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Where has United's money gone?

Under the Glazer family Manchester United have generated £7,591,000,000.  How has the money been spent asks football finance guru Kieran Maguire?

The Glazers inherited an annual wage bill of £77m, this has increased five times since 2005 and is now the highest in the PL with the average weekly wage now £178k.

It's not just the players who have been rewarded, with the board earning £129 million during that period and the highest paid director peaking at just over £4.1m in 2017/18.

Lenders have been major beneficiaries of the Glazers period of ownership, trousering £917 million in interest payments in loans that earned up to 14.25% interest. Shareholders (some of whom may have the surname Glazer) have 'earned' £167 million during the period too.

The Treasury has not been such a beneficiary though. Under the Glazers Manchester United has been an overall loss of £354 million, compared to a Premier League profit of £278 million from 1992-2005.

Manchester United have been active in the transfer market under the Glazers, spending over £2 billion on players, but only recovering a quarter of that from sales.

One area where money has not been spent is on the stadium, as under both Project Big Powergrab and Super League capital projects would be funded centrally. Leaking roof, seats too small to sit in, crammed concourses are the legacy...unless you are in the corporate seats.

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