Manchester United supporters have urged the Glazer family to reveal how £220m of debt has been paid. It has been confirmed the controversial payment-in-kind (PIK) notes, lodged against the family themselves and which have been attracting interest at 16.25%, will be paid off in full on November 22.
Yet there has been no explanation where the £220million has come from, other than an affirmation that it has not been taken out of club funds and the Glazers have not sold part of the Old Trafford outfit.
It is possible new loans could have been taken out at a more favourable interest rate, or the family might have sold off some of their other assets.
The PIKs were not discussed during a conference call for holders of the £500million-worth of bonds that were issued at the start of the year.
The Manchester United Supporters Trust (MUST), who have opposed the Glazer family since their controversial takeover in 2005, now want answers.
"Now is the time for the Glazers to finally come clean and tell the truth about what is going on at Manchester United and what their plans are," said MUST chairman Duncan Drasdo.
"What have they got to hide? No more secrecy. No more spin. Just tell the fans the truth."
