The Glazers can legitimately take around £127m out of Manchester United next year if profits remain stable.
The Guardian have taken a week to read the small print in the 322-page bond prospectus and report that the Americans have the right to take millions out of the club.
The newspaper reports that the 'principal purpose' of the bond issue is to raise funds for the Glazers to pay off the 'payments in kind' loans that are secured against their shares in the club. This £200m debt exists in addition to the £500m owed by the club.
The prospectus details how the Glazers can take £70m from the club's cash reserves, pay themselves a £25m dividend and take half of the club's cash profits (a figure that stood at £23m last year). They can also take out a further £9m in administration fees and payments to directors.
That adds up to around £127m on top of the £45m already being directed towards paying off the £500m the club will have borrowed via the bond.
