A BILLION REASONS TO VENT

THE seeds of Manchester United's crisis were sown 20 years ago, when the Glazer family gained control of the club.

- By David McDonnell

Through two decades of ownership under the Americans, United have gone from being debt-free to owing about £1billion, according to their latest financial results.

On May 12, 2005, Irish racing magnates John Magnier and JP McManus sold their 28.89 percent stake in United to Florida-based businessman Malcolm Glazer.

There were already concerns at United over the leveraged nature of the takeover, but nothing could prepare fans for what followed under the family’s controversial ownership.

Magnier and McManus famously fell out with Sir Alex Ferguson over the stud rights to the racehorse Rock of Gibraltar, with the grubby dispute, played out in public, ultimately leading to the Glazers owning United.

With the shareholding from Magnier and McManus, the Glazers controlled 76.2 percent of United and delisted the company in June 2005, beginning two decades of the most toxic ownership in English football.

Since then, the Glazer family are estimated to have made £1bn from United to line their own pockets, with the club paying out the same amount in interest to facilitate their controversial leveraged buyout.