2. Arsenal

Total debt: $384million

Arsenal boast the unwanted record of having the highest percentage (29) of debt of any club valued in Forbes' top 20 rich list, so the fact they are ranked as the fourth most valuable in the world will come as little satisfaction.

The construction of the Emirates Stadium has been largely responsible for the north London club's high level of debt in recent years, but it's also worth remembering that the high match day revenue would not have been possible at their former home, Highbury.

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