REVEALED: Glazers' DISGUSTING Man Utd debt

Tom Weber

• Updated: 16 May 2023 15:39 BST
• 3 min read

With the potential sale of Manchester United seemingly edging closer, it is worth looking at the track record of the Glazers and why they are so hated by Red Devils fans.

Sheikh Jassim and Sir Jim Ratcliffe are the names on every United supporter's lips these days. They can't wait to see the back of the much-maligned Glazer family, who acquired the club back in 2005. Despite the final round of bidding having long since passed, there is still no clear picture of whether it will be the Qataris or Ratcliffe's INEOS that end up in charge at Old Trafford.

While the former may be an unattractive prospect due to Qatar's human rights issues, the latter may also concern United fans, but for different reasons: Ratcliffe is believed to be open to allowing the Glazer brothers, Joel and Avram, to retain a combined 20 per cent stake in the club. But why are the Americans so unpopular?

READ: Man Utd takeover: Details of Sheikh Jassim's ENORMOUS final bid revealed

Massive debts and a lack of expertise

When the Glazers acquired United in 2005, they did so with a leveraged buyout, meaning that the club was in large parts bought with borrowed money. The debt accrued by the Glazers for the acquisition subsequently became United's burden, plunging a pretty much deficit-free side hundreds of millions into debt seemingly overnight.

The amount of gross debt at the time was around £550 million. Over time, it skyrocketed to as much as £700m, but the debt has been restructured in recent times and it stood at £535.7m earlier this year, still an eye-watering sum. That's not all, however.

By August 2022, the Independent could report that United had paid £743m in interest since 2005, while the club still owes as much as £300m on transfers nowadays. Resentment was further stoked by the hire of non-football people like Ed Woodward to oversee footballing matters, which has in turn affected United's competitiveness.

READ: Man Utd takeover: Raine Group and Sheikh Jassim set for talks

Taking all of these things into account, it's easy to see why Red Devils fans and former players like Gary Neville want the Glazers to get out of Old Trafford. "My main concern at this moment in time is that the Glazer family sell and that they remove themselves from the club," Neville recently told CBS Sports, echoing the sentiment of many a fan.