Leaders
Dallmeier

Business Directory

Browse the Directory

Sign Up to the Directory

FC Business Twitter
FC business Linked in
FC Business facebook
FC Business Youtube

Manchester United announce record profits as Glazer family reduces club's debt

Thu 1st Sep 2011 | Money & Finance

Manchester United has confirmed a return to pre-tax profit figure for its last financial year, strengthening its hand ahead of a planned share sale to cut its debts.

The club made £29.7m in the 12 months to June following a loss the previous year on the back of its debt repayment burden.

Revenues rose to £331m - up £45m - with net debt falling to £308m from £376.9m.

The figures bolster the club's position ahead of a planned Initial Public Offering in Singapore.

United's owners, the Glazer family, plan to sell around 30% of the club in the hope of raising more than £600m.

The aim is to cut the debt pile - refinanced through a bond issue last year - while cashing in on the team's huge popularity in Asia.

It is understood the Glazers, who are preparing a pre-marketing package for the sale, plan to issue a dual share class in which buyers wanting voting rights would also have to take an ordinary share.

Such a scheme, unpopular in London, would enable the club's American owners to retain more control of the club than the 30% equity stake they are selling would suggest.

Detailed results available on club's investor relations website.

---------------------------------------------------------------------------------------------------

RETURN TO LATEST NEWS SECTION

SUBSCRIBE TO THE F.C. BUSINESS RSS FEED

 

If you have any football business related news stories you’d like to share then please contact us –agourley@fcbusiness.co.uk or ryan@fcbusiness.co.uk

Add to: Google Google | Yahoo Yahoo | Live Live | del.icio.us del.icio | Digg Digg |

Related Articles

How Football Clubs Source Their Revenue

Thu 22nd Jun 2017 | Money & Finance

It will come as a surprise to no one that football is big business these days. Although players’ wages – especially at the top teams – have increased remarkably, the clubs can pay...

“Why Does Your Club Offer Discounts?” 5 Responses

Tue 6th Jun 2017 | Money & Finance

Following my article last week on the 3 observations about discounts offered on football clubs’ merchandise stores ; I wanted to share some more insight in to the merchandise space. I’ve...

West Ham United announce record season ticket renewals

Thu 1st Jun 2017 | Money & Finance

West Ham United have announced a club record number of season ticket renewals for the 2017/18 Premier League campaign. At Wednesday's 5pm deadline, over 90% of the 52,000 season ticket holders at...

Footballers, their cars, and how many minutes of play it takes to pay for them

Thu 1st Jun 2017 | Money & Finance

Online used car dealership Carspring have researched the vehicles driven by more than 250 of the world’s leading football players. With this information, along with the estimated salaries of...