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Glazers deny Man Utd debt claims

The Glazer family have denied that Manchester United's debts, which have reportedly increased by £28million this year, are out of control.

A report from the Manchester United Supporters Trust , due to be released on Monday, claims that the club's interest payments have increased by £28m.

It also claims that increased TV revenue and money from a new shirt sponsorship deal with AIG is being used to service debts.

But a Glazer family spokesman dismissed the report on Sunday, saying: "The story is inaccurate. Nothing has changed.

"The debts continue to be comfortably serviced by the business, which is performing better than ever.

"As always there have been substantial funds for the manager to purchase players over the summer."

United fans have been hit with a 14% rise in ticket prices this season but the club has to fund rising player salary demands to keep stars like Cristiano Ronaldo, Wayne Rooney and Rio Ferdinand at Old Trafford.

The Trust report claims that the Glazer family "continue to face an extraordinary and growing debt problem".

The report states that since last year's refinancing, United and the Glazers have been faced with "a series of interest rate rises which have increased the annual debt service bill from £62m a year on the total debt of £660m.

"The interest bill is currently an annualised £100m-plus, of which £73m is payable this year and the other £27m in the future - a ticking debt time-bomb."

Reports have emerged over recent weeks of potential buyers for United based in China and Dubai but the Glazers have stressed that they have no interest in selling and are completely committed to the club.

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Tribal Football Staff

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