Join Now  | 
Home About Contact Us Privacy & Security Advertise
Soccer America Daily Soccer World Daily Special Edition Around The Net Soccer Business Insider College Soccer Reporter Youth Soccer Reporter Soccer on TV Soccer America Classifieds Game Report
Paul Gardner: SoccerTalk Soccer America Confidential Youth Soccer Insider World Cup Watch
RSS Feeds Archives Manage Subscriptions Subscribe
Order Current Issue Subscribe Manage My Subscription Renew My Subscription Gift Subscription
My Account Join Now
Tournament Calendar Camps & Academies Soccer Glossary Classifieds
Glazers' leveraged buyout costs Man United plenty
Guardian, February 23rd, 2012 1:59AM
Subscribe to Section 2 Around the Net

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
    Youth soccer fights back against 49ers    
    Northern California youth soccer advocates, including Santa Clara Youth Soccer League President Tino Silva, have launched ...
    Cal South TOPSoccer Program Turns 25    
    "We're all soccer players, special needs or not," says Sandy Castillo, chair of the Cal South ...
    How Neymar Played in Childhood    
    Neyrmar: "I used to pick up the ball, set up the furniture and go around dribbling ...
    Roma Partnering with U.S. Youth Clubs    
    Italian Serie A club Roma, which has American ownership, aims to forge partnerships with seven U.S. ...
    LVG: Falcao "Has to Prove Himself"    
    Manchester United coach Louis van Gaal has responded to criticism over dropping Radamel Falcao by claiming ...
    Report: Adidas to Assist Messi Move?    
    According to Spanish sports daily AS, Lionel Messi's sponsor Adidas could be the key to the ...
    Toure Admits Man City Future in Doubt    
    Speaking ahead of the opening games of the African Nations' Cup in Equatorial Guinea this weekend, ...
    Ronaldo Blasts 'Defensive' Atleti Tactics    
    Cristiano Ronaldo blasted Atletico Madrid for its unattractive style after the Rojiblancos ousted Real Madrid from ...
    Fabian Johnson's 'Spat' with 'Gladbach Coach Favre    
    According to Bild, USA defender Fabian Johnson is in a "spat" with Borussia Monchengladbach coach Lucien ...
    Serie A to Introduce Goal-Line Technology    
    Serie A will introduce goal-line technology next season after the Italian soccer federation (FIGC) gave its ...
    >> Section 2 Around the Net Archives