As well as explaining why Manchester United haven’t spent the £80m from Cristiano Ronaldo’s transfer, Glazers spokesperson, Tehsin Nayani, has given an update on the current debt situation.
“We do have debt service and carry a significant amount of debt,” said Nayani. “But our interest payments are around £43.3million a year while our operating profit was £80million topped by an extra £25m from transfer profits. So we are talking about a net amount of about £60m. That’s cash that can be reinvested in the squad, doing up the toilets or new carpets. The point is there is money coming into United. One thing that is certain, because of globalisation and the growing middle classes in India and the Far East, the appeal of football is set to grow. We are part of that story.”
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