I have read only bits and pieces in the media. Should have stricter ownership rules and rules that govern debt to assets or something like that. Germany has something of the sort. UEFA should introduce it and teams that don't meet the criteria aren't allowed to participate. That should put pressure on national governing bodies to put the same in place for their leagues.
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when two of the great sides of the English domestic game are in such financial disarray it's more than time to get that broom out.
525 000 000 pounds borrowed to buy MUFC
some of this was from hedge funds @ 14.25% interest
despite record turn-over in 2008 (and winning Prem and CL)
the interest on this still means an operating loss of 45 000 000 pounds
the majority of the turnover profit is local... in that it's ticket sales/Old Trafford
less than 2% is from overseas
so if MUFC totally disenfranchise the locals exactly how is this economic program sustainable?
not that I am suggesting it is anyway...
when two of the great sides of the English domestic game are in such financial disarray it's more than time to get that broom out.
525 000 000 pounds borrowed to buy MUFC
some of this was from hedge funds @ 14.25% interest
despite record turn-over in 2008 (and winning Prem and CL)
the interest on this still means an operating loss of 45 000 000 pounds
the majority of the turnover profit is local... in that it's ticket sales/Old Trafford
less than 2% is from overseas
so if MUFC totally disenfranchise the locals exactly how is this economic program sustainable?
not that I am suggesting it is anyway...
https://soccernet.espn.go.com/news/story?id=728507&sec=england&cc=3436
Some titbits from the story:
[quote]Manchester United's parent company's overall debt has swelled to �716.5 million, latest accounts reveal...
Red Football Joint Venture paid out �68.5 million in interest on their debts in 2009 but unlike the previous year, returned an overall profit of �6.4 million in 2009. In 2008, they returned a �47 million loss.
The profit can almost entirely be explained by the sale of Cristiano Ronaldo to Real Madrid in the summer for �80 million.
Red Football Joint Venture's accounts record an �80.7 million profit on ''disposal of players'' compared to a �21 million profit in 2008.