The Debt League
Every English football club ranked by net debt. Bank borrowings vs director loans vs group loans, because who you owe matters as much as what you owe.
| # | Club | Net debt | Bank | Director loans | Group loans | Cash | Year |
|---|---|---|---|---|---|---|---|
| 1 |
THFC
|
£81m | — | — | £20m | 2024/25 | |
| 2 |
MUFC
Manchester United
Glazer family / INEOS
|
£637m | — | £138m | £74m | 2024/25 | |
| 3 |
AFC
Arsenal
Stan Kroenke (KSE)
|
— | — | £325m | £33m | 2024/25 | |
| 4 |
EFC
|
— | — | — | £79m | 2024/25 | |
| 5 | £101m | — | £248m | £33m | 2024/25 | ||
| 6 |
AVFC
Aston Villa
V Sports
|
£78m | — | £202m | £6.3m | 2011/12 | |
| 7 |
BHA
Brighton & Hove Albion
Tony Bloom
|
— | — | £336m | £40m | 2023/24 | |
| 8 |
WHU
|
£3.9m | — | £213m | £422k | 2024/25 | |
| 9 |
CPFC
|
£30m | — | £34m | £14m | 2024/25 | |
| 10 |
BFC
|
£105m | — | — | £13m | 2024/25 | |
| 11 |
NUFC
Newcastle United
PIF, RB Sports, PCP Capital
|
£58m | — | £11m | £12m | 2023/24 | |
| 12 |
AFCB
|
£49m | — | — | £47m | 2024/25 |
What "net debt" means here
Net debt = total borrowings + amounts owed to group undertakings, minus cash on hand. Group loans are usually owner-loan money sitting at a parent company; they're debt the football club owes upwards inside the corporate group, often interest-free and rolled annually.
Director loans = directly from a named individual director, disclosed separately under FRS 102. Most clubs have these only when the owner sits on the board. The Reynolds/McElhenney money at Wrexham was group loans, not director loans, then converted to equity in 2024/25 (which is why Wrexham's net debt fell from £8.7m liabilities to net assets of £11.9m in a single year).
Refreshed weekly. Charges (loans secured against specific assets) are listed on the per-club hub.
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