Glazers ‘must raid coffers’

MANCHESTER United's owners will have to take tens of millions of pounds out of the club every year to pay off expensive loans, an investigation into the Glazer family's finances claims.

Tonight’s, BBC's Panorama programme says the family's debts total more than £1.1billion — £700 million tied to Manchester United.

Investment analyst Andy Green, who investigated the Glazers' finances for Panorama, believes the family has no option but to raid United's coffers to pay the payments on the loans, which total £220million.

Green, a United fan, said: "This is not meant to be scaremongering. What I care about is Manchester United being used as a piggy bank to pay off loans instead of money being invested in the team.” Green claims United is the only Glazer asset capable of generating that kind of money.

Green said the £500million United bond issue in January allowed the Glazers to take money out of the club, whereas previous bank loans had not allowed them to do so.

The investigation will give impetus to the 'green and gold' campaign being run by some United fans against the Glazers' ownership.

There is also a proposed takeover by a group of wealthy United fans known as the Red Knights, though no bid has materialised and the Glazers insist they have no intention of selling the club.

United chief executive David Gill has insisted the £80million fee from the sale of Cristiano Ronaldo was still available for new players.