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Old 24-03-2011, 11:13 AM   #28
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Glazer out....
 
 
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Default Re: Green And Gold Till The Club Is Sold..!

Red Football Joint Venture is the Glazer family parent company that owns the Old Trafford club.

Its loss, for the year to July 2010, includes one-off costs from setting up a £526m bond scheme last January to replace outstanding debts of £509m.

There was also a drop in player sale income, compared to the previous summer when Cristiano Ronaldo was sold.

That Ronaldo sale had netted the club £80m in the summer of 2009, and had contributed to a £21m profit the previous year.

Losses in 2010 included £30.2m interest on their £220m payment in kind (PIK) loans which have now been repaid.

Manchester United's club accounts were published in October and revealed losses of £83.6m.

The club is currently top of the Premier League, in the FA Cup semi-final, and in the Champions League quarter final, all of which offer revenues in terms of prize money and television monies.
Transfer
Manchester United parent firm loses £109m in 2010
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