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Over the past year we have examined some of the less-obvious casualties of the credit crunch. Add two more to the list.

The Argentine Football Association has delayed the start of its season because many of its clubs are so loaded with debt that they cannot pay the salaries of their players.

Elsewhere, it is widely being reported that America's Arena Football League, coming off a suspended 2008 season, will fold and declare bankruptcy.

The explosion of debt-financing in the Prem is well-documented and lamented (Platini I am looking in your direction), but the Prem's owners are hardly alone in financing their club purchases, new stadiums, and expensive transfer policies through debt. I am admittedly unfamiliar with the business of Argentine or Arena football, but it seems these are two further examples of the de-leveraging of sport.