Only Rooney’s sale can contain Man U’s rising debt?January 12th, 2010 - 1:13 pm ICT by ANI
London, Jan 12 (ANI): After Cristiano Ronaldo only Wayne Rooney’s sale can get anywhere near the amount the former Manchester United star brought in order to contain the club’s rising debt.
Barcelona and Real Madrid are weighing up 70 million pound swoops for the ace Manchester United striker.
With the interest on the club’s 711.5 million pound debt rising, it seems only a matter of time before United are forced to sell again.
Figures released by United on Monday showed the club made a yearly net profit of 48.2 million pound but they would have actually made a loss if it had not been for the 80 million pound sale of Ronaldo.
Over half of that amount went on to cover the vast interest payments following the Glazer family’s controversial takeover.
Those interest payments are rising but with Ronaldo gone, who will the club sell next to meet the Glazers’ legacy? Only Rooney could get anywhere near the amount Ronaldo brought in and already, The Sun reports.
Out of form players like Dimitar Berbatov and Nani would not bring in a fraction of what United paid for them or what Rooney could rake in.
After announcing the results, the Glazers launched a bid to raise 500 million pounds in a bond issue to try to offload some of that debt.
Their previous bids to refinance have failed; so now the Americans are hoping the issue will attract individual investors.
United currently owe 509.5 million pound in bank loans secured on the club plus a further 202 million pound in loans the Glazer family personally took out to buy the club. (ANI)
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