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.


Click here for completely free £10 bet with Sky Bet


Related News

Most Commented

Readers' Comments

I

sn'tthis strange. Last season we were worried that we were stuck with a Dinosaur in Moyes while Liverpool and Everton were disappearing into the distance with their young, spritely managerts, playing football from heaven. Progressive managers, they said. Managers who understand the modern game.........

HarryBoulton
Rodgers: The pressure's on

B

eing consistently and unrelentingly dog turd really takes it out of you. Try shadow boxing. That's what it's like watching Liverpool, punching thin air.

sinbadsdad
Neville: Reds need a rest

G

ood list, some crackers in there. For me, I'd have had Steve McManaman for Liverpool away at Celtic in the UEFA cup in 1997. I was in the ground that night and everyone kept screaming at him to make a pass, but he just kept going and going and going...brilliant, and in the dying minutes too.

uncle-muller
F365's Top Ten Counter-Attacking Goals

Footer 365

Champions League: Brendan Rodgers hails 'character' of Liverpool after draw at Ludogorets

Brendan Rodgers hailed the character of his Liverpool team after their 2-2 draw away to Ludogorets in the Champions League.

Champions League: Liverpool must cut out errors at set pieces, says Gary Neville

Liverpool's defensive frailties at set pieces will continue to haunt them, says Gary Neville.

Champions League: Arsene Wenger delighted with Arsenal's new-found defensive solidity

Arsene Wenger praised Arsenal's "focus" as they beat Borussia Dortmund 2-0 to qualify for the Champions League last 16.

Mail Box

Mails: Quit Massaging Mourinho's Ego

That's the message from the afternoon mailbox after it was claimed that the Chelsea boss has transformed Cesc Fabregas into a complete player. Plus, more on Arsenal...

F365: Saving You From Bad Relationships

A cracking Mailbox, with thoughts on Chelsea, Willian, Jurgen Klopp, Brendan Rodgers and Aguero. Plus how Football365 saved one man from an unhappy relationship...

© 2014 British Sky Broadcasting Ltd. All Rights Reserved A Sky Sports Digital Media property