Manchester United

[Chazza]

Pete O'Rourke @SkySportsPeteO
Rio Ferdinand agrees new Manchester United deal. #MUFC

[Rigadon]

Pete O'Rourke @SkySportsPeteO
Rio Ferdinand agrees new Manchester United deal. #MUFC

Uefa reveals new drug-testing plans - BBC Sport

http://www.bbc.co.uk/sport/0/football/22643157

[Chazza]

LONDON (AP) - Manchester United announced Thursday that more than $290 million of its high-interest debt has been refinanced, cutting the club's interest costs by around $15 million a year.

Fresh from winning a 20th English title and undergoing an apparently smooth managerial succession, United said it has secured a new loan from Bank of America with far lower interest rates.

United has refinanced 177.78 million pounds ($269 million) of outstanding 8.75 percent interest sterling bonds and $22.09 million of 8.375 percent dollar bonds.

The new loan from June 24 will have an estimated starting interest rate of around 2.78 percent. Interest payments should come down from around 31 million pounds to 21 million pounds per year ($31.7 million), United said in a statement.

United, which is owned by the American Glazer family and listed on the New York Stock Exchange, has approximately halved its total debts to 370 million pounds ($559.4 million) in three years.

The refinancing package appears to indicate investor confidence in both the business and the first managerial change at Old Trafford since 1986, with David Moyes replacing Alex Ferguson.

"It shows that the infrastructure is in place and the decision they made on the managerial front is viewed as, not negative, but positive," Majid Ishaq, managing director of financial advisory group Rothschild, told The Associated Press.

"They are in a position today where they have gone back to the market to refinance that particular part of the financing on very attractive terms because they have really delivered, and grown the underlying revenue and profitability."

United said earlier this month it is on course to generate more than 350 million pounds ($530 million) this season after earning a record 91.7 million pounds ($139 million) in the three months to March 31. Net profit more than trebled year-on-year to 3.6 million pounds ($5.4 million) in the third quarter.

"United is unique in that they have a great historic brand, and they have managed to derive value from that history and heritage in a very commercial way," said Ishaq, a football finance expert. "That's a big positive for investors."

http://m.apnews.com/ap/db_307134/contentdetail.htm?contentguid=7SbzzuLP

[Chazza]

Sounds like Mike 'no trousers' Phelan and Eric Steele have been given the elbow.

[spud_gun]

Sounds like Mike 'no trousers' Phelan and Eric Steele have been given the elbow.

Moyes bringing in his own staff?

[Chazza]

Steve Round and Chris Woods at a guess.

[Tee]

Excellent news. Things seem to be going better than expected.

[Exiled_red]

Excellent news. Things seem to be going better than expected.

[RichC]

Quite amusing

http://uk.eurosport.yahoo.com/blogs/world-of-sport/robin-van-persie-mocks-piers-morgan-sending-title-112419630.html

[Muddled]

I see the Manchester United PR team aren't getting any time off:

Manchester United are planning a shock £25m move to bring Barcelona's former Arsenal midfielder Cesc Fabregas, 26, back to the Premier League.

*ANOTHER* star player linked through the media that will not arrive at Old Trafford. I'm sure Ronaldo will get a couple of days worth of linkage shortly.

[RichC]

I hate to say it but I think this summer the Mancs will back their new manager with at least one marquee signing, Barca might look to move a couple on.

[Muddled]

I do think Moyes will have cash to spend, but after being linked with Fabregas, Ronaldo et al, I believe they'll end up with Fellaini, Baines and a bang average striker to replace Rooney.

I agree with your point on Barcelona and how they will look to trim their squad, but I believe Villa will end up at Arsenal or Spurs and Sanchez will head back to Italy.

[RichC]

It will be interesting to see to see who they do actually bring in. You're right though their PR machine never stops working and being linked to top players.

I'm hoping Moyes ends up as their Souness

[Muddled]

It will be interesting to see to see who they do actually bring in. You're right though their PR machine never stops working and being linked to top players.

I'm hoping Moyes ends up as their Souness

Interesting is right. I'm looking forward to seeing who he does bring in and see if Moyes starts his tenure tweaking or rebuilding. As for Moyes being their Souness ... well that would just be aces.

Let's hope Moyes replicates Souness' foray into Scotland and Scandinavia.

[G]

Good news on that front, Paul Stewart and Julian Dicks are both available!