Manchester United owners in no rush to pay off debts
Despite the fact that the interest rates on a portion of the Manchester United debt could increase to 16.25% from August 2010 there are no plans for the Glazer family to pay off the company's debt. This has been confirmed by the company over the last few days to the dismay of many Manchester United fans who believe that the debts should be repaid as soon as possible. So what is going on within Manchester United football club?
Since the controversial takeover by the Glazer family the debt within the club and the holding company has increased significantly. However, at the same time the company has still invested heavily into the player pool and been relatively successful since the American owners took over. The Glazer family certainly do things their own way with regards to investments and Manchester United in particular although you have to say that the club does not appear to have suffered.
It will be interesting to see how the Glazer family address the problems of the future because ultimately the multimillion pound debt cannot drag on forever. On a side note, it appears that the rumoured bid for the company has fallen by the wayside at least for the moment.
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