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Total debts in English soccer more than $4bn

(Agencies)
Updated: 2008-10-09 10:26

LONDON: FA chairman Lord Triesman on Tuesday said English soccer had total debts of more than 3 billion pounds ($4 billion) and warned of its danger to the well-being of the sport.

The four big clubs - Manchester United, Chelsea, Arsenal and Liverpool - are believed to account for about a third of that amount, he added.

Speaking at the Leaders in Football conference at Stamford Bridge, Triesman and Premier League chief executive Richard Scudamore voiced opposing views on the dangers of foreign ownership - one of the sport's most contentious issues - and whether the rules needed tightening up.

Triesman said: "Transparency lies in an unmarked grave. We now have a position where it is very hard to track things. It is not transparent enough and we don't know if we are able to track it, if the debt is held by people who are financially secure or not.

"More and more clubs are in trouble, with a number of owners leaving abruptly."

Reacting to FIFA president Sepp Blatter's outburst that buying a football club was now just as easy as buying a replica shirt, Triesman said he had a point.

"It is certainly true that fans are apprehensive if their club is touted around in the market place. You can't have a complete disregard for people's passion for their club."

Without mentioning any club by name Triesman said the Premier League's fit and proper persons test needed an urgent review.

"If there is a prima facie case of someone's human rights record being regarded internationally as being very serious, it's reasonable to question whether that person should be running a football club," he said.

"Nobody has real confidence in what they cannot see. The fit and proper persons test does not do the job sufficiently robustly.

"A review is now inevitable because football clubs are not mere commodities. They are the abiding passion of their supporters. We forget that at our peril."

Speaking later at the same conference, and with Triesman sitting a few feet away, Scudamore defended the clubs' financial affairs as he hit back at the FA.

"The FA themselves know about all these things because they are one of the most indebted organizations in the world," Scudamore said.

"Our clubs are all heavily regulated but they've also got directors and owners who will assess the level of risk of their overall debt.

"This is at the top of clubs' agendas and I think they are managing it responsibly."