Manchester United paid more than 1 billion GBP of interest fees that the Glazer family stacked into the club by the Glazer debts when they completed their takeover in 2005.
Malcolm Glazer, the late father of the American family, who has led United for almost two decades, has borrowed money against the club to secure a leveraged buyout. This approach enables the investor to bring very little from his own capital into a purchase, but tried the club with immense debts, which can be very expensive when the interest payments are due.
In the almost 20 years since the end of the takeover in June 2005, the total net interest rate for debt of Manchester United has deleted astonishing 1.06 billion GBP Pro journalists Kieran Maguire. This season alone, the association spent £ 37 million for these paralyzing payments.
Glazer SR used this takeover strategy with little risk to stack the real estate in Rochester, New York, in the 1950s, and branched out of the Watch Repair business, which he took over only 15 years old when his father suddenly died.
Interest payments are not the only expenses in connection with the glasses. The six siblings, who divided their shares after the death of their father, have paid more than £ 150 million in the form of dividends over the years.
These controversial payments in connection with an expensive guilt have triggered a continuing rage from the fan base for decades. “Warning”, the flag of a fan, which was read with a skull and sacrums in 2005, “can lead to serious damage to their health with Mufc.” Ultimately, United’s health was more damaged.
Outside the Glaz, the latest United accounts have made a lot of flattering editions. The club hired £ 21 million when shooting Erik Ten Hag and this season Ruben Amorim. 4.1 million pounds were also derived to discharge the sports director Dan Ashworth, which only lasted 159 days in the club.