Monday 7 June 2010

Manchester United owner's debts hit £1.1bn

Manchester United's owners are £1.1bn in debt - £400m more than previously known - after borrowing extensively against their shopping mall business. Mortgage documents seen by the BBC show that the Glazers have borrowed £388m ($570m) against shopping malls and £66m ($95m) against their American National Football League team, the Tampa Bay Buccaneers. In addition to their mortgages in the US, a portion of the Glazer family's £700m Manchester United debt will soon see them charged interest at a rate of 16.25%.

Panorama: Man United - Into the Red, Tuesday 8 June, 22.35  BBC1.