Interesting article over at the Guardian about the finances and the World Cup.
A lot of people out there are struggling with debt. Many are even having to think about an IVA or bankruptcy because the situation has gotten so bad but how are the football teams doing.
The article goes on to say that an briefing my Commerzbank says that winning on the field might not have that much to do with the bottom line. They took from research of some 20 clubs in the Premiershop and that they have a combined debt of £3.1 billion and turnover of 1.8. This manes that the debt to income ratio is somewhere around 170%. Yikes! That is worse than the financial situation in Greece! No kidding, it actually is.
And it’s not just teams like Portsmouth, there are lots and lots of team struggling to get by.