Manchester United's owners, who loaded the club with more than £700m in borrowings to fund their purchase, have taken £10m out of the club in "management and administration fees" and have personally borrowed a further £10m in the past year, it has emerged.
How the Glazer family have milked debt-ridden United for millions.
United are currently training in Qatar...
2 comments:
This should come as no surprise- the whole point of a leveraged buyout is to extract profit for the parent company from the leveraged company. I didn't hear any Man Utd fans crying when they started selling shares publicly and using the money they raised to win everything in sight.
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