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Man United's debt is £370M. Bank has refinanced £192.34M of bonds to lower interest rate. Club to pay around £10m less in interest payments.
Am told Man United's annual interest payments to come down from £31M to about £21M with new loan from Bank of America. Rob Harris@RobHarris |
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it's taken them 8 years to knock £300m off the debt......in that time it's been pretty much constant success, along with selling our best player for the best part of £100m...3 champions league finals....5 league titles....
makes you wonder how long it will take to pay the rest off if moyes doesn't deliver.. |
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I read something lately (I think on that Andersed blog) that the analysts, even some of the most critical ones, believe the glazers could cut the debt by at least half again in the next two or three years. In five years it could be cleared.
That's staggering when you think of the shit they dragged us into in 2005. |
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They were ducking and diving for 5 years, not repaying any debt and refinancing to try and kick it down the road. Much though it hurts to say, they're in the clear now and with the massive increase in TV monies are sitting very pretty. |
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The amount the club brings in now is probably double than pre yanks. |
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