Manchester United have borrowed another £160million since the end of the period published in their recent financial report, sending the club’s overall debt soaring. The development lands Sir Jim Ratcliffe with a new source of concern as he edges towards a deal with the Glazers, which could one day see him take sole ownership of the Red Devils.
For now, Sir Jim’s proposal would see him acquire a 25 per cent stake, with the Glazers remaining at the helm. But reports indicate that the petrochemicals billionaire has discussed ways in which his minority shareholding could one day turn into a controlling stake.
Doing so would see him assume responsibility for United’s vast debt, which has increased dramatically in recent months. Earlier this week, the Red Devils published their annual financial report, which ran until the June 30 year end.
But since that point, Joel and Avram Glazer have sanctioned the borrowing of another £160m, taking the club’s total gross debt to just shy of £800m.
The mind-boggling figure could become a source of concern for Sir Jim as he guns for a route to full control at Old Trafford. The Glazers’ 18-year history with the club suggests that they are unlikely to clear the debt before making way.
United fans are desperate to see the back of their controversial American owners, with frequent protests staged in recent seasons. Sir Jim is believed to have explored ways in which his 25 per cent purchase can represent a clean break for supporters.
Manager Erik ten Hag is gearing his side up for a crunch derby on Sunday, with Manchester City desperate to reel in Tottenham, who built up a five-point buffer at the top of the Premier League table by beating Crystal Palace.
United go into the showdown off the back of three consecutive victories, with the latest coming against Copenhagen on Tuesday, although all of them have been by narrow one-goal margins.
