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rob237

Manchester United debt hits £716 million...

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"...Debts at the parent company of Manchester United have increased to £716.5m ($1.17bn), according to its latest accounts..."

http://news.bbc.co.uk/1/hi/business/8470595.stm

How on earth can that level of debt be tolerated by the footballing powers?

Compare Portsmouth FC, who are in real danger of extinction for having a debt miniscule to Man U!

Pompey debt owed to HMRC, and other clubs...seems mega debts to American owners are tolerable, but why?

Cheers

Robt P.

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I asked this very same question to somebody last night and was told "It's managed debt" ie the funds are always there to pay the creditors,and they don't owe to the important people , ie the tax man. Where Portsmouth (and Notts for that matter) have gone wrong is that they owe unpaid tax. (In Man U and the others of their ilks case they can write a lot of it off to tax, and get a refund !!!!

The FA took the TV funds from them to pay their creditors who themselves would be in dire straites money wise if it were not for an emergency cash boost!!

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Sad to say that two of the leagues oldest clubs look doomed this evening, as takeover talks fail, and both plunge into insolvency.

Bury FC, and Bolton Wanderers fans have my deepest sympathy. I've been to both clubs many times, and the loyal  fans don't deserve this. A sad day indeed. 

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And the greed in our game is reponsible,, probably a weeks wages from many a premiership player,,would save em,,

The lion of Vienna"" will be turning in his grave,,to say nothing of the poor supporters, who died at the Burnden park disaster,,

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Exactly Ben. The Premiership players have a lot to answer for. Greed and avarice prevail I'm afraid.

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