We're talking about a club that had never been in debt before the Glazers "leveraged" buy-out. This is one of many recent examples of an unregulated free market economy at work.
Due to their enviable history of success on the football field, Man Utd has become an internationally recognised brand with a massive presence in every continent and every corner of the globe. They fill their stadium every week, they're watched by millions around the world whenever their games are televised, and their sales of merchandise probably exceed that of every other club bar Barcelona. In short, if such a business can't finance itself, then there is clearly something rotten in the state of Denmark.
The fact that they are now alleged to be groaning under the weight of the debts imposed by their current owners shows how easy it has become in today's unregulated financial climate for speculators to rip the guts out of formerly reputable businesses, be they banks, building societies, or football clubs. I'm afraid that until there is a concerted, international effort to address the culture of greed and opportunism that has taken root in the global economy, once cherished institutions swill continue to fall prey to financial piracy.
