Glazer debt slammed by fans

A LEADING Manchester United fans’ group has attacked owner Malcolm Glazer for taking the Old Trafford club into even deeper debt.

Reports have appeared from a leaked document, circulated in advance of the massive refinancing of the debts Glazer took on to complete his controversial takeover, which indicated United’s debt will rise from the current level of £656m (€978m) to £733m (€1903m) by 2012.

Although United enter the festive programme top of the Premiership, supporters have seized on the massive debt figure — and the news ticket prices will rise by 36% over the next six seasons – as evidence all is not well under the surface.

In particular, the Manchester United Supporters’ Trust (MUST), are pointing to the £135m (€201m) which will be paid out in fees and interest payments by the end of the season and wondering what could have been achieved with such a mountain of cash.