A report by UK newspaper The Guardian claims that the debt owed by the 20 English Premier League clubs amounts to £3.1 billion.

The Guardian reports that accounts for the clubs, mostly documenting the year to May, June or July 2008, show that FA chairman Lord Triesman underestimated the level of debt in English football, which he put at £3 billion in total last October, including the Football League clubs and the FA.

Manchester United and Chelsea lead the debtor’s table, owing £699 million and £701 million respectively. Arsenal were third with £416 million in debts. Liverpool owe around £280 million.