Manchester Utd. to Pay Off 220 Million Pounds of Debt
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Manchester United’s owners agreed to pay off a high-cost payment-in-kind loan worth about 220 million pounds ($353 million), according to a corporate filing by the English soccer club.
Red Football Joint Venture Ltd. will “prepay 100 percent from the outstanding loan on Nov. 22,” the team’s parent company said. The document, called a voluntary free-payment notice, was signed by Joel Glazer, co-chairman of Red Football, and was sent to the holders of the loan. Philip Townsend, a spokesman for Manchester United, declined to comment.