Speculation growing in City that American owners are preparing for a sale.
Financial analysts believe the Glazer family could be gearing up to sell Manchester United, after it emerged that the American owners intend to pay off £220 million in high-interest loans secured on their shareholding.
The motives behind the Glazers’ decision to pay off their controversial payment in kind (PIK) loans are unclear, as are the source of the funds.
But speculation is growing in the City that it could be the first step as part of a long-term strategy to sell the club the Americans bought in a debt-laden takeover in 2005.
If the interest on the loans, accruing interest at an astronomical 16.25 per cent, had been allowed to continue to ‘roll over’ until they matured in 2017, the total debt would have stood at more than £600m, on top of the £526m bond secured on the club itself.