Man U 100 mn-pounds kitty to spend on players

Written by: Super Admin
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London, Feb 1 (ANI): Manchester United has 100 million pounds to spend on players and there are no problems with their debt, which has mounted to 716 million pounds.

That was the astonishing claim from chief executive David Gill, who clearly does not understand what everyone is worrying about.

It was revealed that the debts of Manchester United's parent company, the Red Football Joint Venture Ltd, had swollen from 699 million pounds to 716.5 million pounds.

Several workers have also voiced strong discontent over the club's methods to try and save money on lower-paid staff, The Sun reports.

Debt-ridden United had discontinued free hot meals and soft drinks to their loyal workers' on match days as part of their cost cutting measures.

Asked if he still had the money from Cristiano Ronaldo's 80 million pounds sale, Gill said: "Without doubt. We used 15 million pounds to buy Antonio Valencia but we have well over 100 million pounds sitting in the bank."

And he called talk of a 716 million pounds debt "a misconception", adding: "As of Friday last week, we had 140 million pounds of cash in the group, so our net debt within the group is 360 million pounds."(ANI)

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