2 Jun 2009Some £3.1 billion owed by English Premier League clubs

Football Clubs News | Football Finance News

A combined £3.1 billion is owed by teams in the English Premier League, according to the latest published financial information.

The Guardian reports the details, with the so-called 'big four' responsible for a large chunk of what is owed.

Chelsea and Manchester United owe the most by far, with the reigning English Premier League champions owing £699 million and the London club in debt to the tune of £701 million.

Meanwhile, Arsenal are next with debts of £416 million, while Liverpool are believed to owe around £280 million as their accounts are yet to be filed.

However, there are stark differences to the way that these debts have been occurred.

United's debts are primarily the cause of the Glazer family borrowing money to buy the club in 2005 and then adding their own personal debts to the club.

Whereas Chelsea owe no money to any banks, as their debt is in the form of an interest-free loan from chairman Roman Abramovich.

Chelsea could only finish third in the English Premier League, but did win the FA Cup following a 2-1 win over Everton.

Written by Paul Roberts

© Copyright