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Debt Refinancing Opens Transfer Market for Ferguson
The Daily Mail, July 18th, 2006 5:11PM

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Sir Alex Ferguson and Manchester United received a boost when a refinancing program was unveiled that should free up some cash for the high profile English club. Ferguson is the only manager of the top four English clubs who has yet to make a significant summer signing. In fact, with Van Nistelrooy set to leave tomorrow, and Cristiano Ronaldo telling anyone willing to listen he wishes to play in Spain, Ferguson had been looking at a bleak start to the campaign. The refinancing program slashes United's annual interest payments by almost 30 percent. This opens the door for Tottenham midfielder Michael Carrick as Ferguson's first field player signing of the year; Carrick could be followed by Patrick Vieira if Juventus' appeals attempt fails and the player is forced to leave. "We're working on several things and talking to several clubs," Ferguson told the Manchester United Web site on Tuesday. "We have made several inquiries for several players but we have held certain things back because of the Juventus situation. Another target is Atletico Madrid's want-away striker Fernando Torres, although he would command the heftiest price tag by far. When the Glazer family took charge of United last year they had to borrow massive amounts of money to complete the deal. Its debt now stands at 660 million pounds (almost $1.2 billion), the highest ever seen at an English club. Many worry the massive burden will keep the club from enjoying the kind of success it had in the 1990's. Read the original story...


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