Man United cut interest bill

Manchester United have cut their interest bill by £10million a year after a major refinancing through Bank of America.

Last Updated: 23/05/13 at 22:59 Post Comment

Moyes: Thought to have money to spend

Moyes: Thought to have money to spend

United have refinanced £177.78million of outstanding sterling bonds, on which they are currently paying a rate of 8.75 per cent.

In addition they have refinanced approximately £17million of dollar bonds on which they are currently paying 8.375 per cent.

Through the new loan with Bank of America, club sources estimate they will save approximately £10million per year.

United's present debt is £370million, the sum remaining from a highly leveraged takeover by the Glazer family in 2005.

Despite dire warnings of United's financial position since that time, the Old Trafford outfit have won five Premier League titles and played in three Champions League finals.

With their commercial income rising rapidly, it now seems that United are able to compete in the transfer market, hence the £24million arrival of Robin van Persie last summer.

It is also thought new manager David Moyes will have funds to spend should he wish this summer.


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ou can't blame De Gea for wanting to leave, he has enough to do in front of goal as it is as well as taking on the role of Man Utd's version of Derek Acorah in trying to contact and organise a defence that isn't there.

rodger's gusset
Van Gaal downbeat on De Gea

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f you want to take six points off Arsenal, then that's a great strike force. Can't imagine either of them showing much for the rest of the season though...

foot in mouth
Adebayor & Berbatov: You Have To Admire The Balls

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ooks like Real get their man, most likely at their own valuation, yet again. Resistance is futile.

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