Backers of the Glazer family’s controversial £690m takeover of Manchester United are having as much trouble off the field at the club is having on it.
In the seven months since the Glazers assumed control, Man Utd has lost its main sponsor, been knocked out of the Uefa Champions’ League and is out of the Premiership title race.
However, things are, if anything, worse for two of the hedge funds that provided a large part of the £275m of preference-share funding for the deal.
The New York-based Perry Capital is facing regulatory action for its role in a failed merger. And the Chicago-based Citadel Investments has angered investors by imposing penalties on them for trying to withdraw funds after a poor performance.
