A expert has revealed the staggering amount of debt Manchester United have paid in interest under the Glazers.
This weekend, a Mail on Sunday report claimed that the Glazers are planning to take United off the market with the plan of putting the club back up for sale in 2025 when they believe their valuation of £7billionn-£10billion will be met.
Sheikh Jassim and Sir Jim Ratcliffe were the only serious bidders by the end of the takeover process but both reportedly fell short of the Glazers' set £6billion valuation.
Amid the claim the Glazers would remain at United, the club’s price on the New York Stock Exchange plummeted by 18.22 per cent on Tuesday, losing value by more than £600million ($753million).
The share price had closed at $23.66 last Friday and fell to as low as $18.83 on Tuesday, closing at $19.35.
The Glazers bought United for £790million back in 2005 in a highly leveraged deal that has been criticised for loading debt onto the club.According to financial expert Kieran Maguire, United have paid out £900million in interest to banks since the Glazers' arrival, due to the club’s debts.
On X, the social media platform previously known as Twitter, Maguire claimed: “Manchester United have made pre-tax losses of £320million since the takeover in 2005 and have paid out £900million in interest to banks.”
And speaking back in July, Maguire revealed that United’s £900million interest payments had affected the club’s transfer business.In an interview with Football Insider Maguire said: “The existence of such large debt 18 years after being acquired by the Glazer family is indicative that they have been happy for others to supply the investment into the club.
“With interest charges exceeding £900million during that period, it has had an impact on the ability of the club to compete in the transfer market.
“There is no evidence that they are in a rush to sell the club either, which of course is going to have a knock-on effect in terms of transfers.
“The Glazer family have been big winners from their ownership period of the club along with the accountants and the bankers.
“It can be increasingly argued that the fans are certainly not in that bracket.“
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