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EPL Clubs' Debt at $5 Billion

England's Premier League clubs have run up a debt of 3.1 billion pounds ($5.01 billion), and the big four Manchester United, Liverpool, Chelsea and Arsenal -- are responsible for about two thirds of it.

The figures come from Deloitte's Annual Review of Football Finance, which suggested the big four, despite all having qualified for the lucrative Champions League the past four years, were $646.5 million further in debt than a year earlier.

The report showed that Premier League clubs received a total increase $569 million in broadcast revenue over the past two years but used more than $553 million of it on wages. EPL salaries increased by a record 23 percent to a total $1.94 billion, for the 2007-08 season, again making it by far the world's best-paying soccer league.

 

Read the whole story at Associated Press »

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