Manchester United’s gross debt has reached a staggering £725 million, according to the club’s recently released third-quarter figures. This includes a historic burden of £521.5 million resulting from the Glazer family’s leveraged buyout and additional borrowings of £203.7 million. Despite expecting record revenues for the year, the mounting debt has sparked frustration among a large section of the club’s fanbase, who perceive a lack of progress since the Glazers announced their intention to seek investment or a sale in November last year.
In response to the Glazer ownership, a group of disgruntled fans named The 1958 protested peacefully at the Old Trafford club shop during the launch of United’s new home kit. They displayed anti-Glazer banners and temporarily blocked store entrances. The protest aimed to express fan discontent with the Glazer regime, overshadowing the kit launch.
The financial report also highlighted Manchester United’s optimistic revenue projections of £630 million to £640 million for the year, which would be a club record. These revised figures are attributed to last season’s record attendance and matchday revenues, driven by the team’s achievements like Champions League qualification and reaching the FA Cup and Carabao Cup finals. The club achieved a record sale of 2.4 million tickets and boasts 360,000 members, the largest paid membership in world sport. Season tickets for the upcoming season sold out quickly, with 146,000 fans on a waiting list.
Despite reported interest from Qatari Sheikh Jassim bin Hamad al-Thani and British billionaire Sir Jim Ratcliffe, the Glazer family has yet to finalize a preferred bidder. The Glazers are seeking a valuation of approximately £6 billion, and while both offers surpass £5 billion, an agreement has not been reached. The impending start of the new season adds urgency to the situation, as the club needs a clear direction moving forward.