THE CREDIT CRUNCH HAS STRUCK FOOTBALL TO.

The credit crunch which has affected the whole world now, in ssome way or the other.Has affected football clubs in a big way.
Like in Spain Levante and Celti Vigo have now clearly fall in the red, and many smaller clubs may follow as the days pass by. So far the two giants in Spain Real Madrid and Barcelona seem to be very safe indeed. But others may not be so .
Take the English club West Ham United, they can not even find a sponorer and they are in big troble, as the owner is from Iceland , wherer banks ,and his are in trouble.
The Russian owner of Chelsea olso felt the meltdown in Russia their share market lost heavily, the story is that Roman Amorovich has lost 12, million pounds in the share market , and a nother Russian lost 24, million pounds in their share market.
Both Liverpool whose debt now stands at 350 million pounds to the R.S.Bank and to an American bankWachovia a already collapsed bank.. Chelsea loss is over 770 million pounds.
We may soon find out that in the new season many small clubs and those who spend lavishly may soon be in the hands of an administrator.