Despite the loss of players due to injury and otherwise and the upcoming grueling fixture schedule, Manchester United only had the option of bringing in players on loan during the January transfer window.
That is partly due to the summer outlay and the fact that the Glazers are contemplating a full sale of the club.
The American owners are disliked by everyone from a United persuasion and their decision before leaving will make fans even more livid.
Glazers to leave behind mountain of debt
According to The Mirror, “Manchester United’s owners are planning to leave behind the £500 million debts they have accrued at Old Trafford.
“In one final cruel twist of pain, the Glazer family’s proposed plan to sell the biggest club in football for £6billion will also include an understanding that they will walk away from the financial mess that is prompting them to finally get out of Manchester,” the report read.
The latest reports show that the Red Devils’ debt stands at just under £515 million, which rose after the club ended up utilising a credit facility of £100 million during the COVID-19 period.
#MUFC's owners are planning to leave behind the £500 million debts they have accrued. The Glazer family's proposed plan to sell the biggest club in football will also include an understanding that they will walk away from the financial mess via @MullockSMirror
— Stretford Paddock (@StretfordPaddck) February 4, 2023
The amount is considered ludicrous considering the Glazers’ £790 million buy-out in May 2005 which included £550million of leveraged debt.
Fans have always disliked the owner because of this fact as well as for taking out yearly dividends and not spending their own money during the transfer window.
“They have taken out around £1.6 billion in dividends and management charges, 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 mess apart from paying a huge amount to the family, which as current reports state, could be as high as £8 billion.
Apart from investment in the squad, the training facilities at Carrington as well as either a revamp or rebuild of Old Trafford are also agendas that the new owners will have to undertake.
Sir Jim Ratcliffe, Britain’s richest man, has confirmed his interest apart from buyers from the Far East, Middle East and United States with the Raines Group tasked with the sale.
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