Glazer family costs Man Utd more than £1bn

Manchester United have paid a total of more than £1bn on interest fees generated from the debt piled onto the club by the Glazer family when they completed their takeover in 2005.

Malcolm Glazer, the late father of the American family which has run United for nearly two decades, borrowed money against the club to secure a leveraged buyout. This approach allows the investor to put very little of their own capital into a purchase but does lumber the club with immense debt, which can become very costly when interest payments are due.

Across the almost 20 years since the takeover was completed in June 2005, Manchester United’s total net interest cost on debt has crept to a staggering £1,06bn, per journalist Kieran Maguire. This season alone, the club have spent £37m on these crippling payments.

Glazer Sr used this low-risk takeover strategy to pile up properties in Rochester, New York in the 1950s, branching out from the watch repair business he took over aged just 15 when his father suddenly died.

Interest payments are not the only outgoings related to the Glazers. The six siblings which split their shares between them after their father’s passing have cashed in more than £150m in the form of dividends over the years.

These controversial payments coupled with an expensive debt have prompted a sustained burst of fury from the fanbase for decades. “Warning,” one fan’s flag emblazoned with a skull and crossbones on it read back in 2005, “using MUFC may result in serious damage to your health.” Ultimately, the health of United has been more gravely damaged.

Outside the Glazers, United’s latest accounts have revealed plenty more unflattering expenditures. The club splurged £21m on firing Erik ten Hag and hiring Ruben Amorim this season. There was also £4.1m diverted towards the sacking of sporting director Dan Ashworth who lasted just 159 days at the club.