MANCHESTER United will only be able to use £175 million of the proceeds of its forthcoming £600 million flotation in Singapore to repay its debts, due to the terms of its loans.
The fact that United will only be able to repay just over a third of its debt from the IPO will dismay supporters of the Old Trafford club, as it is paying a massive 8.75 per cent interest to its lenders. Full story
