Are Premier League clubs in too much debt?

This is an article i found written by Robert Preston who is the BBC business editor. It is about Arsenal in the English Premier League. I found it too interesting to pass up.
Please read the article and come back here to read my view.




So what's your take on this shit about Premier League clubs being too far in debt. I think it's sick. Let's start from the bottom.
We could blame the players for demanding so much money to play for these clubs, and their signing on bonuses, scoring bonuses, clean sheet bonuses, etc, etc......or we could blame the club manager for hiring these players and spending the whole transfer budget on one player (in some cases).
We could also blame the club chairman who provide the money for the manager to spend on 'silly buys', buying players just to fill the #99 shirt, but i don't think you can ultimately blame these people, you have to blame the Premier League chiefs who allow the sort of owners like Glazier at Manchester United, Arsenal Holdings at Arsenal and Gillett/Hicks at Liverpool to do what they did. These 3 clubs are in serious debt, and these two are the ones you would least think to be in debt at all.The Premier League chiefs should be shot at dawn, then hung from the Anfield rafters and laughed at, that's just my opinion.

There is too much money in European football, only because it is the most popular sport in the world and it is attracting the likes of rich Arabs, wealthy billionaires, and big bucks Americans, people who would not have any interest if we turned back the clock to when the Premier League was the old Division 1, and the Champions League wasn't actually a league, just the top teams from their respective leagues, not second, third and fourth place teams in the mix also.
In some European countries you can only own a team if you're that nationality.

If the foreign businessmen have their own cash in a briefcase, then they can buy the club, if they have cash from loans being taken out, then i'm sorry, you're not buying shit. That's what should happen but all the Prem chiefs see is pound and dollar signs. It's all money money money and no football anymore. It's sad, so sad.