Furious Man Utd fans demand change as Glazers take out loan using club as collateral

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MANCHESTER UNITED fans have been left fuming after a member of the Glazer family took a out a loan against the club – for the second time this summer.

United supporters have long waged a battle with their American owners, angry at the way they only seized control at Old Trafford by taking out finance at the club’s expense.

Darcie Glazer Kassewitz has taken out a loan against her stake in Manchester United for the second time this summer
Darcie Glazer Kassewitz has taken out a loan against her stake in Manchester United for the second time this summer
Getty Images – Getty

And they have been even more annoyed after the MEN  revealed Darcie Glazer Kassewitz has taken out a loan in America using her shares in United as collateral.

It is the second time in little over a month that Darcie – one of the six Glazer siblings who are in control of United – has secured funding on the back of her stake.

The 51-year-old, who is rarely seen at United matches, entered into an agreement on July 23 for a loan of an undisclosed amount against 773,000 of her Class B ordinary shares in the club.

At today’s share price of £14.50, the value of those shares is worth over £11.2million.

VOTING RIGHTS

In documents filed with the US Securities and Exchange Commision, Glazer Kassewitz will retain full voting rights and be entitled to all dividends due on the shares “unless and event of default under the loan agreement occurred and is continuing.”.

It is not revealed what the purpose of the financing agreement was for, only that it was signed with the US arm of Swiss investment bank UBS.

Only last month she also used a further 393,000 shares as security for another loan.

The actual amount of her stake being used as collateral is a fraction of what she owns – with the most recent documents saying she is in possession of 20,899,365 Class B shares worth a total of £303m.


News of the loans has gone down badly with United fans who are increasing their calls for the Glazers to sell up.

Fan David Sheridan wrote on Twitter: “Haggling over extra £10m to sign Maguire but Glazers can take loan of £11m using club shares. Dirty leeches get out of our club.

And @lazyleo95 added: “For second time five weeks glazers have took another loan and here we’re struggling to get the players painfully needed for our team to at least challenge for top 4.
13 more days of misery, and then, if we don’t sign anymore players, it’s a war.”

The Glazer family also owns the Tampa Bay Bucaneers NFL franchise
The Glazer family also owns the Tampa Bay Bucaneers NFL franchise
Getty – Contributor



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