Manchester United get new sponsor


Manchester United have signed a three-year sponsorship deal with Turkish Airlines for an undisclosed sum that could help the c club’s parent company reduce some of its mounting debt.The Istanbul-based company last month signed a three-year, £2.7 million sponsorship deal with European champions Barcelona as it seeks to become a global brand.
Details of the deal with United, who have also raised in excess of £500m through a bond issue, were not disclosed.
“This deal is yet another indication of the global appeal of Manchester United and we are very pleased to welcome them (Turkish Airlines) to the club,” United chief executive David Gill said in a statement on the club’s website.
Under the terms of the deal the airline will fly the team’s players and officials to relevant matches, tournaments and training camps as United’s official carrier.
The English champions said on Wednesday they were more than £700m in debt.
Debts at parent company Red Football Joint Ventures Limited hit £716.5m in the year to June due in part to high interest payments, its accounts showed.
Accounts for the holding company showed the debt had risen by £17m in the year. Net interest for the period was £68.5m.
The debt figures overshadowed profit of £6.4m for the financial year, compared to a loss in 2008 of £42.7m.
In 2009, United won the league title for the third consecutive season and lifted the Carling Cup but lost the Champions League final to Barcelona.
The Manchester club’s finances were also boosted during that time by the sale of Portugal winger Cristiano Ronaldo to Real Madrid for £80m.

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