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United debt has fallen

02 Mar 2010 14:50:38

United debt has fallen

Manchester United's owners have strengthened their financial position despite the protests against them after releasing figures showing increases in revenue and profits. With a group of financiers called the Red Knights confirming their interest in a possible takeover, the Glazer family can point to a rising turnover and profits at the club. The figures for the six months up to December show turnover up 19% to £144.7million from £121.7million for the equivalent period in 2008. The club's debt dropped from £538.1million to £507.5million and there were increases recorded in matchday revenues, TV money - particularly from the Champions League - and commercial revenue. Media revenues have increased 33% from £40.3million to £53.4million and commercial revenues up 16% from £33.5million to £38.7million. The total debt of the Red Football Ltd, the Glazers' holding company for Manchester United, was registered at £716.5million at the start of the year. It has led to a renewed protest of the Glazer family's ownership of the club. In the latest development, Goldman Sachs economist Jim O'Neill - acting in a personal capacity - lawyer Mark Rawlinson and merchant banker Keith Harris have launched the Red Knight group and discussed a potential takeover. Meanwhile, United have dropped to third place behind Real Madrid and Barcelona in the latest 'rich list' of European clubs. The Deloitte Football Money League sees the two Spanish clubs secure the top spots but mainly due to the continuing decline of the pound against the euro. Deloitte Football Money League - 2008-09 revenue, (last year's position in brackets): 1 (1) Real Madrid £341.9million 2 (3) Barcelona £311.7m 3 (2) Man Utd £278.5m 4 (4) Bayern Munich £246.6m 5 (6) Arsenal £224.0m 6 (5) Chelsea £206.4m 7 (8) Liverpool £184.8m 8 (11) Juventus £173.1m 9 (10) Internazionale £167.4m 10 (7) AC Milan £167.4m 11 (15) Hamburg £124.9m 12 (9) Roma £124.7m 13 (12) Lyon £118.9m 14 (16) Marseille £113.5m 15 (14) Tottenham £113.0m 16 (13) Schalke £106.0m 17 (n/a) Werder Bremen £97.7m 18 (20) B Dortmund £88.1m 19 (n/a) Man City £87.0m 20 (17) Newcastle £86.0m What is your verdict on the figures? Have your say.


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