LONDON (Reuters) – Manchester United is considering a 600 million pound ($954 million) bond issue as part of the Premier League soccer club’s battle to bring its spiralling debts under control, reported the Sunday Times.
The Glazer family, the American leisure tycoons who bought the club in 2005, have asked two investment banks to look at ways of easing the debt burden, the newspaper said.
JP Morgan, the U.S. bank that engineered the Glazers’ 790 million pound takeover of the club, and Deutsche Bank, have been working on options to improve the club’s financial situation amid concerns that its debts could soon have serious repercussions, the Sunday Times said.
No-one at Manchester United was immediately available for comment
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