February 24th, 2010 by admin

A UEFA reports states that English Premier League clubs owe more money than all the other clubs in Europes top divisions put together. The report calculates the total debts of just 18 Premier League clubs at just under 3.5 billion dollars, around four times the figure for the next most indebted top division, Spain’s La Liga.

The Premier League generates much more money from television and other commercial income than any of it’s rivals, 122 million euros on average at the 18 clubs, with the next wealthiest being the German Bundesliga, whose clubs made an average 79 million euros.

Yet despite a great 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.