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Red Devils Pay £250,000 a Day to Service Debts

By Chandrashekar Srinivasan: Subscribe to Chandrashekar's RSS feed

Manchester United's days of woe seem only to be beginning. Merely days after having watched local rivals Manchester City pip them to their first league title in 44 years, seen former player Carlos Tevez abuse manger Sir Alex Ferguson (and refuse to apologise) and heard Chief Executive David Gill admit to being outclassed by City in terms of financial might, fans of the Red Devils will be unhappy to hear the club's debt levels are at an astronomical £420mn and the club continues to lose money.

A report in the Daily Mail only compounds that misery, when it claims the club pays £250,000 a day to service debts imposed by the Glazer family when they bought the club. Apparently as much as £71mn has been lost over the last nine months, in making these payments.

While the club has seen increases in revenue, according to a report by the Daily Mail in February - matchday revenue is up from £52.4mn to £54.5mn, media revenue from £53.7mn to £60.9mn and commercial revenue from £50.4mn to £58.6mn - operating costs have risen from £96.9mn to £110.8mn.
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More recently, while gross debt has fallen by 12 percent from £484.5mn to £423.3mn, cash reserves have similarly dropped - from a healthy £113mn to a slightly alarming £25.6mn - prompting Gill to reiterate the club could not afford to compete with the likes of Manchester City and even Chelsea, domestically.

So let me get this straight, their debt has decreased some 60 million while their immediate cash assets have fallen some 88 million. This leaving them with 25 million cash in a gold. That's not good. Not good at all.

And as my Japanese mate would say:

Unrucky


That is all

Keep going Malcolm lad.

David Gill " We have the resources to buy 10 players if we want to..."

Malcolm Glaser "Yeah that's right......... and still have enough to buy a box of matches"

blues-clues wrote:David Gill " We have the resources to buy 10 players if we want to..."

Malcolm Glaser "Yeah that's right......... and still have enough to buy a box of matches"

beautiful

Agent Glazer is doing a good job ; too bad this came out too late for player of the year award . ..

Scatman wrote:

blues-clues wrote:David Gill " We have the resources to buy 10 players if we want to..."

Malcolm Glaser "Yeah that's right......... and still have enough to buy a box of matches"

beautiful

Very good.

If anyone could be arsed, I recon you can trace that Ronaldo transfer money and find it was sat in the bank for a period of time until the punters forgot about it, (a few signings used as a smokescreen) then snaffled by the Glazers.

They are doing a fantastic job & I for one would happily concede the occasional cup to Utd in order to keep the Glazers there long term.

Apparently gill has asked cuntchops to provide him with a "plan B" list of players, in anticipation that us and chelsea will basically cherry pick the "plan a" players scum have been gleefully cherry picking for 25 years. Never mind...they can offer "history" and "tradition" as if noone else has any...what a cunt he is, fuck em..FUCK EM!