Manchester United’s current debt picture could be one of the key reasons why the Glazer family have now decided to consider selling the club.
United released their financial statement yesterday and it showed that their debt had risen to £535.7million, £58.6m more than the £477.1m of debt the club had a year ago, with United’s revenues also taking a 10 per cent hit over the same period.
Sky Sports reporter Kaveh Solhekol explained how those financials may have persuaded the Glazers to sell now. “If you dig into the accounts, you will see that Manchester United’s debt is up, to £535m,” he said.
“Now, they say that is largely due to the weak pound, but you have to remember that the reason Manchester United have a debt of £535m now is because when the Glazer family bought the club 18 years ago, they bought the club in a leveraged buyout and they loaded £550m of debt onto the club.
“And 18 years later, it still stands at £535m. United were a debt-free club before the Glazers arrived.
“Just looking into these figures gives you an idea of perhaps why the Glazer family think now is the right time to sell Manchester United, especially if they can get the £6billion that they want for the club.”
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