Manchester United’s STAGGERING gross debt figure
REVEALED: Manchester United’s CLEAR gross debt amid historic blemish of Glazer family leveraged buyout
Manchester United’s gross debt is a staggering £725 million.
The for-sale Premier League giants released their third-quarter figures yesterday, taking the historic £521.5million spot from the Glazer family’s leveraged buyout – coupled with £203.7million loans – taking the shine off the news that they expect 12 months of record earnings.
The figure is the highest since 2010 at the same stage of the financial year and comes amid growing frustration among large segments of club support over a perceived lack of progress since the Americans announced last November that they were seeking investment or a sale. . .
On Tuesday, a group of disgruntled fans arrived at Old Trafford’s club shop to protest against the Glazers and demand a full sale. They have timed their visit, which was without incident or arrests, to coincide with the launch of United’s new home kit.
Attendees held up anti-Glazer banners and blocked the store’s entrances – although some fans seeking to purchase the Lancashire rose-inspired jerseys were diverted to separate entry points.
Man United announced a staggering £725 million gross debt with the release of their third quarter results (Photo: co-chairs Joel and Avram Glazer)
On Tuesday, protesters gathered at the club shop to express their frustration with the property
Despite final bids expected on April 28, neither Sir Jim Ratcliffe (left) nor Sheikh Jassim bin Hamad Al Thani are any closer to a takeover at Old Trafford
The group, dubbed The 1958, says they made their point, adding: ‘(The protest) was about sending a statement and the bad optics against this property around the world. The focus shifts to fan scorn against Glazer decay rather than a blatantly overpriced kit launch.”
Elsewhere in the financial report, United said they expect turnover of £630m to £640m this year, which would be a club record.
That figure has been upgraded from previous forecasts and comes from record attendances and matchday revenue generated over the course of last season as Erik ten Hag’s side achieved Champions League football, reached the FA Cup and Carabao Cup Finals and progressed through to the Europa League quarterfinals.
Signs protesting the Glazers’ ownership have been almost constant on game days this season
In total, they sold 2.4 million tickets for the campaign, which was a club record, and they have 360,000 members, which they claim is the largest paid membership in the sport in the world. Season tickets for the upcoming season sold out in record time and United say they have 146,000 on a waiting list.
The above may well be a factor as to why the Glazers seem to be taking their time with offers from Qatari Sheikh Jassim bin Hamad al-Thani and British billionaire Sir Jim Ratcliffe. Despite an April 28 deadline for final bids, no preferred bidder had been chosen last night, with the new season less than seven weeks away.
The Glazers are thought to be seeking around £6bn, and while both offers are north of £5bn, agreement remains elusive.
As Mail Sport previously reported, Ten Hag has a budget of around £120 million, which is heavily influenced by financial fair play rules and would not be significantly altered in the event of a takeover.
