Headline

Featured

Football

Magazine

Beauty Pageants

Home » Football, Headline

The debt crisis

Submitted by on June 7, 2010 – 2:05 pmNo Comment

The Tory toff has been rambling on today about the new media buzz phrase ‘debt crisis’, but when you read past all that old rubbish you will see a piece on the BBC’s website about the seriousness of the Glazers’ debt-ridden ownership of Manchester United Football Club.

A Panorama programme tomorrow night (Tuesday) will carry the full report, but below is a snippet from BBC News website (full online report at http://news.bbc.co.uk/1/hi/uk/10237268.stm).

Manchester United’s owners are £1.1bn in debt – £400m more than previously known – after borrowing extensively against their shopping mall business.

BBC Panorama has found evidence that the Glazer family’s debt levels may threaten their hold on the club.

A spokesman for the American family has said it holds more than £2bn in assets.

But the extent of the debt owed by the Glazers is likely to fuel a continuing revolt by some supporters, who oppose their ownership of the club.

Leave a comment!

You must be logged in to post a comment.