Submitted by Loud_Ad1767 t3_10qv4pg in sports
Milestailsprowe t1_j6swnbu wrote
Reply to comment by brett1081 in Premier League clubs spend $1 bln for first time in January transfer window by Loud_Ad1767
Do they really have the money because a ton of those clubs are in serious debt
brett1081 t1_j6sxx0i wrote
Not dissimilar to other clubs. Doesn’t Real Madrid have almost a billion euros of debt? I think you saw a spending splurge because of some new club ownership. Chelsea was almost 3/4 of a billion pounds I think.
[deleted] t1_j6tgcja wrote
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ShitPostQuokkaRome t1_j6ufvor wrote
RM definitely has not that debt. Chelsea had 1.5bn debt
brett1081 t1_j6uo9gr wrote
It was Barca. Here is a list from last year. Looks like you made up your Chelsea stat so congrats for that.
ShitPostQuokkaRome t1_j6uotoh wrote
It is not a made up stat you absolute tool, Abramovic cleared 1.5 billion in debt from the club after being kicked out during the Ukraine war. Said money to clear the debt was literally donate to the Ukrainian war effort so it's not even an abstract concept, so you can grasp it too.
brett1081 t1_j6uq128 wrote
The debt of the club to its owner? It wasn’t held by a third petty bank it was simply a financial game. They didn’t have to borrow outside of the organization, but good try.
_NotMitetechno_ t1_j6uoqgl wrote
Debt isn't a problem if you can pay it back. Most debt is in installments/investing in stadiums/facilities/to owners for bankrolling them/transfers spread over time. Owners will usually either finance the debt or just give loans to clubs they don't want back unless they're selling the club.
TooRedditFamous t1_j71j12q wrote
Debt is a function of a working business. PL clubs do not have to worry about debt because they have billionaire owners and their huge revenue comfortably services it anyway. They just have to avoid getting relegated where their revenues drop hugely, and they'll be fine.
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