Man Utd facing Financial Loss
March 22nd 2011 16:04
The Glazers Family, Man Utd owners, have admitted that the Red Devils faced a huge financial loss last season. The loss came in at a staggering £108.9 million! The lack of income from selling players also contributed to the loss for the year ending June 30, 2010 - the previous year the company had recorded £21million profit thanks largely to the £80million sale of Cristiano Ronaldo. Last year's losses also included £30.2million interest on their £220million payment in kind (PIK) loans which have since been paid off.
The highest loss recorded by a Premier League club was Chelsea's £132million in 2005.
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