English Premiership

Glazers 'draining' United - Fan group

2015-05-13 08:14
Manchester United owners, the Glazers (Getty Image
Manchester United owners, the Glazers (Getty Images)

London - A supporters' group has accused the Glazers of taking £1 billion out of Manchester United in the decade since the American family took over the English Premier League giants.

The Manchester United Supporters Trust launched its latest attack on the Glazer's stewardship of the club on Tuesday, the 10th anniversary of their controversial £790 million leveraged buyout of the side.

Now 10 years on, many fans are still unhappy with the way the Glazers borrowed against the club to finance the takeover.

"Not investing a single penny might be considered an 'ownership crime' by fans at most clubs but far worse than that they (the Glazers) have actually extracted colossal sums from Manchester United," MUST said in a press release.

"When all interest and charges on their leveraged buyout is added up, plus money they've paid themselves, plus related debt still on the club, they've taken more than 1 BILLION and it's still rising.

"No owner in the history of football in any country, ever, has taken so much money from a club."

Yet for all the controversy, United have been successful under the Glazers, winning the Premier League five time and the 2008 Champions League - the third time the club had been crowned champions of Europe.

But MUST added that had it not been for mismanagement by the Glazers, United would have eclipsed Liverpool's British record of five European Cups.

United refused to comment on MUST's statement.

 

Read News24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
1 comment
Comments have been closed for this article.

Fixtures
Sunday, 18 August 2019
Sheffield United v Crystal Palace, Bramall Lane 15:00
Chelsea v Leicester City, Stamford Bridge 17:30
Monday, 19 August 2019
Wolverhampton Wanderers v Manchester United, Molineux Stadium 21:00
Friday, 23 August 2019
Aston Villa v Everton, Villa Park 21:00
Logs
Team P W PTS
Previous Results

Date Home Team Result Away Team
Vote

And the 2019/20 English Premiership champions will be ... ?

 
 
Men
Women
Love 2 Meet
English Premiership flutter

Take Sport24's "expert" tips at your peril...

Featured

The 2018/19 Absa Premiership season is in full swing. Will Mamelodi Sundowns retain their title? Or can one of Kaizer Chiefs, Orlando Pirates, Wits, SuperSport United - or another team perhaps - snatch glory from the Brazilians? Be sure to visit Sport24 for all the latest news!

Latest blogs
 

Twitter Follow Sport24 on Twitter

Facebook "Like" Sport24's Facebook page

WIN Enter and win with Sport24!

BlackBerry Stay in the loop on your BlackBerry

RSS Feeds Sport news delivered really simply.

 
There are new stories on the homepage. Click here to see them.