Join Now | 
HomeAboutContact UsPrivacy & SecurityAdvertise
Soccer America DailySpecial EditionAround The NetSoccer Business InsiderCollege Soccer ReporterYouth Soccer ReporterSoccer on TVSoccer America Classifieds
Paul Gardner: SoccerTalkSoccer America ConfidentialYouth Soccer InsiderWorld Cup Watch
RSS FeedsArchivesManage SubscriptionsSubscribe
Order Current IssueSubscribeManage My SubscriptionRenew My SubscriptionGift Subscription
My AccountJoin Now
Tournament CalendarCamps & AcademiesSoccer GlossaryClassifieds
Man United sets debt payment
AP, November 16th, 2010 12:52AM

MOST READ

MOST COMMENTED

An announcement is expected Tuesday regarding a debt payment to be made by the Glazer family, which owns Manchester United, on the massive debt incurred in the purchase of the club in 2005. A payment of about $353 million is supposed to be confirmed when a holding company, Red Football Ltd., files its latest financial accounts.

The source of revenue to make the payment is unknown. The payment-in-kind loans carry an interest rate of 16.25 percent and represent a fraction of the club's debt load of approximately $1.2 billion.

The payment would still leave the club with debts of about 520 million pounds ($834 million). Loans used to purchase the club and fund its operations have been rolled into a seven-year bond issue. Last month the club released figures showing it lost $132 million in the fiscal year ending last June 30 despite record revenues of $455 million and an operating profit of $159 million.

Read the original story...


No comments yet.

Sign in to leave a comment. Don't have an account? Join Now




AUTHORS

ARCHIVES
FOLLOW SOCCERAMERICA

Recent Section 2 Around the Net
Report: Clasico to Break Records     
AS reports that Saturday's Clasico between Real Madrid and Barcelona at the Bernabeu in Madrid will ...
Dunga Names Neymar Brazil Captain    
Brazilian national team coach Dunga on Friday revealed that Neymar will retain the captain's armband when ...
Reports: Lampard Could Extend City Stay     
According to reports in England, Frank Lampard could be able to stay on loan at Manchester ...
Pogba Signs Three-Year Extension with Juve    
Juventus midfielder Paul Pogba on Friday signed a new deal that will keep him at the ...
Rio Ferdinand to Retire This Season    
Former England captain and Queens Park Rangers defender Rio Ferdinand has said he plans to retire ...
Garcia: Roma Must Respond Following Bayern "Accident"     
AS Roma coach Rudi Garcia on Friday admitted that his team has a long way to ...
Mourinho: Costa Could Play Against Man United    
Jose Mourinho on Friday revealed that Chelsea striker Diego Costa could play at Manchester United on ...
Enrique: Suarez to Make Barca Clasico Debut     
Barcelona coach Luis Enrique on Friday confirmed that Luis Suarez will play in Saturday's Clasico vs. ...
Sporting Demands UCL Replay     
Sporting Lisbon has lodged a formal complaint with UEFA demanding a replay of its UEFA Champions ...
FIFA Rankings: USA Falls to 23rd    
Jurgen Klinsmann's USA fell six places to 23rd in FIFA's international rankings following a pair of ...
>> Section 2 Around the Net Archives