Before the Glazers took control of Manchester United, the club was completely debt free.
Post the 2005 takeover, the Glazers’ leveraged buyout of the club dropped a whole host of debt onto The Red Devils.
Suddenly, United went from a club with no debt to one of the highest debts in the world.
This debt, of course, came with large interests payments that the club have been paying off ever since.
It has now been revealed the staggering amount that Manchester United Football Club have paid just in interest due to the debt placed on the club by the Glazer family.
Financial expert Kieran Maguire has taken to Twitter and showed a table showcasing the value.
According to Maguire, the club have paid out £900m to the banks in interest alone.
That’s close to £1bn just in interest, with pre-tax losses of £320m.
No matter what way you look at it, that’s an astonishing amount of money spent that’s not going on the club.
With Old Trafford needing renovation, with managers asking for money to buy players, with the match day experience needing to improve, that money could have been spent instead on improving things around the club.
With data like this, it’s no wonder that fans are looking for the Glazers to leave the club sooner rather than later.
Manchester United have made pre-tax losses of £320 million since the takeover in 2005 and have paid out £900 million in interest to banks. Would you pay £10,000,000,000 for such a business? #Glazernomics pic.twitter.com/GYLY9liOx1
— Kieran Maguire (@KieranMaguire) September 6, 2023