Reports Say That Manchester United Is Hemorrhaging Money

The Ny Times, citing a Reuters new report, states that Manchester United’s parent companies debt, reached over 716.5 million pounds (or 1.15 billion dollars).

The debt is mainly linked to high interest payments associated with the loans needed by the Glazers to originally acquire the soccer team in a hostile stock takeover.

There have also been reports recently that Man U would launch a 500 million pound high yield bond to help refinance the debt taken on by the Glazer’s in 2005.

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  • http://kidsandteensnews.wordpress.com/ Fletcher Ayres

    Hopefully the red devils will pull it through today in the match against milan, to bad about the new owner and the glazer family casting a shadow over the great club, but that still don’t ruin the fun.