Tag Archives | Manchester United

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Manchester United plans 2nd refinancing

The downside of the credit bubble continues to impact the UK’s Premier League, and the blog’s own soccer club, Manchester United. Today’s Guardian notes that United were bought by the US Glazer family for £810m ($1.3bn) in 2005, using £540m of debt. Since then, it says this debt has “cost United £340m in cash” in […]

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Credit crunch hits US baseball, UK Premier League

Tom Hicks was a major player in private equity, but then moved on to sports investment via his Hicks Sports Group (HSG). He owns the US Texas Rangers baseball and Dallas Stars ice hockey franchises, as well as a 50% stake in the UK Premier League’s Liverpool FC. Now The Guardian reports that HSG has […]

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Credit crunch hits Premier League

When Manchester United play Newcastle on 4 March next year, the US government will also be playing the UK government. United’s main sponsor is AIG, now owned by the USA, whilst Newcastle’s sponsor, Northern Rock, is also nationalised. West Ham, of course, were sponsored by an Icelandic bank, now bust. The President of the UK’s […]

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