London: Premier League Fulham are now clear of debt after owner Mohamed Al Fayed converted loans totalling more than 200 million pounds into shares in the club.
Al Fayed, the former owner of the Harrods department store, bought Fulham in 1997 and has seen them establish themselves in the Premier League.
Fulham are now clear of debt after owner Mohamed Al Fayed converted loans totalling more than 200 million pounds into shares in the club.
"Following the previous season's announcement of record profits, the most significant development is the Club ending the financial year with no debt, having repaid any external indebtedness and Chairman Mohamed Al Fayed converting his previous loans to the Club into equity," the club said on their website.
(For updates you can share with your friends, follow IBNLive on Facebook, Twitter, Google+ and Pinterest)
Bandh called by BJP in Bihar an eyewash, says JD(U)
Watch: Many temples submerged in Rishikesh
Life and times of Nitish Kumar
Mumbai: Teenager mows down 3-year-old, arrested
The Premier League is an English professional league for association football clubs. At the top of the English football league system, it is the country's primary football competition.
Contested by 20 clubs, it operates on a system of pr ...
Live: BJP says bandh has been a success, calls it an end of Nitish era
Uttarakhand floods, landslides leave 40 dead; over 60,000 stranded
SRK in trouble over 'sex determination' of surrogate child
Days after being elevated as BJP poll panel chief, Modi meets Advani
