Man Utd debts ‘pass £1billion’ under Glazers as Sheikh Jassim left waiting

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Club debts at Manchester United have passed £1billion for the first time as the Glazer family continue to drag their heels amid the ongoing takeover saga. Both Sheikh Jassim of Qatar and Sir Jim Ratcliffe have made multiple offers to take over at Old Trafford, but they appear no closer to taking over from the Glazers as supporters continue to be left in the dark.

Recent reports had suggested that the current owners were set to make a U-turn and decide against selling the Red Devils as their valuation had not been made despite bids upwards of £5bn from both interested parties. This has come over nine months since the Glazers first admitted that they were open to a sale in November 2022.

Fans have continued to stage protests at Old Trafford against the current ownership, having criticised them throughout their 18-year association with the club after a highly leveraged takeover in 2005. They have been slammed for loading debt onto the club, which continues to rise to this day.

Their debt has passed £1bn for the first time, according to the Daily Mail, increasing from £969m this year in their third-quarter results. The debt is a result of the combined gross debt, bank borrowings and outstanding transfer fees – the latter has risen to £279.8m, up from last year’s £227.7m and does not include this summer’s deals.

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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.

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“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.

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