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
Glazers' leveraged buyout costs Man United plenty
Guardian, February 23rd, 2012 1:59AM

MOST READ

MOST COMMENTED

David Conn explains how the purchase of Manchester United by the American Glazer family seven years ago with a leveraged buyout created a $780 million debt for the club.

The latest quarterfinal financial report shows that from October to December 2011, the cost of the Glazers' leveraged buyout of United -- when they loaded their own $823 borrowings on to the club itself to repay, was $27 million. The club paid $19 million in interest and other financing charges, and $8.3 million paying off some actual debt, which nevertheless remains over $620 million.

Andy Green in his "Love United, Hate Glazer" Andersred blog documented that the total drained out of United in interest, bank charges and other payments before these latest figures was $750 million.

So the total cash taken out of United, to pay for a takeover the fans and then board did not want, was more than $780 million by Dec. 31, 2011.

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: Blind Injury Not as Bad as Feared     
Manchester United on Thursday was boosted by the news that defender Daley Blind will be out ...
Parma Deducted Points for Missing Payments    
Serie A club Parma will be deducted between one and six points this season for failing ...
MLS MVP Finalists Still Alive     
For the first time since 2010, all three MLS MVP finalists still have a chance of ...
Toure, Ivory Coast Confirm AFCON Participation     
Manchester City will increase its efforts to extend Frank Lampard's loan from New York City FC ...
Marseille Officials Implicated in Raids     
Ligue 1 leader Marseille is still in shock after fifteen current and past officials at the ...
Report: Qatari Whistleblower Fears for Safety     
Former Qatar 2022 bid worker Phaedra Almajid fears for her safety after FIFA ethics judge Joachim ...
Report: FIFA's Anti-Corruption Case in 'Disarray'    
FIFA ethics judge Joachim Eckert and investigator Michael Garcia are meeting on Thursday to discuss the ...
Boca, River Square off in Copa Sudamericana Semis    
Buenos Aires archrivals River Plate and Boca Juniors are set to meet in the Copa Sudamericana ...
Report: Real to Receive $2 Million for Modric's Injury     
AS reports that FIFA will compensate Real Madrid with 1.6 million euros ($2 million) for the ...
Liverpool's Sturridge Out Six Weeks     
Liverpool striker Daniel Sturridge has picked up yet another injury and is now set to miss ...
>> Section 2 Around the Net Archives