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Manchester United debt rises to £716.5 million

The Glazer family have today issued the report and accounts for the Red Football Joint Venture which is the parent company of Manchester United plc. However, the accounts do not make good reading for Manchester United fans with the revelation that debts have risen to £716.5 million with the company now paying in excess of £68 million a year in interest.

This is the first time that the debt associated with Manchester United has risen above £700 million with an increase of £17 million on the previous year. Those who have checked out the report accounts will also be aware that while bank loans fell by £9 million £509 million the value of so-called payment in kind loans increased by £27 million to £202 million. These loans are proving to be very expensive compared to traditional banking debt and the recent announcement of a £500 million bond issue is designed to take away the financial pressure from the company and the balance sheet.

There have been all kinds of rumours floating around the market for some time now with suggestions that either the Carrington training complex or even Old Trafford itself could be sold off and leased back to reduce the debt and improve the financial strength of the company. However, this in itself would basically means selling off the family silver to improve the company's short term financial stability but it would give Alex Ferguson more firepower in the transfer market.

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