This was what Carragher was saying yesterday. There's a lot of 'lazy punditry' about it all without knowing the facts. Yes Man United have spent a lot over last 10 years, but it was their money from their huge commercial and revenue side of the club.Not close to the detail, but they didn't have the same concerns back in 2005, as to what they have today, so why would he?
From what I've read, they have levied a huge debt over the club, which they are simply paying off the interest against. On top of this they are taking huge dividends out year on year. I believe the stadium is beginning to show it's age, and state of repair. And I think the straw that broke the camels back was the recent ESL vote.
You can't really compare the Manchester Utd of 2005 to today, as it's a completely different club, with completely different off field issues today.
It's the amount of finance on the owners debt, which was there from the start that's an issue. I saw a tweet before and it said in the last 15 years they have generated £5.9 billion revenue, but had £5.4 billion expenses (including £2.9 billion wages and £1 billion player amortisation), leading to £467m operating profit. This was boosted by £257m profit on player sales, but £817m interest meant £92m loss.
£817 million paid on interest!!!! Plus there's dividends to owners as well. That's a lot of money the club could have spent elsewhere, like their ground which badly needs money spent on it.