Sunday, September 09, 2007

Glazers' borrowing out of control?

The Manchester United Supporters Trust (MUST) is set to reveal a report to the City that claims the Glazers' interest on their borrowing has reached a colossal £100m a year. The Glazer family recently transferred their debts which helped to finance the purchase of the club onto Manchester United and fans should be extremely concerned about the news, as no football club can stand crippling interest payments of this magnitude.

A spokesman for the Glazer family has predictably denied the report. No matter, the report will make interesting reading. This latest news comes on the back of several stories which have suggested that the Glazer family could be looking for a way of the mess which they have created by selling United on to someone who can afford it, without the need for the massive borrowing.

MUST wants the Glazer family to answer questions about the clubs future, but the Glazer family do not engage with the fans, this attitude is in marked contrast to the openess of Liverpool's new American owners, Tom Hick and George Gillett.

Manchester United supporters have already seen huge price hikes for season tickets since the Glazer family took control of the club and coming on the back of this latest report, fans will no doubt wondering exactly where the club is heading.

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