Although football is the most money-making sport, some players and even clubs have faced financial issues. Various reasons are there behind the bankruptcy of footballers and teams. Association clubs generate huge amounts of money through TV rights deals, sponsorships, and shirt sales. But, financial issues are still there. Here are the complete details about the top 10 most popular football clubs that become bank default.
Most Popular Football Clubs Which Become Bank Default
5 – Portsmouth
- League | EFL League One
- Debt | $140 million
- Year | 2010
The English football club is currently competing in EFL League One. However, Portsmouth had gone bankrupt in 2010 when it failed to pay the debt of $140 million. Mostly, the debt was due to player transfers, wage bills, and TV rights deals. However, the owners have taken the right steps to make it financially stable again.
4 – Rangers
- League | Scottish Premiership
- Debt | $198 million
- Year | 2013
Often referred to as Glasgow Rangers, the team is competing in the Scottish Premiership and is one of the best in business currently. However, the team also became bank defaulted in 2013, when it went under a debt of $198 million. However, TV rights deals have played a major role in removing the debt.
3 – Parma
- League | Serie B
- Debt | $288 million
- Year | 2015
Parma has an origin history, way back to 1913. The team is currently competing in Serie B, 2nd top tier club in the Italian football system. Despite having a long history, they also have faced financial issues. In 2015, the team went under a debt of $288 million due to wage bills and transfer fees.
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2 – Manchester United
- League | Premier League
- Debt | $705 million
- Year | 1908
The Red Devils are money giants these days as they have signed one of the most expensive TV rights deals in sports history. Moreover, United also has a number of endorsements, and shirt sales are another source of revenue. However, there was also a point in the club’s history when it went to the stage of administration in 1908. The total debt of the club was $705 million.
1 – Chelsea
- League | Premier League
- Debt | $957 million
- Year | 1980
In 1980, Chelsea was bank defaulted due to the biggest debt in football history. Chelsea is currently one of the best competitors in the English Premier League. However, recovering from the bankruptcy and the debt of $957 million is not an easy task. Chelsea owners have signed the Biggest TV rights deals and also taken loans from banks to sign big names to generate more views, shirt sales, and, ultimately, revenue has been increased.
Top 10 Most Popular Football Clubs Which Become Bank Default
| #No. | Clubs | Debt Money | Year |
|---|---|---|---|
| 1 | Chelsea | $957 million | 1980 |
| 2 | Manchester United | $705 million | 1908 |
| 3 | Parma | $228 million | 2015 |
| 4 | Rangers | $198 million | 2013 |
| 5 | Portsmouth | $140 million | 2010 |
| 6 | Leeds United | $140 million | 2007 |
| 7 | Fiorentina | $50 million | 2002 |
| 8 | Coventry City | $33 million | 2013 |
| 9 | Malaga CF | $5.2 million | 2020 |
| 10 | Wigan Athletic | $3.5 million | 2020 |
All these are the details about the top 10 most popular football clubs that become bank default. If there is any change in the details, we will make them available here. Stay tuned for more updates!
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