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
Atleti Re-signs Tiago     
Atletico Madrid on Tuesday re-signed Tiago Mendes on a two-year deal, despite interest from Premier League ...
Koeman: Dani Osvaldo for Sale    
Southampton manager Ronald Koeman has confirmed that Daniel Osvaldo is for sale, but reports in Italy ...
BVB: Hummels, Reus Not for Sale    
Borussia Dortmund coach Jurgen Klopp on Tuesday poured cold water over the transfer speculation swirling around ...
Shakhtar Brazilians Defected Because of 'Deadly Risk'    
Shakhtar Donetsk midfielder Douglas Costa says he and his fellow Brazilian players have refused to return ...
Brazil Reappoints Dunga as Head Coach     
The Brazilian soccer association (CBF) on Tuesday appointed Dunga as coach of the Brazilian national team, ...
Official: James Joins Real     
James Rodriguez on Tuesday became the fourth most-expensive player ever, signing a six-year deal with European ...
City's Negredo Breaks Foot    
Manchester City striker Alvaro Negredo has broken his foot and will be out of action for ...
Liverpool Close to Remy Signing    
Liverpool on Monday activated the release clause of Queens Park Rangers striker Loic Remy, agreeing to ...
Evra Joins Juventus    
Juventus on Monday confirmed that Patrice Evra has officially joined from Manchester United on a two-year ...
Prandelli: Balotelli's World 'Far Away from Reality'    
Cesare Prandelli has said he did not fall out with Mario Balotelli during the World Cup ...
>> Section 2 Around the Net Archives