Mancs In The Red

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Deggsy56

Dekker
Best news I've read in last 8 wks. Apparently the Mancs are in debt to the tune of £249m ! Long may it continue and serves them right for paying wages in excess of 250k spending 90m on players. Maybe they'll now have to budget like the rest of the club's who can't compete on their level. This CV 19 might even make the PL a level field when all clubs have to tighten they're belts.No love lost from me. I hate them with a passion above all others !
 

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Best news I've read in last 8 wks. Apparently the Mancs are in debt to the tune of £249m ! Long may it continue and serves them right for paying wages in excess of 250k spending 90m on players. Maybe they'll now have to budget like the rest of the club's who can't compete on their level. This CV 19 might even make the PL a level field when all clubs have to tighten they're belts.No love lost from me. I hate them with a passion above all others !
Its more like £450 million and rising @ £20 mil a month ..
 
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They have had (probably still have, or at least on % terms with other clubs who all had their revenues affected) the revenues to deal with it.

The big story with them has been the amount that has been flowing out of the club on finance & interest charges since the Glazers performed their leveraged purchase, currently as of these latest set of accounts stands at a net of £827,800,000!! This doesn't include dividends and salaries.

Another story making the rounds this morning which we'll have to wait another year or so to gauge if it's anything relevant is that United's third-quarter results reveal it had cash to spend £3.6m to buy back shares to prop up the share price & can pay £11m dividend to owners (78% to Glazers) on 3 June but chose to defer its £10m VAT bill last quarter for a year.

The accounts also state that they are currently being investigated by HMRC on other tax matters relating to players and third parties:
 
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