Brown warns English clubs over rising debts

January 25 – Prime Minister Gordon Brown (pictured) today admitted that the rising amount of debt being carried by several Premier League clubs was a ‘”concern” but Government intervention was out of the question.

This month saw the parent company of English champions Manchester United announce debts of £716.5 million pounds while, at the other end of the table, basement club Portsmouth face a winding-up order over unpaid tax bills.

Brown, responding to a question at his monthly press conference, said: “Over the last few years a number of football clubs have become highly leveraged and therefore they have far higher levels of debt than the income they are able to generate from their footballing activities and their television activities.

“It is a matter that the clubs themselves have got to be concerned about.

“It is a worry to supporters and I think the management of football clubs have got to look very seriously at their responsibilities.”

But Brown, a Scot who supports Scottish First Division side Raith Rovers, made it clear that football teams could expect no Government support if they got into financial difficulties.

He said: ”It is an issue for the clubs themselves, they have got to deal with this issue.”