4. Bolton Wanderers
Total debt: $267million
Another English club currently playing in the Championship, the loss of parachute payments has further hindered Bolton's financial situation in recent years, and lost over $83million in the space of one year.
The Trotters have paid the price for dropping out of the Premier League the year before they signed a lucrative new television deal (worth just shy of $5billion), and their hopes of revival lie solely at the door of owner Eddie Davies.