The ownership of Manchester United's Carrington training complex could be transferred to a holding company controlled by the Glazer family and leased back to the club, reports The Guardian. That is according to the prospectus circulated to potential investors in a £500m refinancing scheme this week.
The £500m bond and a new £75m credit facility, which will add to an overall debt pile of more than £700m, will be secured on the majority of property owned by Manchester United, including Old Trafford.
But Carrington, the state of the art complex that opened in 2000 to replace Manchester United's old training ground The Cliff, is specifically exempted.
"The Carrington training ground will not be encumbered and may in due course be transferred to a holding company or affiliate of the Parent. In the latter event, we will be granted a lease in respect of the Carrington training ground," said the offer document in a section describing Manchester United's business and assets.
The club currently own the freehold on Carrington and the idea of one of the assets most readily associated with them being transferred to the Glazers' own holding company, and potentially sold, will cause further disquiet among fans.
