£511m debt but dividends galore: the Glazers’ legacy at Manchester United | David Conn

John Henry’s FSG has put in a net £100m at Liverpool in nine
years but at Manchester United the financial backdrop to their
on-field struggles is very different

Through the long years when Sir Alex Ferguson’s Manchester
United were amassing trophies and cash, and Liverpool were stagnating in a derelict neighbourhood,
Anfield could only dream of today’s reversal of fortunes.
Liverpool, rebuilt and rebooted since 2010 under their US investor
owners, arrive on Sunday as European champions and Premier League
leaders at an Old Trafford groaning under United’s US owners, who
have plundered the club and bungled the Ferguson succession.

Liverpool’s owners, John Henry’s Fenway Sports Group, did
not fully understand what they were taking on when they bought a
club so steeped in history and emotion, but they learned from their
early missteps and gradually refurbished Anfield with expertise.
United’s, the six siblings of the Glazer family, bought the club
in their debt-loading raid in 2005, enjoyed the fruits of
Ferguson’s genius but are now on their fourth manager since his
2013 retirement with their former banker Ed Woodward in charge of
the club.

Source: FS – All-News2-Economy
£511m debt but dividends galore: the Glazers’ legacy at Manchester United | David Conn