Manchester United $1 Billion In Debt
“Accounts for United’s holding company Red Football Joint Ventures Limited for the year to June 2009 reveal that the total debt secured against United and the Glazer family’s holding increased by £17 million. The debts accrued £68,504,000 in interest, largely paid for by the £80 million sale of Cristiano Ronaldo to Real Madrid. The net effect of the interest burden on the club was to reduce Red Football Joint Venture Limited’s profit to just £6m, while the Glazers’ ultimate holding company recorded a loss of £19 million.” Link
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