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Re: European football clubs agree to create a Super League
Quote:
Originally Posted by Carth
I remember (way back) when Man Utd were a club in profit every year, and then the Americans moved in 
*strange thing When posting that, I had a vision of Gordon Hill scoring direct from corners . . . he was a player that lad  |
Yup...
https://www.investopedia.com/ask/ans...-much-debt.asp
Quote:
As part of the takeover, the Glazers saddled the club with a large amount of debt. Around £265 million was secured by the club's assets, with the total amount of debt around £660 million.1
This was the first time the club had debt since 1931.11 The loans were provided by large American hedge funds, with interest rates on the debt amounting to approximately £62 million a year.12 A substantial portion of the loans were payment in-kind loans, which the club was paying 16.25% interest on at one point.
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