Manchester United are perhaps the biggest football (soccer for you yanks) club on the planet. But even that does not secure financial stability. An investigation by the BBC’s Panorama program into the clubs owners, the notorious Glazer family, have a net debt of £1.1 billion.

Manchester United TeamHow do you get £1.1 billion in debt? Seriously? Only a mammoth level of ignorance could lead you down that path to epic failure. To be fair I do live in a country that is over £150 Billion in debt, but that is the collective of 65 million people. Fans of Manchester United have been against the owners since they bought the club in 2005. The years running up to the 2008 financial crash around the world were perhaps to worst to buy anything, and has seen the demise of many business and businessmen.

The Glazers debt had been no secret. When they purchased Manchester United for £831m, they borrowed £559m which it then loaded onto the club as debt. Over the past 5 years the club has since paid out a massive £460 million on interest, charges and fees on that debt.

The real revelation was that the Glazers are carrying £392 million of previously unknown debt relating to mortgages taken out on 63 of the 64 shopping malls owned by their company First Allied Corporation across the United States. This brings their total debt up to £1.1 billion.

You won’t see the Glazer family on any flights to Manchester any time soon. Fans of Manchester United are furious and fear that the massive debt will force a lack of investment into the clubs team.

“We have campaigned against the takeover because the Glazers have put not one penny into United, while taking huge sums out, and ticket prices have risen for ordinary fans to help pay for it. The revelations about First Allied appear to show they may not have money from elsewhere to invest in the club or pay down all the debts. It will all come from the club.”