 Old Trafford is well and truly back in 'the red'... Manchester United remain the world's most valuable sports club, but behind-the-scenes the owners continue to struggle with their massive debts. Figures released this week from 'Red Football Joint Ventures' (Limited) show that The Glazer Family's parent company made a loss of £108.9 Million from July 2009 to the same month in 2010. The total debt that the club is burdened with is now £590.4 Million, which rose on the 2009 figure of £566.1 Million. The previous year, 'Red Football' made a profit of £21 Million due to the £80 Million sale of Cristiano Ronaldo to Real Madrid. However, even if another Ronnie was to be sold - the club's owners would post a significant loss. The accounts of the football club - and not the owners - were published in October, which revealed a record loss of £83.6 Million. The Glazer's losses for the 2009-2010 financial year include once-off costs from the setting-up of a £526 Million bond scheme in January of last year to compensate for a debt total of £509 Million. The record £108.9 Million company loss also entails a £30.2 Million interest payment on a high-yielding Payment-In-Kind (PIK) loan of £220 Million. The PIK loan became highly controversial, but it has since been fully repaid. The club's parent company also lost nearly £20 Million on what it called 'unforeseen currency exchange rates' between American Dollars ($) and British Pound Sterling (£). In February, it was discovered that there had been a transfer of the parent company of United - 'Red Football' - from Nevada to Delaware, a less 'financially intrusive' US State. The Red Devils remain in the hands of The Glazer Family, and with success imminent in the Barclays' Premier League, UEFA Champions League and The FA Cup - protests about the club's ownership have been less vociferous this term. That could all change, while supporters still remain confident of a takeover offer for the world's largest sports team. CommentsSkemdevil 22/03/2011 7:28pm
If I was losing that amount of money a YEAR!! I would take a good offer if it came along. Either the offers haven't been made or the club can be managed. I doubt the later, I don't want big amounts of money spent in the summer but a marquee signing is required to prove the financial muscle is up with the best of them. I am not having that there is no value in the Market. Sean 123 Mufc 22/03/2011 7:30pm
right lets for get about the Glazers . we want to win the 19 title and Chanmpions league final and beat City we do not want any more protests it will effect the team why do you think we lost the league least season , lets get behind the lads and then when the Summer comes fans can March outside Old Trafford but not while were going for a Title td1 22/03/2011 7:49pm
I agree sean but you must have to admit it's scary the club of our size in debt of the amount it is, but like you said let's get the season out the way bring in the silverwear then hopefully the yanks will take any offers in the summer (if any gets made) Skemdevil 22/03/2011 8:15pm
I agree that there should be no distractions from our objectives this season. I feel protests outside the club won't effect anything. The protest needs to be taken to the states, directly to those who need the message. I as a family man could not afford to do this personally but I am sure there are a few thousand out in the states that could do it. We need to make them look bad in their own neck of the woods. Sean 123 Mufc 22/03/2011 8:22pm
we could do the march again like we did before the Spurs game that would be fine but not inside the ground . Ranks 22/03/2011 8:31pm
I agree 100% with Sean. Give the team our full backing without any distractions, then protest once the trophies are decided and I for one can't wait to see the back of the Glaziers and their debt, so please don't patronise me about not being a "true red" or words to that effect. We're going through a crucial period and doing it with a makeshift backline, so the team needs all the support it can get until the end of the season borba 22/03/2011 8:35pm
The Glazers already look bad in there home state of Florida no TampaBay Buc supporter want them as team owners also. Its. not just there on manchester we want. them out also.in florida they want them out.Glazers just don't get the clue no supporters from the U.S.A and Manchester United want them to be owners. Chris m 22/03/2011 9:10pm
1 thing iv learnt is that david gill and the glazers dont give a shit bout wat the fans say or want and iv found gills backing of the glazers quite cockey and checky claiming ther good owners. Luke 22/03/2011 9:25pm
For god sake, just get the Glazers out of this club! Chris m 22/03/2011 9:57pm
I feel for saf having to bak them up all the time wel i hope we get one sighning in atleast and id like 1 of these 4 pastore,costa,modric,or ash young Quiggs 22/03/2011 10:35pm
Gill has to be seen to back them same ar saf. Its their boss. I'd love to see huge crowd displays at every game at the final whistle. Everyone holding up green and gold cards or wearing green and hold t shirts like a whole stand in green and gold sections. Until they are gone this mighty club is going to suffer. What would happen if they decided they were to put everyone up for sale to make money to say debt? Where would we be then? Its not money that's killing this game its people like the glaziers. Remember how good we were whew we were a plc. When fans owned the club Bren 22/03/2011 10:35pm
I think like anything any buisness the Glazers have run there couse there losing money it's plainly obivious that there is money to spend on players..........if there was we would have strengthened the team over the last three years properly not bebe, obertan and so on. I feel sorry for SAF but I think he needs to stop pertecting the Glazers. The club needs to be bought by the Quataris hopefully in the summer we can only pray and invest in 4-5 players and get rid of a few - bebe, obertan, Carrick berbatov and Ferdinand injured to much sell him now while we might still get some money or a swap with a forigen club don't know only hope Redboyz 22/03/2011 10:55pm
If Utd were to buy all these players u guys wish for next season.. Would u change ur mind about the glazers? Chris m 22/03/2011 11:22pm
Yes i would as it would prove they want to maintain man utds status Fred 22/03/2011 11:42pm
Glazers are parasites, they are milking are great club dry and things are going to get worse unless they piss off.whats the bet that fergie says in the summer there's no value in the transfer Market. Gary 23/03/2011 12:01am
Can't they be forced to sell the club like them other idiots were who owned liverpoo? borba 23/03/2011 1:58am
Get these dumbass out please. These fukin Glazers need to go from Manchester United and the NFL they are the worst owners in both football leagues ever. Man 23/03/2011 4:37pm
Is Utd going to sell Rooney and Hernadez because of the loss? Chris m 23/03/2011 8:46pm
No chance Hamburgerop 23/03/2011 9:41pm
I hate the glazers!!! But would u rather want to be making losses and winning trophies (Utd), or making losses and not winning anything (shiteh), or making profits but not winning anything (arsenal)? Hamburgerop 23/03/2011 9:44pm
My bad, I think even Barcelona is found to be making losses after the new auditors found out! Man 24/03/2011 9:56am
Is berbatov going to juventus? td1 24/03/2011 12:42pm
Man!! where do you make this stuff up ? Man 24/03/2011 4:19pm
Eurosport news Kiddo1971 26/03/2011 10:33pm
It's down to SAF's management skills that the team are doing so well, despite the huge debt and ownership of the Glazers. That's what makes the situation seem better than what it actually is. Comments are closed. |  
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