The loss by Red Football Joint Venture, the Glazer family's parent company that owns United, include some one-off costs from setting up the £526million bond scheme last year to replace their bank loans, according to accounts filed at Companies House.
The lack of income from selling players also contributed to the loss for the year ending June 30, 2010 - the previous year the company had recorded £21million profit thanks largely to the £80million sale of Cristiano Ronaldo.
Last year's losses included £30.2million interest on their £220million payment in kind (PIK) loans which have since been paid off.
United's club accounts were published in October and revealed losses of £83.6million - the PIK interest payment is not included in the club accounts - but club chief executive David Gill said then there was £165million in the club's bank account and that they were in a healthy position.
Gill said in October: "We have money in the bank so there is zero pressure on that, no pressure at all to sell any star player.
"The philosophy is to retain and attract the best players. We have £165million in the bank but in some ways we would prefer to have £80million in the bank and Ronaldo on the pitch."
The highest loss recorded by a Premier League club was Chelsea's £132million in 2005.
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Dear Glazer family,
Please leave out historic club; we are an institution with a proud history.
You are threatening this.
I don't care if you make a fortune selling our club as long as you stop blighting our club.
Larry
oh dear......
If the Glazers have any decency about them let them put the club up for sale i could nt give a... if they made a billion profit on the sale, As long they go and quick, I,m sorry but i don,t believe Gill when he says there is this massive warchest for Fergie if it,s there then for
sake buy the players we need and get rid of the dead wood in the squad (o.shea gibson,
carrick,brown,kzcuack,hargreaves) theese players are just in the way of the likes of Cleverley,Welbeck,Gill,Morrison. So IF there is this warchest is there then we,ll expect an
influx of players in the close season starting with Costa,Pastore,Kafour plus a keeper and a
couple of defenders. I actually think we need 7/8 players but maybe if the Glazers go
hopefully we will, but then i can dream.
"we would prefer to have £80million in the bank and Ronaldo on the pitch."
You could have if you'd turned the offer down. That's why Arsenal still have Fabregas.
FIFA finally acknowledge George was Best. Pele did tell them many years previous but fifa have always been a tad on the slow side.
Particularly, picked out my bit in the story - For his fans, no-one compared. A banner that fluttered along his funeral route in Belfast said it all: "Maradona good; Pele better; George Best."
http://www.fifa.com/classicfootball/players/player=46539/index.html
If 'Safe Hands' says we're ok then it MUST be true...
The sooner these clowns are out of our club (Gill included) the better we'll be.
It's interesting that this isn't News part of the front page of the website, like City's financial results usually are...
Do we have to rerun these non-stories every time there's a quiet football week? You'll be posting Hargreaves comeback and United track keeper stories next! These figures are for nearly a year ago and follow on from the club figures already debated to death in October and which have been superseded by the numbers posted last month. It's just the figures we talked about then plus the figures for servicing the non-club PIK debt, which as we all know have since been paid off. Further discussion of these figures would be meaningless, particularly so as they aren't even club results.
T&C please tell us your thoughts we are all listening?
My thinking is that this Glazer thing is one betrayal too far and the Glazer public relations pawns should respect the commitment of those who were/are prepared to do something and it is very frustrating to be in a situation where the Glazer ownership clearly is damaging our club and will continue to do so without shame.
Our beloved club is like a passionless sheep who are now in Glazers pen waiting for the shearing to begin. The same people that did not march, did not buy shares and who now make emotional postings on this website to bluster and carp in a failed attempt to cover up their embarrassment at their miscalculated failure to act. Well; you do not pull your wool over our eyes; we know all of you individually.
IF Glazer were a magician and respected our culture and the fans and somehow managed the debt without ruining the team then, if he managed the trick of selling out to an appropriate set of owners whilst allowing us to buy part of the club and with no debt again, then although this is not the Barcelona model of ownership we would be no worse off than we were ago so I think that the new club would become a pure hobby and retain its “pride of the north” status..
I am still waiting for the spin on this one. It's going to be guaranteed funny.
Having said that, what do you expect from the apologists? Some sums.
£100m in the bank ( don't believe it for a nanosecond ) vs £109 loss.
So, new signings are, er, not gonna happen, and more worryingly, who are they
thinking of selling in the summer? Answers on a postcard from Spain or Eastlands.
This is a moral issue even more than financial. Everything has its price except those things which are priceless, and those include faith and loyalty.
Keep 'Mugging em' Malcolm.
