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Wigan Athletic - Are the Wolves at the Door

With the credit crunch biting hard on the backsides of the worlds financial institutions the Premier League is living in fantasy land if they think that they will remain untouched by a situation that is sending FTSE and other financial index`s on a downward trend that is only matched by that of Derby County.

Last week not only were banks facing bankruptcy but a whole country, Iceland, was seen heading for the county court to declare itself insolvent, so what chance and what debt do the 20 clubs that make up the Premier League have, lets take a look.

Arsenal are 268 million in the red but have more than enough assets to cover this, the development of Highbury is still going ahead and this with gate receipts from the Emirates should keep the wolves from the door.

Aston Villa have a debt of 67 million but again they have assets including Villa Park and a wealthy chairman who has been relatively unaffected by the current crisis.

Blackburn Rovers are 20 million in debt but the trust set up by former chairman Jack Walker means there is plenty of cash to call on if needed, the Rovers are financially secure.

Bolton Wanderers 43 million in debt and backed by a local man in Eddie Davies, no immediate worries

Chelsea are an astonishing 800 million indebted to benefactor Roman Abramovich, now whether he would call this debt in at any time is debatable but still a worry, contrary to reports Abramovichs fortune is relatively untouched by the current crisis


Abramovich has still got a few quid

Everton have been in financial trouble for years it seems though they currently are 66 million in the red an 11 million increase on last year, with plans for a new stadium likely to be put on hold for the time being chairman Bill Kenwright keeps the club stable

Fulham have the financial backing of Mohamed Al Fayed but still find themselves 161 million away from being solvent

Hull City are a club with a bright financial future, Chairman Paul Duffen has insured that they have no loans and being debt free gives the club stability to build upon

Liverpool find themselves 350 million in the red with a huge loan needing to be paid off, these are worrying times for the red half of Merseyside.

Manchester City became the richest club in the world overnight last month and they still are; no financial worries at Eastlands

Manchester United are arguably the biggest club in the world and despite having debts totaling more than 650 million would still be able to attract buyers and investors.

Middlesbrough owe their 80 million debt to owner Steve Gibson who is unlikely to call the money in, safe for the time being though a reported 40 million per year wage bill is causing a bit of uneasiness on Teeside

Newcastle United are 160 million in debt and owner Mike Ashley is desperately trying to sell the club, he has just lost 300 million in HBOS shares

Portsmouth were the subject of much speculation recently about the size of their debt which is currently at 60 million but they are expecting a 25 million loss this year, worrying times at Fratton Park

Stoke City are owing just 7 million, the price of a couple of transfers

Sunderland owned by an Irish consortium and at present are showing 35 million in the red.

Tottenham Hotspur showing just 17 million debt but owner Joe Lewis recently lost 300 million in the Bear Steams collapse, reportedly looking for a buyer

West Brom are just 2 million in the red, sound financially

West Ham United, whoops, owner Bjorgolfur Gudmundsson lost his fortune when troubles hit Iceland last week now the Hammers need a buyer and quick, reports suggest they have four weeks or could go into administration

Wigan Athletic are 20 million in debt but this has been reduced from 54 million last year so going in the right direction, benefactor and Chairman Dave Whelan has worked financial wonders at the club and it is rumoured that Korean giant Hyundai are due to announce a major sponsorship package for the Stadium and shirt sponsoring rights of the Latics


Dave Whelan keeping the Latics bankrolled

Vital Latics - Keeping it real, well almost

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The Journalist

Writer: worbo Mail feedback, articles or suggestions

Date:Sunday October 12 2008

Time: 6:54PM

Your Comments

Latics are definately going in the right direction with the debt being reduced to just 20 mil from 54, but there could be trouble ahead for West Ham
worbo
161m at Fulham!
eh?
Makes sorry reading for some clubs Im afraid
worbo
I'm not entielry sure what to think of pompey's financial situation - "reports" keep coming out suggesting we are loosing money, have 60 million of dept, we will loose a further 30 million this year, and we are up for sale as sascha is trying to get out quickly. meanwheile, the club say everything is fine and lovely, and nothing is wrong...
pompeycarpet
Villa's debt is owed to the Lerner Foundation, a charity fronted by...whoops...Randy Lerner. Essentially speaking...RL owes himself money that you've quoted as club debt.

It's a nice try to put everyone in the same debt as you, but fails miserably!
murph
"Bill Kenwright keeps the club stable" Well actually we've just had to take a 30 million loan out to avoid going under just last month. Of the players we bought we only paid 3mil towards fellaini so far, and nothing for the rest yet. We sold Faddy for 6, Aj for 11, and all the Sky money. And managed to spend 3 million lol. Around 85 million is unaccounted for since January. So you can add that onto our 65 million debt you have written above.
EvertonMike
yeah Latics are definately going in the right direction !!
honduranfan
Murph is right, Villa have no debt at all on the club.
The Fear
Latics have no debt on the club, it's owed to Whelan, but have still knocked 32m off it in two years.
eh?
Whelan made a shewd move to sell his JJB shares when he did, considering the value of them seen the credit crisis really kicked in.
frags
Glad Whelan is our chairman, proud infact. He has us at heart
Jonni_G
 

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