No United ‘meltdown’

A LEADING analyst yesterday tried to allay fears that Manchester United, under Malcolm Glazer, are heading for a financial meltdown similar to Leeds.

The Yorkshire club’s debts spiralled to £103m, leading to a fire sale of players and eventual relegation from the Premiership.

Glazer’s formal offer document displayed a succession of steepling interest charges taking the approximate overall cost of a £265m loan to £570m.