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Premier League clubs owe banks over 3 billion pounds

The 20 Premier League clubs owe a total of £3.1bn in bank overdrafts, loans and other borrowings, according to the latest published financial information, reports The Guardian. The accounts for the clubs, mostly document the year to May, June or July 2008.

Manchester United and Chelsea were by far the most indebted, owing £699m and £701m respectively, Arsenal were third, with £416m debts and Liverpool, the other top four club, were understood to owe around £280m; their accounts, due to be filed at Companies House last week, are overdue.

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