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Interest will eat up Liverpool profit
England - 01 February, 2008
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English Liverpool will see its profit whittled away by interest payments.
The 2007 profit will go toward the GBP 30 million interest that comes with last week's GBP 350 million refinancing.
As much as owners George Gillett and Ton Hicks wanted to show they were different from the Manchester United Glazers, their debt-laden takeover is strikingly similar. Manchester United's interest is GBP 42 million, while Liverpool is at GBP 35 million.
Manchester United, at least, pulled in a record profit. Liverpool also must worry about putting up a new stadium.
The 2007 profit will go toward the GBP 30 million interest that comes with last week's GBP 350 million refinancing.
As much as owners George Gillett and Ton Hicks wanted to show they were different from the Manchester United Glazers, their debt-laden takeover is strikingly similar. Manchester United's interest is GBP 42 million, while Liverpool is at GBP 35 million.
Manchester United, at least, pulled in a record profit. Liverpool also must worry about putting up a new stadium.
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