Manchester United announced Friday a full-year operating profit of $158.7 million (£100 million), but an overall loss for the financial period up to June 2010 of $132.67 million (£83.64 million).
The figures make Manchester United the first English soccer club to crash through the £100 million profit barrier, but the losses will raise more questions over the team’s controversial American owners, the Glazer family.
There have been rumors of a United takeover bid from the Red Knights group, but the Glazers have been unwilling to do business.
United have been able to make greater use of their instantly recognizable name and the club’s enduring popularity around the world to record the operating profit. However, the profits have been overshadowed by the detail of their overall losses.
Interest payments on loans accounted for $63.48 million (£40 million), while there was also a hefty one-off cost for the successful $799.85 million (£504 million) bond issue earlier this year.
