Man Utd debts ‘pass £1billion’ under Glazers as Sheikh Jassim left waiting on takeover
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Manchester United’s financial records have been revealed amid their ongoing takeover saga.
Manchester United’s debt has exceeded £1 billion for the first time as the Glazer family continues to stagnate amid the ongoing takeover saga. Qatar’s Sheikh Jassim and Sir Jim Ratcliffe have made multiple bids to take over Old Trafford, but they appear to be no closer to taking over the Glazers as supporters continue to be in the dark.
Recent reports suggest the current owners are ready to backtrack and have decided not to sell the Red Devils as their valuation has not been realized despite offers of over £5 billion from both interested parties. heart. This comes more than nine months since the Glazers first admitted they were open to selling in November 2022.
Fans have continued to stage protests at Old Trafford to protest against ownership now, they have been criticized throughout their 18 years with the club. following a highly leveraged takeover in 2005.
It comes after club shares on the New York stock exchange suffered their largest single-day fall after news broke that the Glazers were considering turning down both Jassim and Ratcliffe, dropping by 18.2 per cent on Tuesday.
Ryan Giggs has become the latest ex-United player to speak out on the takeover saga, as Gary Neville and Rio Ferdinand have led public calls for the Glazers to leave. Speaking on the Webby & O’Neil YouTube channel he said: “It’s the one who’s going to make a difference, the one who’s going to put in significant investment. From the outside, it looks like Sheikh Jassim who’s going to put the most money in, who’s going to own it 100 per cent.
“We need significant investment in both the playing staff, the stadium and the training ground. You need everything. If things weren’t too bad on the pitch, if we were winning games, winning trophies, then you could probably get away with it.
“But we’re not winning games, we’re not winning trophies and it’s just an added pressure for the manager, for the players, with lots of outside noise.”
Giggs was speaking in his first interview since being cleared of domestic abuse charges and is now among those calling for the current owners to leave, but amid a huge and growing amount of debt in the club the Glazers appear no closer to selling up.
