In 2005, the Glazers purchased Manchester United for an estimated £790 million, with a major portion of the capital coming from high-interest loans. After a series of debt refinancings through loans and bonds, the club was publicly listed in 2012. Interestingly, only half of the £150 million raised through the IPO was used to repay the debts, with the Glazers pocketing the other half.
Furthermore, the company has been paying dividends to its shareholders regularly. Despite booking a net loss of over £115 million in the 2021–22 financial year, £33.6 million was paid in dividends, mostly to the Glazers. In total, more than £1.1 billion has been taken out of the club since the takeover.
The club’s total debt still stands at £514.9 million, with millions paid out as interest, debt repayments, dividends, remuneration to directors and management fees every year.
Sources: Daily Mail, BBC, The Sun and The Athletic
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