Previous
Southampton
Tottenham Hotspur
2
2
FT
Game Details
West Bromwich Albion
Liverpool
0
0
FT
Game Details
Espanyol
Barcelona
0
2
FT
Game Details
Manchester City
Aston Villa
3
2
FT
Game Details
Paris Saint-Germain
Lille
6
1
FT
Game Details
Atletico Madrid
Elche
3
0
FT
Game Details
Bayern Munich
Hertha Berlin
1
0
FT
Game Details
Internazionale
AS Roma
2
1
FT
Game Details
Columbus Crew
Philadelphia Union
11:30 PM GMT
Game Details
New England Revolution
Real Salt Lake
11:30 PM GMT
Game Details
Houston Dynamo
Sporting Kansas City
12:30 AM GMT Apr 26, 2015
Game Details
Vancouver Whitecaps
DC United
2:30 AM GMT Apr 26, 2015
Game Details
Next

Arsenal can lay down a marker

Arsenal
Read
By ESPN Staff

Manchester United's debts swell to £716.5m

Manchester United's parent company's overall debt has swelled to £716.5 million, latest accounts reveal.

• Fans' group distances itself from Fergie quit calls
• Editor's Blog: As debts rise, so only can anger
• Harris: Utd bond buying time

The company Red Football Joint Venture Ltd, which is owned by the Glazer family, filed accounts today for the year ending June 30, 2009 showing their overall debt has gone past the £700 million mark for the first time, increasing by £17 million from £699 million.

The biggest rise has come in the payment in kind (PIK) loans, which typically have a higher interest rate, which show a £27 million increase to £202 million. Bank loans, meanwhile, have dropped by £9 million to £509 million.

The overall debt figure, not contained in the prospectus for a £500 million bond issue released last week, illustrate why the Glazers are so keen to raise cash through bonds to reduce the interest on the debt.

Red Football Joint Venture paid out £68.5 million in interest on their debts in 2009 but unlike the previous year, returned an overall profit of £6.4 million in 2009. In 2008, they returned a £47 million loss.

The profit can almost entirely be explained by the sale of Cristiano Ronaldo to Real Madrid in the summer for £80 million.

Red Football Joint Venture's accounts record an £80.7 million profit on ''disposal of players'' compared to a £21 million profit in 2008.

A spokesman for the Glazer family insisted that the debt did not have a bearing on the operation of the club. He said: ''The club has a £50 million surplus to work with once the interest payments have been made.''

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.