Debt costs push Manchester United to a loss of £84 million



The critics of Manchester United's American owners were given further ammunition when the club announced they had made a full-year loss of £84 million (Dh491m) due to managing the cost of their debt.

The club, third in the Premier League, made a record operating profit of £101m thanks to increased broadcasting and commercial income but made a loss when interest charges and the cost of restructuring debt were added on.

The club also marked down their value due to the fluctuating exchange rate and a reduction in the value of the playing squad. They had lower match-day revenues compared to last year due to the side's exit from the Champions League in the quarter-finals and the FA Cup in the third round. The news will add to a debate in Britain about club ownership after rivals Liverpool agreed a sale to new owners in a bid to rid themselves debts of millions of pounds which had limited their ability to buy new players.

Many United fans also believe their club have been limited in the transfer market, at a time when Manchester City have spent heavily on new players under wealthy new owners. Sir Alex Ferguson, the United manager, and David Gill, the chief executive, have consistently claimed United's lack of involvement in the transfer market is attributable to the difficulty in finding value, with both insisting the funds would be made available if they were required.

The Glazer family bought United, one of the most famous football clubs in the world, in 2005 for about £790m in the face of a wave of protest from fans who feared they would load it up with too much debt. The club's debt has since swelled and supporters have staged a series of protests in a bid to push out the American owners. An attempt by wealthy supporters to mount a takeover stalled earlier this year, and the owners have said they have no intention of selling.

For the year to the end of June, United's gross debt rose slightly to £522m. The club also have so-called payment-in-kind loans of around £200m which have a higher rate of interest.

MATCH INFO

Newcastle United 1 (Carroll 82')

Leicester City 2 (Maddison 55', Tielemans 72')

Man of the match James Maddison (Leicester)

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Brief scoreline:

Al Wahda 2

Al Menhali 27', Tagliabue 79'

Al Nassr 3

Hamdallah 41', Giuliano 45 1', 62'

How green is the expo nursery?

Some 400,000 shrubs and 13,000 trees in the on-site nursery

An additional 450,000 shrubs and 4,000 trees to be delivered in the months leading up to the expo

Ghaf, date palm, acacia arabica, acacia tortilis, vitex or sage, techoma and the salvadora are just some heat tolerant native plants in the nursery

Approximately 340 species of shrubs and trees selected for diverse landscape

The nursery team works exclusively with organic fertilisers and pesticides

All shrubs and trees supplied by Dubai Municipality

Most sourced from farms, nurseries across the country

Plants and trees are re-potted when they arrive at nursery to give them room to grow

Some mature trees are in open areas or planted within the expo site

Green waste is recycled as compost

Treated sewage effluent supplied by Dubai Municipality is used to meet the majority of the nursery’s irrigation needs

Construction workforce peaked at 40,000 workers

About 65,000 people have signed up to volunteer

Main themes of expo is  ‘Connecting Minds, Creating the Future’ and three subthemes of opportunity, mobility and sustainability.

Expo 2020 Dubai to open in October 2020 and run for six months

The language of diplomacy in 1853

Treaty of Peace in Perpetuity Agreed Upon by the Chiefs of the Arabian Coast on Behalf of Themselves, Their Heirs and Successors Under the Mediation of the Resident of the Persian Gulf, 1853
(This treaty gave the region the name “Trucial States”.)


We, whose seals are hereunto affixed, Sheikh Sultan bin Suggar, Chief of Rassool-Kheimah, Sheikh Saeed bin Tahnoon, Chief of Aboo Dhebbee, Sheikh Saeed bin Buyte, Chief of Debay, Sheikh Hamid bin Rashed, Chief of Ejman, Sheikh Abdoola bin Rashed, Chief of Umm-ool-Keiweyn, having experienced for a series of years the benefits and advantages resulting from a maritime truce contracted amongst ourselves under the mediation of the Resident in the Persian Gulf and renewed from time to time up to the present period, and being fully impressed, therefore, with a sense of evil consequence formerly arising, from the prosecution of our feuds at sea, whereby our subjects and dependants were prevented from carrying on the pearl fishery in security, and were exposed to interruption and molestation when passing on their lawful occasions, accordingly, we, as aforesaid have determined, for ourselves, our heirs and successors, to conclude together a lasting and inviolable peace from this time forth in perpetuity.

Taken from Britain and Saudi Arabia, 1925-1939: the Imperial Oasis, by Clive Leatherdale

Tree of Hell

Starring: Raed Zeno, Hadi Awada, Dr Mohammad Abdalla

Director: Raed Zeno

Rating: 4/5

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Jigra
Director: Vasan Bala
Starring: Alia Bhatt, Vedang Raina, Manoj Pahwa, Harsh Singh
Rated: 3.5/5
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THE SPECS

2020 Toyota Corolla Hybrid LE

Engine: 1.8 litre combined with 16-volt electric motors

Transmission: Automatic with manual shifting mode

Power: 121hp

Torque: 142Nm

Price: Dh95,900

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Company%20Profile
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