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Man Utd parent makes annual loss

Published: 09 Apr 2009 - 11:59:35

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Debt repayments at Manchester United have caused parent firm Red Football Joint Venture to make a £44.8m ($65.6m) pre-tax loss for the year to June 2008. It covers the 2007/08 season, when United won the Premier League and Champions League, and takes the Red Football Joint Venture debt to £649.4m, That is despite an operating profit of £80.4m for the 12-month period. Red Football Joint Venture was set up when the Glazer family borrowed heavily to buy the club for £790m in 2005. That.... read more