5. Real Madrid
Total debt: $165million
By far and away the world's most valuable football club, with Forbes ranking Real Madrid at $3.3billion, it's no surprise to see them high on the debt-ridden list, given their reputation for paying big-money to bring big players to the Santiago Bernabeu.
The Spanish giants have broken the world-record transfer fee on four separate occasions, most recently last summer with the acquisition of Gareth Bale from Tottenham Hotspur.
Some critics have questioned the accuracy of Real Madrid's released accounts, suggesting that their debts are in fact much higher, but even so it is unlikely to account for much more than five per cent of the club's total value.