English Football Clubs Face Heavy Debts

“The full extent of the debts engulfing English football has been laid bare in a report that shows Premier League clubs are carrying more debt than the rest of Europe’s clubs put together. The findings are contained in a study from European football’s governing body into the state of football’s finances and come as the Premier League’s bottom club Portsmouth FC prepares to file for administration—a form of bankruptcy protection—on Friday as a result of debts of roughly £70 million ($105.5 million).” (WSJ)

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