The transfer window is currently open and most football clubs are doing all they can to strengthen their squads and please their fans ahead of the new season.
However, while some clubs are on a spending spree trying to convince talented players to join and help them win titles, others are doing their business carefully not to break financial fair play rules or increase the amount of debt they have accumulated.
Debt can land a football club into financial crisis, especially if the management fails to develop a repayment strategy. For example, one year ago, La Liga giants FC Barcelona were forced to part ways with their former forward Lionel Messi due to mismanagement which led to the club’s escalating debt.
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Below are the top 10 European clubs that had the most debt as of June 24, 2022. All figures are courtesy of GiveMeSport as per Deloitte’s annual report.
FC Barcelona - €1.35b (Ksh162 billion).
Juventus FC - €900m (Ksh108 billion).
Tottenham Hotspur FC - €826m (Ksh99 billion).
Inter Milan - €702m (Ksh84 billion).
Ac Milan - €666m (Ksh80 billion).
Real Madrid – €662m (Ksh79.5 billion).
Arsenal – €625m (Ksh75 billion).
Manchester United – €577m (Ksh69.3 billion)
Atletico Madrid – €523m (Ksh62.8 billion).
Liverpool – €386m (Ksh46.4 billion).
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Recently, English pundit Gary Neville took to social media to criticize Manchester United owners for putting their interests before that of the club in spite of the huge debt.
“The Glazer family should not be taking £11m in dividends this Friday. It isn’t right with the investment needed in the team, stadium and training ground.
“The club's cash position is low compared to previous years. An announcement is needed to halt it for the next 3 years minimum,” read his Twitter statement.
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