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Old October 8 2010, 03:14 PM   #2993
Jax
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Location: United Kingdom of Great Britain & Northern Ireland
Re: (UEFA) Football Thread - Football not Soccer

Manchester United have posted an overall loss of 83m, after costs associated with the club's massive debt wiped out record operating profits for the year
It gets worse...

Increased income from commercial and media deals helped the club to become the first English side to make over 100m in operating profit.

But Man Utd then had to make interest and other payments to service the 0.5bn debt brought to the club by the Glazer family.
Media turnover rose by 5.1m, to 104.8m, meaning these deals now bring in more than matchday turnover, which fell by over 8m to 100.1m.

Wages rose by 7% to 131.7m and there was a steep reduction in revenue gained from the disposal of players compared to last year, when Cristiano Ronaldo was sold to Real Madrid.
United's overall debt rose to 521.7m from 514.5m last year, and accounts show the club had cover a one-off cost for the successful 504m bond issue earlier this year.

The Glazers have never shown concern over the debt burden and the bond issue has offered greater flexibility with their financial dealings - even though it has an annual interest rate of 8.75% and has to be paid back in 2017.
What The Hell.
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