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
FIFA Sets Meeting to Discuss Qatar 2022    
FIFA has said it will step up the search for new dates to play the 2022 ...
Poll: Fans Think Real is Weaker Than Last Season    
According to a poll conducted by Spanish daily AS, Real Madrid fans think their team is ...
Last Minute Deals for Cleverly, Falcao, Welbeck Completed    
Tom Cleverly on Tuesday completed a season-long loan switch to Aston Villa from Manchester United, despite ...
Report: EPL Clubs Spend Close to $1.4 Billion on Summer Transfers     
English Premier League teams smashed the previous record for spending during the summer transfer window after ...
Several World Cup Stars to Miss Final Rematch     
Lionel Messi is one of four injured Albiceleste stars for the World Cup final rematch between ...
Ronaldo: I Can't Say What I Think About Real's Transfers     
Cristiano Ronaldo, who missed Real Madrid's shock 4-2 defeat at Real Sociedad with a lingering knee ...
Ancelotti: Attitude to Blame for La Real Loss    
Real Madrid coach Carlo Ancelotti rejected suggestions that Xabi Alonso's departure to Bayern Munich was to ...
Creighton shuts down Jordan Morris    
No. 24 Creighton got goals by freshman Ricky Lopez-Espin and Fabian Herbers to beat No. 13 ...
Redknapp to Sign Two-Year QPR Extension    
Despite losing his first three games of the season, Queens Park Rangers coach Harry Redknapp revealed ...
Hernandez, Juve Agree Personal Terms    
The Corriere dello Sport on Friday reported that Juventus has agreed personal terms with Manchester United ...
>> Section 2 Around the Net Archives