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
The case for more female coaches in youth soccer    
Nicole Farley, who coaches at Southern California's Laguna United SC and Dana High School, says "I ...
Nasri to Miss a Month Following Surgery     
Manchester City midfielder Samir Nasri will miss a month after having groin surgery over the weekend. ...
Herrera Out as Man United Injury Crisis Worsens    
Manchester United midfielder Ander Herrera will be out for "weeks" with a fractured rib in yet ...
Giroud Signs Gunners Extension    
Goal.com reports that injured Arsenal striker Olivier Giroud has signed a two-year contract extension with the ...
Defender Helped Finance Barca Move    
Barcelona defender Jeremy Mathieu on Monday confirmed that he paid three million euros out of his ...
Man United Mulls Midweek Friendlies Abroad    
The BBC reports that Manchester United is thinking about playing potentially lucrative midweek friendlies abroad since ...
Cole 'Never Expected' to Play Against Lampard in UCL    
AS Roma defender Ashley Cole said he was surprised to come up against former Chelsea teammate ...
Luis Suarez Ban Upheld in FIFA 15     
Barcelona striker Luis Suarez is not currently playable in the "career mode" of FIFA 15, the ...
Simeone: Juve a 'Final'    
It may only be Matchday 2 of the UEFA Champions League, but Diego Simeone is already ...
Report: Pardew's Job Safe-for Now     
Newcastle United is currently 19th in the Premier League table and winless in six games so ...
>> Section 2 Around the Net Archives