Karl Baxter
Guru
- Joined
- Jan 9, 2009
- Messages
- 128
I found an article dated Oct 2008 that has some interesting numbers on the Premiership's shakey finances:
[url]http://www.liverpooldailypost.co.uk/sport/liverpool-football /2008/10/09/the-dominance-of-debt-laden-premier-league-clubs -in-europe-will-soon-come-to-an-end-as-the-global-financial- crisis-takes-hold-according-to-a-leading-football-finance-ex pert-64375-21996733/[/url]
Professor Tom Cannon, a football finance expert from the University of Liverpool, estimated Premiership debts at 3.5billion pounds, which he said was around 500 million pounds in excess of the then total market value of all the Premiership clubs. He also estimated the annual interest charges at 70-120 million pounds a year, and possibly up to 150 million, a figure which exceeds the profitability of the English Premiership.
"They owe more than they're worth and the interest payments alone exceed their profits - that position is just not sustainable," he said.
He also said that the Premiership was unique in this respect.
"No other league is as indebted at the Premier League and I would be surprised if the dominance that we now see was sustainable beyond the next season or two."
[url]http://www.liverpooldailypost.co.uk/sport/liverpool-football /2008/10/09/the-dominance-of-debt-laden-premier-league-clubs -in-europe-will-soon-come-to-an-end-as-the-global-financial- crisis-takes-hold-according-to-a-leading-football-finance-ex pert-64375-21996733/[/url]
Professor Tom Cannon, a football finance expert from the University of Liverpool, estimated Premiership debts at 3.5billion pounds, which he said was around 500 million pounds in excess of the then total market value of all the Premiership clubs. He also estimated the annual interest charges at 70-120 million pounds a year, and possibly up to 150 million, a figure which exceeds the profitability of the English Premiership.
"They owe more than they're worth and the interest payments alone exceed their profits - that position is just not sustainable," he said.
He also said that the Premiership was unique in this respect.
"No other league is as indebted at the Premier League and I would be surprised if the dominance that we now see was sustainable beyond the next season or two."