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Wigan Athletic - Are the Wolves at the Door

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

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Writer:Barry Worthington
Date:Sunday October 12 2008
Time: 6:54PM

Comments

0
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
12/10/2008 18:59:00
0
£161m at Fulham!
eh?
12/10/2008 19:36:00
0
Makes sorry reading for some clubs Im afraid
worbo
12/10/2008 19:55:00
0
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
12/10/2008 20:14:00
0
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
12/10/2008 20:23:00
0
"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
13/10/2008 01:22:00
0
yeah Latics are definately going in the right direction !!
honduranfan
13/10/2008 05:55:00
0
Murph is right, Villa have no debt at all on the club.
The Fear
13/10/2008 09:25:00
0
Latics have no debt on the club, it's owed to Whelan, but have still knocked £32m off it in two years.
eh?
13/10/2008 21:04:00
0
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
13/10/2008 21:22:00
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