Manchester United's parent company announces record £104.6m loss

"Manchester United's parent company, Red Football Joint Venture Limited, has announced a record loss of £104.6m for the financial year ending June 2010.

This represents an increase of over £20m from the £83m deficit posted by Manchester United plc, the football club's company, in October.

Red Football Joint Venture Ltd's accounts cited the repayment of a bank loan totalling £526m giving "rise to an exceptional loss on interest rate swaps of £40.7m" and an unrealised currency exchange loss of £19.3m as the main factors for the loss.

The company's previous accounts, for the year up to June 2009, posted a profit of £6.4m due in the main to the £80m sale of Cristiano Ronaldo to Real Madrid.

The total debt is now £590.4m, up from the 2009 figure of £566.1m."


http://www.guardian.co.uk/football/2011/mar/22/manchester-united-record-loss-debt

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Green and Gold till the club is sold.

That'll show the Glazers!