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Man United holding company loses 104.7M pounds

Man United holding company loses 104.7M pounds

The company set up by Manchester United's American owners to run the English Premier League club recorded a net loss of 104.7 million pounds ($171.5 million) last season.
The Glazer family's Red Football Joint Venture Limited was hit by the 64.7 million-pound ($105.9 million) cost of setting up a bond scheme to replace high-interest bank loans.
And unlike the previous season, the team did not sell any high-profile players. Cristiano Ronaldo's move to Real Madrid helped the club's parent company to a 6.4 million-pound ($10.5 million) net profit for the previous season.
But in the annual report for the 12 months to June 30, 2010, director Joel Glazer says the club has "sufficient cash reserves ... for investment in the playing squad."


Updated : 2021-05-06 21:35 GMT+08:00