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
Aguirre Named Japan Coach     
Former Mexico coach Javier Aguirre on Thursday was appointed head coach of the Japanese national team, ...
Swans Sign Montero    
Swansea on Thursday signed Ecuadorian winger Jefferson Montero on a four-year deal from Mexican club Morelia. ...
Orlando City Admits Robinho Talks     
Orlando City owner Flavio Augusto da Silva revealed that the MLS club is in advanced talks ...
Piazon Heads to Frankfurt on Loan    
Eintracht Frankfurt on Thursday signed Chelsea midfielder Lucas Piazon on a season-long loan. The Brazilian, 20, ...
Man City U21's Racism Claim to be Investigated    
The Croatian soccer federation (HNS) has said it will investigate Manchester City's claim that one of ...
Gareth Bale: La Liga Trumps English Premier League    
Real Madrid forward Gareth Bale believes Spain's La Liga is superior to the English Premier League ...
Report: CAS Could Reduce Suarez Ban    
An unnamed source from the Court of Arbitration for Sport (CAS) tells Goal.com that Luis Suarez's ...
Spurs Signs Vorm, Davies; Swans Sign Sigurdsson    
Tottenham Hotspur on Wednesday signed Dutch international goalkeeper Michel Vorm and Wales defender Ben Davies from ...
Stoke Signs Krkic From Barcelona    
Stoke City on Tuesday completed the signing of Bojan Krkic from Barcelona. Krkic, 23, became the ...
Report: Lampard Completes NYCFC Move     
Former Chelsea legend Frank Lampard has completed a move to new MLS franchise New York City ...
>> Section 2 Around the Net Archives