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To the tune of nearly £650 million, according to this click here
It seems to me that any other normal company with such a deficit would be struggling to stay afloat. "That debt is a ticking time bomb that they have to pay off" sounds rather ominous to me and I'll bet other top clubs are getting rather nervous as their financial data emerges. TC.
Was the amount of debt they are in not caused by the new owners Glazers (spelling?) buying the Man U shares and then when they became owners the loans/debt taken out became Man Utd's and not the Glazers
WELL its been a issue for years about the pay of some of the players like £55K PER WEEK how is that justified?
i know the player bring millions into the club but there is no way some of them deserve THAT kinda wage!
I suppose the club could start there.?
I don't think it is just Manchester United's problem, I'm sure I read sometime ago about other top football clubs being in the same predicament.
The way things are going at the moment, I have a feeling that the tax payer will bail them out. On a serious note though, the wages are unbelievable for people who ponce about on a field...sometimes twice a week, the poor little lambs. Of course no one is going to say no when they are offered £100k/week but to put it in some perspective, the PM of UK PLC gets less than £200k/year but he does have free use of a couple of jolly nice Des. residences. One would imagine that sponsorship will be difficult to come by in the next year or so, especially as AIG are giving them the heave-ho. I shall not be worrying one little bit about this or any other footie teams who have financial problems.
It's a case of supply and demand.
If you don't have quality players then you don't win the honours; if you don't win the honours then you won't qualify for the Champions League and similar big cup competitions with their big financial rewards for success.
Therefore, to bring quality players to a club, it has to meet the wages sought by such players.
They are, after all, merely employees and able to demand what they know they are worth to clubs.
Anyone would do exactly the same in the circumstances, especially as it's a comparatively short career and there's always the risk of serious injury or losing form.
But some of the blame must be laid at the feet of often greedy agents who set up transfers and wages deals, without having to actually kick a ball themselves to enjoy a life of luxury.
Don't think it's just confined to Man. Unt. with huge debts, either. Other big clubs in similar situation.
and the club I support (Arsenal) has a considerable amount of debt, mainly as a result of building the Emirates stadium. I'm afraid I'm with GANDALF <|:-)> however, when he says "I shall not be worrying one little bit about this or any other footie teams who have financial problems."
The reason is that big football clubs have got themselves into this position, and they'll get themselves out, or die. Football is big business, and it must sink or swim by big business rules.
my Arsenal supporting wife to say that the return on the sale and development of the old Highbury ground area will go a long way in reducing it.
Putting my life in jeopardy, I then showed her this link - click here - which ruffled her feathers somewhat. Reading it, she did come to realise that the recession had put paid to any short term cancellation of her club's debt. She was pleased, however, to see that the amount owing was no way near to that of Man United, so I'm also pleased to say that I got off lightly this time! :o)) TC.
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