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Manchester United Posts £80Million Pre-Tax Loss

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Football club Manchester Uniter has today reported that it lost in the region of £80 million before tax in the 12 months to the 30th June 2010.

The bulk of this loss has been put down to one-off finance charges of £67m and interest payments totalling IRO £40m.

Without the debts, operating profit rose from £92m to just under £109m, despite falling matchday revenues – put down to a poor UEFA Champions League performance by the club.

The news will surely spark more debate regarding the club’s American ownership and debt profile.

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Editors and staff from the Business Desk at The Global Herald.

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