10 May 2010Scudamore defends English Premier League model

Football Finance News | Football Leagues/ Association and Governance

Controversial English Premier League chief Richard Scudamore has rejected criticism of his handling of the division's finances.

Despite recently-relegated Portsmouth heading into the FA Cup final burdened by arrears of £138 million and Manchester United fans protesting against their club's £720 million debt, Scudamore is adamant that his tenure has been "progressive" for English football.

Speaking to the Guardian, he admitted that global perceptions of leveraged buyouts like those of Manchester United and Liverpool are negative, but added: "It's an accolade that you're that valuable that you can attract that much borrowing against it."

Scudamore also paid tribute to Tottenham Hotspur, pointing to the side as "an extremely well-run club", but was quick to point out that less successful teams are ultimately responsible for their own management.

Last week, it was reported that Liverpool - who missed out on UEFA Champions League qualification - lost a further £54.9 million during the year ending July 2009, bringing their total debt to £472.5 million.

Written by Tom Jenkins

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