Manchester United fans took to Old Trafford on Sunday evening prior to their Liverpool clash to stage a protest against the club’s owners.
This staged protest led to a postponement of the game against Liverpool as several damages were said to be recorded on the pitch.
It is believed that the Glazers have recorded series of bad investments facilitated by greed in recent years of their reign at the club.
In 2005, The Glazers purchased Manchester United for a fee that was reported to be around £800million.
The purchase came years after the Glazers have been minority shareholders at the club.
It was reported that the club plunged into huge debt in 2005 as a huge percentage of the money used to purchase the club were from loans.
The club – even though having series of bad investments – have grown massively in value from 2005 till now.
Asides just bad investments, the Glazers have taken out a large sum of money from the club. It is recorded that they have forked out a whooping combined £2.02billion out of the club’s finances since taking over in 2005.
A staggering £806million have been paid in interest for finance costs over the years, also included are costs and fees for several debt restructurings.
The Glazers have also done away with £452million in share sales after launching the club on the New York stock exchange. However, none of it was reinvested into the club.
Also, a whopping £511million in debt has also been taken out of the club’s finances. It’s reported that this debt was used to buy Shares for the Glazer children and there have not been any substantial debt reduction since 2012.
About £80million in dividends has also been paid to the Glazers and a further £19million to other shareholders. Manchester United commenced dividend payments in 2012.
Also £85million fee received from Real Madrid for Ronaldo went into a financial hole and £92million combined worth of director’s fee which was paid to the Glazers across 11 years.
This is enough reason for Manchester United fans to protest against bad management seeing the club owners doesn’t have the club’s best interest at heart.