Manchester United debt woes worsen
Firm owned by Glazer family owes £716.5m
London : Manchester United's grim week got even worse yesterday when annual accounts revealed that the club's parent company has overall debt which has swollen to £716.5million (Dh4.2 billion).
Tuesday's 2-1 Carling Cup defeat by neighbours Manchester City at Eastlands was notable for the significant number of banners on display expressing opposition to United's controversial owners, the Glazer family.
Protests
Similar protests were attempted at Old Trafford during last Saturday's game against Burnley only for many of the supporters involved to be ejected shortly after kick-off.
Feelings will still be running high against Hull this weekend, though, after news that the company Red Football Joint Venture Ltd, which is owned by the Glazer family, now have debts of more than £700m for the first time. Accounts filed on Wednesday for the year ending June 30 2009 showed the company's overall debt to have increased by £17 million from £699 million.
The biggest rise has come in the payment in kind loans, which typically have a higher interest rate. They show a £27 million increase to £202 million. Bank loans, meanwhile, have dropped by £9 million to £509 million.
— Daily Mail
