Mike Ozanian - SPORTSMONEY

It seems that more and more people are deciding to make the transition from the 9-5 grind to the freedom that comes with working from home.  The internet affords hundreds of thousands of people the opportunity to work online from the comforts of their own homes.  The massive use of popular social media networks and tools has made working from home more possible than ever.

Manchester United Still Financially Solid

I just got my hands on Manchester United’s annual report for 2009-10. Since the Glazer family is being hammered in the press for the club’s high debt, net loss of 83.6 million pounds and difficulty selling out Old Trafford this season, I thought it would be worthwhile to check out some numbers to see just how scary the situation is for the Red Devils. Upshot: the club is pretty solid financially, thanks mainly to an 8% year over year increase in operating income (ebitda), to 98.6 million pounds. Also on the plus side were a more than doubling of net current assets, to 769 million pounds and a debt-to-equity ratio that actually improved to 0.7 from 1.1 the previous year. The bad news? Earnings before interest and taxes fell 70%,  to 27.3 million pounds, 15 million pounds short of interest expenses (before exceptional items). So while the Glazer family is not in immanent danger of losing Manchester United the way Tom Hicks and George Gillett lost Liverpool, they do not have a lot of breathing room. For insurance, Manchester United has a 75 million pound line of credit it has yet to tap, and more important is playing well (currently in third place in Barclays Premier League), which bodes will for end of year finances.