Despite this, United’s own debt still stands at an eye-watering £496m, a full 14 years after the takeover. This money was used entirely to buy United’s shares for the 6 Glazer children #debtjunkies
To look after their financial interests, the Glazers put ex-banker Woodward in charge of United. Over 6 years he has demonstrated nothing but gross incompetence in all sporting matters. ‘He has zero understanding of football’ said Van Gaal this week. #failure #mufc
United’s senior management comprises accountants and ex-bankers (Woodward, Arnold, Judge, Tesayo and others). There is no sporting expertise. The word is that Woodward has appointed a series of “yes men” to senior jobs who “laugh at his jokes”. #shambles #mufc
And this from from @ToeInTheWater1 – who regularly writes about the club finances for our Red News fanzine …
Takeover was in 2005 and debt was £558m. Increased to £777m by 2010 (debt was so high that Ronaldo fee went to repay a small part of it). As at March 2019 debt is £496m £1 billion of United’s money paid out in fees and interest. But amount of debt still at £496m. None of the capital has been repaid since 2011. Interest-only is being paid.
#GlazersOut #WoodwardOut #LoveUnitedHateGlazer