon Donovan's long MLS goodbye has become a distraction following the Los ...
Platini: Blatter No Longer Serves Soccer    
UEFA President Michel Platini on Friday launched perhaps his most scathing criticism of FIFA President Sepp ...
>> Section 2 Around the Net Archives