Apart from the potential imprisonment of Antony, Manchester United fans are also troubled by the news that their club’s debt has now reached £1 billion.
As the football club with the largest fanbase globally, Manchester United undoubtedly holds a prominent position in terms of commercial success compared to other European giants. However, the latest statistics reveal that the total debt of the Manchester-based Red Devils has reached a staggering £1.005 billion, marking a record figure in the club’s history at Old Trafford.
M.U hit the 1 billion pound debt mark because the Glazer family was too greedy
Just last Tuesday, Manchester United’s stock price plummeted by 18.2%, reaching a low of £15.4 per share. Consequently, the club’s market capitalization rapidly decreased by £600 million, leaving it valued at just £3.3 billion.
Experts attribute this financial struggle to the insatiable greed of the Glazer family. Specifically, the American billionaire family consistently increased the selling price of Manchester United, raising it from £6 billion to £10 billion. This led two wealthy potential buyers, Sheikh Jassim and Sir Jim Ratcliffe, to promptly withdraw from the competition to acquire the Red Devils.
Media outlets in the United Kingdom collectively reported that Sheikh Jassim would only consider purchasing Manchester United for approximately £5 billion. Additionally, the Qatar-based tycoon was even willing to clear the club’s outstanding debts. Despite these generous offers, the Glazer family remained hesitant and ultimately turned them down.
The Glazer family’s sale of Man United is at risk of failure
According to the Daily Mail, Manchester United still owes other clubs £279.8 million in transfer fees for players they have yet to pay. In the recent summer transfer window, the Old Trafford-based club continued to spend £180 million on acquiring new talents such as Mason Mount, Rasmus Hojlund, Altay Bayinidir, Sofyan Amrabat, Andre Onana, Jonny Evans, and Sergio Reguilon.
One noteworthy statistic is that in the 2022/23 season, Manchester United achieved record-breaking revenues of £640 million. Additionally, the Red Devils secured a £900 million sponsorship contract extension with Adidas for ten years.
Many Manchester United supporters argue that the club’s inability to regain its historical stature in recent years is due to the lack of passion and commitment from the Glazer family. Despite their investments in player acquisitions, the Glazers consistently prioritize their personal financial interests, seemingly indifferent to the club’s financial burdens and decline.
