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Football Debt
07-Jun-2010, 02:17 PM
Post: #1
Football Debt
Manchester United owner's debts hit £1.1bn

Manchester United's owners are £1.1bn in debt - £400m more than previously known - after borrowing extensively against their shopping mall business.

BBC Panorama has found evidence that the Glazer family's debt levels may threaten their hold on the club.

A spokesman for the American family has said it holds more than £2bn in assets.

But the extent of the debt owed by the Glazers is likely to fuel a continuing revolt by some supporters, who oppose their ownership of the club.

Details of the financial arrangements of the owners also come at a time when the sport's governing bodies are facing questions about Premier League debts that have reached a combined total of £3.4bn and the growing popularity of leveraged buyouts in English clubs.


BBC

Martin ~
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07-Jun-2010, 09:31 PM
Post: #2
 
Shocking how a club the size of United can be in such a mess financially. Their only hope is that some mega rich arabs or suchlike come in and make the Glazers an offer they can't refuse. If they are using United as a source of Income like that the i'm not surprised their supporters hate them so much. The sea of green and yellow around Old Trafford on matchdays tells its own story.
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