News Column

United owner Glazer dies aged 85

May 28, 2014

London (Alliance News) - Manchester United owner Malcolm Glazer has died at 85, his NFL franchise, the Tampa Bay Buccaneers, announced Wednesday.

Glazer took over United in a 2005 leveraged buyout, loading 525 million pounds (877 million dollars) in debt onto the club.

It has cost 680 million pounds to service the debt, while the club remains 389 million pounds in the red.

Fans have repeatedly expressed anger at the terms of the takeover, which many blame of a lack of investment in the transfer market.

Glazer had given up his holding in United to his sons, and his death is not expected to impact the running of the club.

"The thoughts of everyone at United are with the family tonight," a United spokesperson said.

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Source: Alliance News