February 11th in News by jason2009 .
Old Trafford Mortgaged
The painfully endebted Man United had to put the jewel in the crown up as security for its bond sale…
The club, once renowned amongst its peers for its financial nouse, has ended up heavily in hoc with the Glazer ownership.
Business Week: Manchester United, the 18-time English soccer champion, included its stadium and training ground as security in its 504 million-pound ($785 million) bond sale, according to documents filed with U.K. regulators. The club took out the mortgage on Jan. 29 with J.P. Morgan Europe Ltd. named as security trustee for creditors, according to a filing published by Companies House.
