updated 7:15 a.m. ET Sept. 1, 2011
LONDON - Manchester United's gross debt dropped by almost 20 percent to $747 million and commercial income increased as the club won a record 19th English title last season.
The club, owned by the American Glazer family, posted a record operating profit of $180 million in the financial year ending June 30. The Glazers also own the NFL's Tampa Bay Buccaneers.
Results released Thursday showed that commercial income soared by 27 percent to $168 million. But half of that income was paid to banks to meet interest costs of $83.4 million.
United recently submitted an application for a partial flotation on the Singapore Stock Exchange to cut debts.
Copyright 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
advertisement
More newsCan diving epidemic be cured?
Chandler: Soccer still believes in the Papal infallibility of referees. But if authorities put a little retroactive beatdown on obvious floppers, the practice would dry up eventually and blow away.
Big spenders
The top leagues in England, Spain and Italy splash out nearly $2 billion on new players as football continued to defy the continent's tough economic climate.
Source: http://nbcsports.msnbc.com/id/44354306/ns/sports-soccer/
mel gibson texas a m robert downey jr bolivia aspirin aspirin mentalist
No comments:
Post a Comment