Man United Avoid Credit Crisis
The Glazer family is confident Manchester United will not be affected by the credit crisis.
Some teams have already started to feel the affects of the global financial meltdown, following years of overspending by the clubs.
Billionaire owners at Chelsea and Manchester City are able to handle the cash troubles but Manchester United were expected to struggle.
The Red Devils are GBP 660 million in debt following the Glazer's takeover in 2005, but the club is still able to generate massive revenue world-wide.
"The credit crunch is not having a negative bearing on United," the Glazers said.
"We continue to benefit from the sell-out of Old Trafford and the growth in commercial operations.
"We refinanced back in 2006 and that structure provides long-term stability. The debt continues to be comfortably serviced by the club's strong growth in cash flow."
(Soccer365.com)