Just sell up Glazers ...................PLEASE. L.U.H.C...............
The Glazer's don't give a toss about United the football club, or the United fans.
They do give a toss about how much money they can suck out of this club to keep their other failing business's afloat.
We seem to have lost the will to get rid of these leeches, and while they can get away with bleeding us dry they will continue to do so.
I hate to say it but the Liverpol fans finally got rid of their owners by putting constant pressure on them.
But the troube now is that United have too many fans from the "prawn sandwich brigade", who started supporting United about 1993-4, they aren't really up for the fight to be rid of the Glazer's, so they'll keep taking until they feel like selling and then it might be to late for United.
It's a miracle we're where we are this season with the poor performances we've put in, but that's down to SAF, in the summer we'll need major investment in the team but the big querstion is;
DO WE HAVE ANY MONEY TO SPEND ON WORLD CLASS PLAYERS???
COME THE SUMMER WE'LL FIND OUT!!!
Its a tax write off, don't get excited. Still number one club .
Cue Tooth & Claw (Gill's web user name) telling us all is well.
"Last year's losses included £30.2million interest on their £220million payment in kind (PIK) loans which have since been paid off."
We were forever told by the apologists that the PIKs were nothing to do with United. How come the accounts include 30.2 million interest on the them, then?
Hate the Glazers!!! Rubbish
Crumble, Crumble, Crumble ...................................................
"Abandon ship,Abandon ship - lets all get to Eastlands quickly"
Im sure if SAF sent a nice begging letter to Sheikh Mansour C/O MCFC, Eastlands, Manchester, he would get a little sympathy and most probably a little cheque to help things along !
BLUE MOON IS RISING - RED KNIGHT IS FALLING !
guys how long before we are linked with a take over by the qatar. i think united need to seel a few players, to many dead weight at united. but to be fair to Gill if am not mistaken that comments by him was regarding having to sell rooney to balance the book not sellinh any players at all. i still recong well see more players leaving then coming. well we have 2 sell even with out neville and van da sar and hargreaves we will have 26 player over 21 currentley which will more likley be 22 as we are def getting a keeper who will be older than 21. love 2 see brown owen gibson diouf kusczaka oshea berba leaving the club this summer. love 2 add anderson and oshea 2 the list but they both have recieved new contacts so cant see that happning. i had a lot of hope for anderson but he just isnt consistant enough. for the amount we payed for he should be performing better in more games. i would be happy if we lost all of them and bought in 3 world class players 1 keeper 1 defender and 1 winger. macheda and wellbeck have proved the are good enough to be 1st team players. we have youngster who have the potential and are ready for first team. player who need regular 1st team action for there development in cm clverley pogba rev morris, de lat at his age need regular 1st team football with obertan next season he need to break into the first team or be sold. as he is not developing at eserve level. keeper am not 2 fused as all the keeper we have been linked with are excellent and any 1 of them will do but even if dont get 1 of them i dont think it will a big blow. from what i have seen lingard seems a decent prospect and i would be happy if we get an older keeper for a few year and then linguard takes over with amos being his number 2 some 1 like the bolton keeper Jaaskelainen he is an experience keeper with prem league experience and will do a job for a few years as linguard develops and can take over from him. i would love 2 see united buy sanchez and either rodwell or cahill. all 3 would be better. i rather we sold alot of the dead weights and either give the youngsters the chance or buy a couple of world classs and extremaley tallented players then stocking on average players. its time united made a statment in the transfer market just like chesi did with ther 2 signings. for me that player is sanchez as he is a target for a lot of the big clubs like chesi real and city if we manage 2 get him would show united still have it would be a real statment. lets wait and see should be a intresting summer in many ways.
Man City want the same coach that took them to Wembley last time for good luck.
But they have been told thats not possible as all the horses are dead.
MUFC skint and successful!
United forever, the owners im not so sure
I must confess to be totally useless in the financial aspect of things, but can someone tell me in a layman's language if this is a good or a bad thing? Thanks.
On the 7th day God created, MCFC
I think you'll find that Giod had a rest on the 7th day because he was tired, ring any bells???
I said the Glazer's didn't give a toss about Ujnited.
The prat replied/
I've got a surprise for you NEITHER DO 99.9% OF THE POULATION OF MANCHESTER !
How come you can't fill your ground for cup competitions, both here and in Europe?
Is it because 99.9% of the population of Manchester can't be bothered to support their team in another pahtetic City season?
City, no trophy and 5th AGAIN, cash rich, asset poor!