#7 PFC CSKA Moskva, €224 million
The 2005 UEFA Cup winner, CSKA Moskva are the defending Russian Premier League champion and yet the club finds itself seventh on the highest net debt list. The alarming thing, however, is the fact that the debt is 3.7 times the revenue earned by the Russian club. This is a worrying trend for the club as it points to poor management of its finances.
CSKA Moskva needs to get the financial arrears right, especially with the FFP rules deployed by the UEFA in full flow.
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