Despite the loss of players to injury and others, and the grueling match schedule ahead, Manchester United only had the option of bringing in players on loan during the January transfer window.
That’s due in part to the summer outlay and the fact that the Glazers are contemplating a full sale of the club.
The American owners are not liked by everyone of the United persuasion and their decision before they leave will make fans even angrier.
Glazers to leave behind the mountain of debt
According to The Mirror, “Manchester United’s owners plan to put behind them the £500m debts they have accumulated at Old Trafford.
In a final cruel twist of grief, the Glazer family’s proposed plan to sell football’s biggest club for £6bn will also include an understanding that they will walk away from the financial mess that is driving them to finally leave Manchester. ”. the report said.
The latest reports show the Red Devils’ debt at just under £515m, which rose after the club ended up using a £100m credit facility during the COVID-19 period.
#MUFC owners plan to put behind them the £500m debts they have accumulated. The Glazer family’s proposed plan to sell football’s biggest club will also include an understanding that they will steer clear of financial disaster via @MullockSMirror.
– Stretford Paddock (@StretfordPaddck) February 4, 2023
The amount is considered ludicrous considering the £790m purchase of Glazers in May 2005, which included £550m of leveraged debt.
Fans have always disliked the owner for this fact, as well as taking annual dividends and not spending his own money during the transfer window.
“They have taken out around £1.6bn in dividends and management fees, debt repayments and share sales,” the article added.
Huge headache for new owners
The new owners will have to pick up the pieces of their financial disaster, as well as pay a large amount to the family, which current reports indicate could be as high as £8bn.
In addition to the investment in the team, the training facilities at Carrington, as well as the renovation or rebuilding of Old Trafford, are also agendas that the new owners will need to undertake.
Sir Jim Ratcliffe, Britain’s richest man, has confirmed his interest in addition to buyers from the Far East, the Middle East and the United States with the Raines Group handling the sale.
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