In the modern game, financial power can make or break a football club—but with ambition often comes risk. Many of Europe’s biggest names are weighed down by enormous debts, the result of expensive signings, stadium investments, or mismanagement. While success on the pitch may continue, the balance sheets paint a more troubling picture behind the scenes.
Below are the 10 clubs in Europe with the highest reported debt figures, starting from No. 10 and building up to the most indebted of them all.
10. AS Roma – £179M
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AS Roma closes out the top ten with a debt total of £179 million. Despite having new ownership and recent investments, the Italian capital club continues to operate under financial pressure. Their ambitions on the European stage are high, but managing debt will remain a critical challenge.
Just ahead of Roma, Juventus carries £180 million in debt. The Turin giants have endured a turbulent few years, both on and off the pitch. With fluctuating revenues and mounting expenses, the club’s financial recovery will require careful restructuring.
One of Turkey’s most iconic clubs, Galatasaray is burdened with £191 million in debt. The club frequently spends heavily to maintain domestic dominance and European presence. However, their financial model remains under scrutiny amid growing concerns about sustainability.
7. CSKA Moscow – £193M
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CSKA Moscow ranks seventh with £193 million in debt. The Russian club, once a regular in the Champions League, has struggled financially in recent years. Limited commercial growth and political factors have also restricted their revenue potential.
6. AC Milan – £214M
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With £214 million in debt, AC Milan’s resurgence on the pitch has yet to be fully mirrored financially. Despite winning Serie A in 2022 and consistent Champions League qualification, legacy debt and stadium issues weigh heavily on the balance sheet.
5. Queens Park Rangers – £240M
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Perhaps the most surprising name on the list, QPR holds £240 million in debt. The Championship side has long struggled to recover from failed Premier League ventures and poor financial management. Their debt load is unusually high for a club outside the top flight.
Valencia’s £245 million debt reflects a decade of instability. Ownership issues, underwhelming results, and lack of Champions League income have hampered the club’s ability to balance its books. The once-proud La Liga side remains in a prolonged financial crisis.
3. Inter Milan – £263M
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Despite recent sporting success, including a Serie A title and Champions League final appearance, Inter Milan is carrying £263 million in debt. Their ambitious spending has not been fully matched by revenue, creating long-term financial headaches for the Nerazzurri.
2. Benfica – £289M
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Portugal’s most successful club, Benfica, sits second with £289 million in debt. Known for developing talent and generating major transfer revenue, the Lisbon club still faces significant financial obligations. Infrastructure investments and past spending have inflated the debt.
1. Manchester United – £461M
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Manchester United tops the list with a staggering £461 million in debt. Much of this stems from the controversial leveraged buyout by the Glazer family. Despite massive global revenues, the Red Devils remain heavily burdened by interest payments and financial obligations.
