23 May 2013 23:19:24
Just to cheer Klooty up -

United have refinanced a lot of debt - therefore reducing the interest payment by approx 10mil pa (stirling). From 31 mil to 21 mil.

Thats an extra 10 mil to play with a year - compared to Liverpool who loose around 40 mill a year.

Maybe just maybe - we are not in such a bad position afterall.

1.) 24 May 2013
We shouldn't be happy until we are paying £0 in interest on £0 of debt.

It is a step in the right direction though.

2.) 24 May 2013
According to andersred that shouldn't be very long at all

3.) 24 May 2013
24 May 2013 07:03:39
Yes but maybe you're now paying it over 30 yrs and not the original 15 yrs. That's invariably how those things happen. Wouldn't trust those thieving yanks. ;-)

4.) 24 May 2013
No name, apart from we were never paying the previous debt over 15 years. The other half of the bond debt matures in 2017. By then a lot of the £360m debt will be gone and interest will be lower than £10m a season. Until it dwindles down to nothing. The only thing that is changing is the interest rates, not the length of the debt.

To put all of this into perspective, in 2008 we were paying £68.8m a season on debt interest, that's 73% of the revenue going on interest. NOW just 12% of the revenue will go towards interest. We should never have been in this position in the first place, but I am glad we are clearing it one way or another.

Sydney!

5.) 24 May 2013
Sorry, that's 73% of operating profits, not the revenue.

Sydney!