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They boast of having 469million followers around the world but then warn that they may have to sell their own stadium. They are the most valuable football club in the world - worth £1.2billion according to Forbes - but have no money of their own to buy players.
This is Manchester United 2010; Manchester United the Glazer way. Fears of financial meltdown have stalked the dreams of supporters since the Glazer family took their club into private ownership in 2005.
Now - as they tour the world trying to raise £500m to ease the burden of debts worth £699m - United's owners have put down in black and white just what their four-and-half turbulent years have done to England's most famous football club.
Here are five warning signs from the 'Preliminary Offering Memorandum' distributed to potential investors this week.
1. Selling Old Trafford and Carrington training ground.
United need to raise money and quickly. One way they can do this is to sell their assets and then lease them back. Previously, they have denied they would do this but in the document the club admit it.
'The indenture governing the Notes (bonds) will limit our ability to sell or transfer, but not prohibit us from selling or transferring, our training ground facilities and our stadium'.
'Although in the sale or transfer of any of these properties, the transferee will be required to enter into a long-term lease with us to enable us to continue to have substantially the same access to such property as we currently do, if we sell or transfer either or both of these properties, we will no longer control them.'
In the short term it is unlikely that United will sell Old Trafford. The training ground, however, is already under consideration.
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