Previous
Manchester City
Manchester United
Postp
Game Details
Cheltenham Town
Bristol City
6:45 PM UTC
Game Details
Sarmiento de Junín
Los Andes
9:00 PM UTC
Game Details
Flamengo
América Mineiro
11:00 PM UTC
Game Details
Next

Trending: ICC Manchester derby cancelled

Latest
Read

Adams turns down Arsenal role - source

Arsenal
Read

Celtic to suffer in Europe again?

Betting Blog
Read
By ESPN Staff

New loan to save Utd £10m a year

Manchester United have cut their interest bill by £10million a year after a major refinancing through Bank of America.

• Blog: Signs of continuity
• United top TV earnings table

United have refinanced £177.78million of outstanding sterling bonds, on which they are currently paying a rate of 8.75%.

In addition they have refinanced approximately £17million of dollar bonds on which they are currently paying 8.375%.

Through the new loan with Bank of America, the club is estimated to save approximately £10million per year.

United's current debt is £370million following the 2005 takeover by the Glazer family.

But due to a staggering rise in the club's commercial income, United are expected to hand new manager David Moyes the funds needed to keep the Red Devils competitive against their rivals.

Information from the Press Association was used in this report.

Comments

Use a Facebook account to add a comment, subject to Facebook's Terms of Service and Privacy Policy. Your Facebook name, photo & other personal information you make public on Facebook will appear with your comment, and may be used on ESPN's media platforms. Learn more.