Manchester United’s owners agreed to pay off a payment-in-kind loan worth about 220 million pounds, 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 in the notice. The document, called a voluntary free-payment notice, was signed 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.
Where will they get the money from?