
Originally Posted by
LimieJosh
It has nothing to do with the Glazers being American, such a conclusion is lazy.
The issue is that investors bought the wealthiest sports club in the world, did so by borrowing massively, and then, after buying up enough shars to remove the company from public listings, transfered the personal debt taken on to fund the stock purchases onto the club. Overnight Utd went from the richest club in the club to about $700 million in debt. Obviously there are a lot of complications with such a situation, and the Glazers didnt give a shit about deflecting any of them.
This all happened in the environment of a growing resentment among fans about how the working man's game had become priced out of their reach.
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