This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.
You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/business/8545662.stm
The article has changed 10 times. There is an RSS feed of changes available.
| Version 5 | Version 6 |
|---|---|
| Manchester United sees debts drop | Manchester United sees debts drop |
| (10 minutes later) | |
| Manchester United has reported a reduction in the club's huge debt burden. | Manchester United has reported a reduction in the club's huge debt burden. |
| The football club said its gross debt was £507.5m by the end of last year, compared with £716.5m in June. | The football club said its gross debt was £507.5m by the end of last year, compared with £716.5m in June. |
| Pre-tax profits for the last three months of 2009 were £6.9m compared with a loss of £2.7m in the same period in 2008. | Pre-tax profits for the last three months of 2009 were £6.9m compared with a loss of £2.7m in the same period in 2008. |
| The news comes as the "Red Knights" consortium of financiers has been meeting to discuss a possible bid. | The news comes as the "Red Knights" consortium of financiers has been meeting to discuss a possible bid. |
| Deloitte's sports unit said on Tuesday that the Premier League champions were behind Real Madrid and Barcelona in terms of football income. | Deloitte's sports unit said on Tuesday that the Premier League champions were behind Real Madrid and Barcelona in terms of football income. |
| US sports tycoon Malcolm Glazer took over the club for £800m in 2005. | US sports tycoon Malcolm Glazer took over the club for £800m in 2005. |
| But his reign has been controversial, with many fans opposed to the huge levels of debt that Red Football, the club's holding firm, took on to finance the takeover. | But his reign has been controversial, with many fans opposed to the huge levels of debt that Red Football, the club's holding firm, took on to finance the takeover. |
| By June last year, the club's debt passed £700m for the first time. | By June last year, the club's debt passed £700m for the first time. |
| Green and gold | Green and gold |
| Many fans wore green and gold - the colours of Newton Heath before it was renamed Manchester United in 1902 - at Sunday's Carling Cup final, which the defending champions won. | Many fans wore green and gold - the colours of Newton Heath before it was renamed Manchester United in 1902 - at Sunday's Carling Cup final, which the defending champions won. |
| BUSINESS OF SPORT DEBATE Join leading figures in football for a BBC debate: The Business of Sport - Football in the Red. | BUSINESS OF SPORT DEBATE Join leading figures in football for a BBC debate: The Business of Sport - Football in the Red. |
| It will be broadcast live on Tuesday 2 March (all times GMT) | It will be broadcast live on Tuesday 2 March (all times GMT) |
| 2000-2100 BBC News Channel2000-2130 BBC Radio 5 live2000-2130 BBC News website class="" href="/2/hi/business/8545504.stm">Would-be Man Utd buyers will need deep pockets class="" href="/sport2/hi/football/teams/m/man_utd/8544593.stm">Financiers 'hold Manchester United takeover talks' | |
| In January, Manchester United successfully raised £504m through a bond issue, meaning the Premier League club will be able to pay off nearly all their outstanding debts. | In January, Manchester United successfully raised £504m through a bond issue, meaning the Premier League club will be able to pay off nearly all their outstanding debts. |
| The club faces an annual interest bill of £45m a year on the bonds. | The club faces an annual interest bill of £45m a year on the bonds. |
| Revenue in the last three months of 2009 rose to £87m, from £74.4m in 2008. | Revenue in the last three months of 2009 rose to £87m, from £74.4m in 2008. |
| Manchester United's cash balance stands at £122.1m, up from £8.6m. | Manchester United's cash balance stands at £122.1m, up from £8.6m. |
| There was increased income generated from matchday revenues and its TV rights, particularly from the elite Champions League competition. | There was increased income generated from matchday revenues and its TV rights, particularly from the elite Champions League competition. |
| Media revenues rose 33% to £53.4m. | Media revenues rose 33% to £53.4m. |
| The "Red Knights" group consists of Goldman Sachs economist Jim O'Neill, lawyer Mark Rawlinson and financier Keith Harris. | |
| The Manchester United Supporters' Trust (Must) was at a meeting of the group on Monday, and has been running a campaign to bring about a change of ownership. | |
| A spokesman for the Glazer family has told BBC Sport: "United is not for sale." |