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Manchester United Make £84 Million Loss On Debt Cost

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http://uk.reuters.com/article/idUKTRE6971QI20101008

Manchester United made a full-year loss of 84 million pounds due to managing the cost of debt, they said on Friday, giving more ammunition to the many critics of the Premier League club's American owners.

The club, third in the Premier League, posted a record operating profit of 101 million pounds due to increased broadcasting and commercial income but made a loss when interest charges and the cost of restructuring debt were added on.

The club also marked down value due to the fluctuating exchange rate and a reduction in the value of the playing squad. They had lower matchday revenues on last year due to the side's exit from the Champions League in the quarter-finals and the FA Cup in the third round.

The news will add to a debate in Britain about club ownership after rivals Liverpool agreed a sale to new owners in a bid to rid themselves of millions of pounds' worth of debt which had limited their ability to buy new players.

Many fans of Manchester United also believe their club have been limited in the transfer market, at a time when fierce local rivals Manchester City have spent heavily on new players under wealthy new owners.

The Glazer family bought Manchester United, one of the most famous soccer clubs in the world, in 2005 for about 790 million pounds against a wave of protest from fans who feared they would load it up with too much debt.

Thank god debt won't sink the business.

At least the Glazers have the cash if all goes pearshaped and Utd don't have any success, just think what that will do to the cash flow.

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I read on the times website in about April that the glaziers had a £50m loan secured on Man U, the interest was 15 or 16% iirc!

Rich ppl appear to be buying clubs, loading them we debt and then doing a runner At least the liverpool owners look like they're going to get their fingers burnt to the tune of £200m, ouch!

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I read on the times website in about April that the glaziers had a £50m loan secured on Man U, the interest was 15 or 16% iirc!

Rich ppl appear to be buying clubs, loading them we debt and then doing a runner At least the liverpool owners look like they're going to get their fingers burnt to the tune of £200m, ouch!

Question remains, why doesn't someone in the U.K ever buy these teams?

We just like to sell them abroad and then moan

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  • 144 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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