Supporters' Trust says results prove ticket and TV subscription money is servicing debt rather than players and facilities.
Manchester United plc today posted record losses of £83.6m, largely owing to interest repayments on its £522m debt and one-off charges relating to the bond issue that was the catalyst for fierce protests against the club's American owners.
After a week in which Liverpool fans have seen their club fight to ditch owners who left it mired in financial trouble, attention has swung back to the finances of their fierce rivals.HERE
• Chief executive David Gill says there is no pressure to sell
• Supporters' groups seize on losses to slam Glazer ownership
The Manchester United chief executive, David Gill, has said that his club are not about to follow Liverpool into financial meltdown, despite revealing record annual losses of £83.6m which are liable to intensify supporters' protests against the American owners, the Glazer family.
United's losses, which are largely a result of interest payments on a £521.7m debt and one-off charges relating to January's controversial bond issue, were seized upon by supporters' groups as evidence that the Glazers' ownership is undermining the club. But Gill argued that the club's results, which also showed a rise in operating profits to £100.8m, on record turnover, were "very good"HERE