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Hedge fund managers debate a debt for equity conversion at Manchester United |
For the year to July 2006, the Manchester United Group has to make 85% of £57.1 million, and 85% of £89.1 million the year after, or the hedge funds will have the right to appoint 25% of the board – a move that could involve hedge funds dictating a new manager, or even a sale of the Old Trafford stadium in order to maintain debt repayment schedules.
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