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Manchester United Owners Said to Use Team to Pay Debt

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"Manchester United’s owners will use cash from the 18-time English soccer champion to reduce hedge- fund debts that helped pay for their 2005 takeover, said an investor familiar with the matter. The Glazer family is trying to raise 500 million pounds ($816 million) in a bond issue, and plan to wait before using 70 million pounds to pay their debts to avoid negative publicity, club officials told the investor, who attended a sales presentation and declined to be identified. The option to transfer the cash to the Glazers is outlined in bond documents."
SOURCE:   Bloomberg