BBC One’s upcoming Panorama investigation into the Glazers’ finances will look at both Manchester United, with debts now hitting more than £720 million, and into the family’s US strip mall business. With record low occupancy rates and a rumoured debt of more than $1 billion in the US, is the family’s empire close to collapse?
Airing at 10.30pm Tuesday 8 June, Manchester United – Into the Red marks an important mass-market exposé of the Glazer family’s ownership of United, coming just days after the Red Knights effectively pulled out of bidding for the club.
“Red is the colour of Manchester United, but now it’s equally famous as the colour of the club’s balance sheet,” previews the BBC’s long-running investigative news programme.
“Thousands of its fans wear green and gold as a protest against American owners, the Glazer family, who they say have saddled the club with a growing mountain of debt.
“Ahead of a possible bid for the Club, Panorama reporter John Sweeney explores the battle for the soul of United, the true scale of its debts and the ramifications it has for our national game on the eve of the World Cup.”
Earlier this season Andy Green – of Andersred blog fame – compiled extensive evidence on the Glazers’ failing US property business, with the family forced to borrow money from the club and sell the family home.
Sweeney, no stranger to the beautiful game, recently launched a new unauthorised biography on Wayne Rooney – Rooney’s Gold – that Rant will be reviewing in the coming days.
Panorama, featuring Andy Green, airs at 10.30pm on Tuesday 8 June in England, or 8.30pm in Northern Ireland, with Sky subscribers on the mainland able to get the programme early at channel 973!