Ferguson eyes Juventus stars after cash boost
Under a refinancing scheme, the club said that an agreement has been made which will see their annual interest payments slashed by almost 30%.india Updated: Jul 18, 2006 18:39 IST
Manchester United boss Sir Alex Ferguson saw his transfer kitty boosted on Tuesday and immediately set his sights on the potential clear out of players at scandal-hit Italian giants Juventus.
Under a complex refinancing scheme, the Old Trafford club said that an agreement has been made which will see their annual interest payments slashed by almost 30-per cent.
The plan will see charges on loans fall from 90 million pounds per year to 62 million pounds.
United's overall debt has still increased to 660 million pounds under the plan, but the club has been able to cut the amount borrowed at huge cost from hedge funds.
"This move represents good housekeeping," said a club spokesman.
"It ensures that Sir Alex Ferguson will be provided with sufficient funds to compete in the transfer market."
Any money available could be used to finance a move for any one of a host of stars expected to seek an escape route from Juventus who were relegated to Serie B for their part in the Italian match-fixing scandal.
"We held things back until we knew what the Juve situation was," Ferguson.
"Now we know where we're going in terms of making inquiries and maybe definite offers for one or two players."
Meanwhile, Ferguson is convinced Ronaldo will be able to cope with fans berating him for his recent behaviour. The Portugal winger was vilified in England for his part in the sending off of Wayne Rooney.