Top 10 football clubs with most debt as of 2023

Published at :August 27, 2023 at 12:20 AM

Modified at :January 13, 2024 at 6:26 PM

Debt and football always go hand in hand

Football is a sport with a lot of financial benefits, but on the other hand, it is expensive to run, especially at the club level. Clubs regularly owe money to banks, other teams, players, employees, and businesses that provide them with products and services.

There are many different types of debts, ranging from huge to lesser ones, as well as those that will be paid in the short term or the long term. Europe’s Top Five leagues alone owe over €7.5 billion in bank debt as well as €2.5 billion to internal lenders, for a total of over €10 billion in liabilities.

The presence of four Italian clubs in the top 10 clubs with the most debts lays bare the dire financial situation of the top Serie A sides.

10. AS Roma – €208m

Talking about Italian cubs, AS Roma faced FFP sanctions from UEFA in the 2022–23 season, with the governing body withholding €5 million of their prize money from their run in this season’s Europa League.

Roma’s debt stands at around €208 million, and even with Champions League football, that figure will remain relatively high next season. Last season, Paulo Dybala and Nemanja Matic arrived on free deals, as did Gini Wijnaldum after spending a season at PSG.

9. Juventus- €209m

The Old Lady has some of the best talents in Serie A and the world of football, and they always splash cash on players when necessary. They recently won their appeal against a points deduction due to a financial scandal.

They are one of the biggest clubs with the highest bank debts; although a capital injection of €400 million in 2021 helped them with their finances, they still owe €209 million.

8. Galatasaray- €222m

Galatasaray’s debt in today’s world is because they have overspent on player transfers and salaries, and a lack of success in European football has added to the debt. They have been struggling with financial problems due to the nationwide financial crisis and, most importantly, COVID-19. The club’s debt is €222m right now. However, the highest-paid players in the Turkish league play for Galatasaray.

7. CSKA Moscow- €224m

CSKA Moscow, one of the best clubs to come out of Russia and known for its ability to disappoint the heavyweights of Europe, has been a regular contestant in UEFA competitions, but Russia’s war against Ukraine has affected the club so much. After the war, Russian clubs were not allowed to participate in UEFA competitions; this caused players to depart for free, and the club’s debt has been rising since then.

6. AC Milan- €249m

AC Milan were among the most indebted clubs in 2022, but their recent performances on the pitch and a change of ownership have turned their fortunes around. There was a time when AC Milan used to be one of the richest clubs in the world.

Under the guidance of head coach Stefano Pioli, the Rossoneri won the Scudetto trophy in 2022 and ended their Serie A campaign with a top-four finish. Lots of young players have been signed for significantly low wages.

5. Queens Park Rangers- €279m

In October last year, they were top of the EFL Championship, but they finished the season in the bottom half of the table, just points above the relegation zone. The club published its annual financial report for 2022, which showed they lost a lot of money.

QPR is moving positively in the right direction after not spending a penny on transfer fees in the last two transfer windows, which perhaps indicates that the club is already looking to address its terrible financial situation.

4. Valencia- €285m

Valencia are one of the biggest football clubs in Spain, but they are in crisis right now. After Peter Lim bought the club in May 2014, there have been a lot of managerial changes, indicating that they have been struggling.

Talking about struggling, they face their third consecutive season without European football, and their three best players become free agents this summer. The club has to complete almost €40 million worth of outgoing transfers this summer just to balance this year’s budget.

3. Inter Milan- €306m

Inter Milan have the highest debt in Serie A, with the club owing the most in the Italian top flight. The club is paying a hefty price under the Chinese businessman. All their spending helped to improve Inter’s performance on the pitch, earning them their first domestic title in 11 years in 2021.

In 2021, the club took out an emergency €275 million loan from Howard Marks’s Oaktree Capital to cover its finances. The team is looking for new investors as interest rates are spiking and the debt is due in just over a year.

2. Benfica- €336m

Benfica are one of the best teams in Portugal, with numerous achievements and trophies. Benfica reached the Champions League quarterfinal last season, and their ability to qualify for the Champions League is remarkable.

The Eagles always sign the best players to compete with Porto and Sporting in the Portuguese league; recently, they signed their main man, Angel Di Maria, who has already played for the club before rising to the European stage. In 2021, their president resigned following an investigation into tax fraud and money laundering.

1. Manchester United- €536m

Manchester United generate a lot of revenue through various means, and the Red Devils have always spent lavishly in the transfer market. They are one of the top football clubs with the highest wage bills in Europe.

Their debt increased after a financial report in 2022 indicated that there was a significant jump. Even though the club’s owners are willing to listen to offers to sell the club, the Glazers are not ready to give up their ownership.

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