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 | The owners of Manchester United paid a good portion of the debts of the club16-11-2010 |
The owners of Manchester United agreed to pay about one third of the debts of the club, announced in April
Glazer family will repay a loan amounting to 220 million liras, which took in 2005 to implement the deal on the purchase of English football giants.
American businessman paid 790 million for the shares of Manchester United.
Even after the repayment of the loans, the debts of 18-time champion of England will be reduced to about 520 million pounds.
Estimates of 1.8 billion liras Manchester United recorded a loss of 83.6 million liras for the last year, which ended June 30, although it reached a record turnover in its history.
The reason for the negative financial result is huge amounts of interest paid on servicing the loans from the club at Old Trafford.
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