Portsmouth are on the verge of becoming the first Premier League club to go into administration, and if many fans fears are to be believed Pompey may not be the first to go.
Manchester United, Arsenal, and Liverpool are all under the heavy weight of massive debt. Such is the level of debt in the Premier League that it makes up 56% of all the debt in European football, some £3.5 billion.
The really shocking indictment of that ludicrous figure is that the traditional top four Chelsea, United, Liverpool, and Arsenal own almost £2 billion of that total figure. Meaning that just four clubs own 36% of all the debt in Europe...
It is something that Michel Platini and UEFA are trying to clamp down upon. There has been one of these English teams in every one of the Champions League Finals since 2004.
Obviously UEFA feel that the EPL teams enjoy far greater freedom to run into debt, and that the EPL as a management body are happy not to police the sector as it brings much more coverage to the league.
Here are the annual accounts for every single Premier League team.
Read them and weep...
