Source: SKY_Sports
Utd parent company post losses
Manchester United's continuing debt repayments have led to their holding company posting a pre-tax loss of more than £21million for the year ending June 2008.[LNB] Red Football Limited, the company responsible for all debts at United, posted an overall debt of £516.6m, despite an operating profit of £80.4m over the same period.[LNB]That profit represents an improvement of £5m on the previous year, achieved partly thanks to United's triumph in the UEFA Champions League final last May against Chelsea.[LNB]The figures also show United posted a £21.8m profit on the sale of players, including Giuseppe Rossi, Gerard Pique, Chris Eagles and Gabriel Heinze, a figure up £11.7m from the previous year. [LNB]Another of the club's parent companies, Red Football Joint Ventures Limited, posted an overall debt of £649.4m, up nearly seven per cent, but some of that debt is secured on the Glazier family's equity and not the football club.[LNB]
