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Kieran Maguire annihilates Man United after £538m reveal
The £538million debt at Man United is symbolic of the Glazers’ contempt towards the club’s fans.
That is the view of finance expert Kieran Maguire, who spoke exclusively to Football Insider about the huge debt levels at Old Trafford.
The Red Devils announced their 2022/23 financial accounts this month, revealing long-term debt of £538million.
On top of the debt, United owe £317.8million in outstanding transfer payments from recent windows, taking the overall amount of owed money to close to £1billion.
Maguire has previously told Football Insider that United have paid over £900million in interest since the Glazers took charge of the club.
Maguire believes the debt levels at Old Trafford aren’t much of a concern, but it does indicate the Glazers’ lack of care since owning the club.
“There’s no contractual obligation for the Glazers to pay down that debt,” Maguire told Football Insider’s Sean Fisher.
“It’s a term loan, and the sum is $650 million.
“And they’re long-standing loans and interest-only loans.
“So that didn’t particularly concern me.
“But the drop in cash and the significant amounts of money which are owed in transfer payments are a cause for concern.
“It doesn’t reflect particularly well on Man United and the Glazers’ cash management.
“I think the debt is more of a symbolic issue of the contempt that the Glazers have for the fans rather than an actual financial concern.“
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