“Not the standard 4-4-2 formation is it? That’s the corporate and financing structure of Manchester United FC. The diagram comes from the prospectus to the £500m senior secured notes offering launched on Monday morning. The document provides a fascinating peak into the structure of the English Premier League champions, acquired by the Glazer family in a £790m leveraged buy-out in 2005, both in terms of its finances and the club’s recent performance on the pitch.” (FI)