It was quite ironic that the Premier League announced on Wednesday it is banning fully-leveraged club buy-outs via a unanimous decision.
Eighteen years ago the Glazers acquired Manchester United for £790m using loans to finance a large proportion of their takeover. United would have been one of the clubs who cast their vote in Wednesday’s decision.
It must be underlined that the Glazers did use some of their own funds in their 2005 takeover. But the irony lies in that the debt acquired from loans - some of them secured against the assets of the club - has been such a charged subject during their tenure.
