I wouldn't say the loan has had a huge impact. I would say the £1.5bn spent on, vastly, rubbish signings has been a far bigger contributor to any financial issues. The interest payments on the loan are marginal; they are only 1% of revenue, which is not an area of concern to the club. Rising wages and failed transfers have been the biggest issues to fix by far, which is down to management.
Maintenance of the loan is not a problem. Though new owners could come in and pay off the debt, the club will only gain a £20m improvement in return for a £500m investment to pay off the loan. Would it not be better for the new owners just to plough that £500m towards building a new stadium etc.? I would prefer that than the owner to pay off the debt and for us to only see a measly £20m savings on interest per year. It will take 25 years to make up for that repayment of the debt.
I would say we could have spent half of that £1.5bn and been far more successful had the management been correct. That amount is ignoring the lack of control on wages and the amount of money we have used on sacking managers. In the end, a lot of money has been wasted that has denied the club further revenue, due to lack of success on the field. That is and always has been the major concern.
If this wasn't a problem, Manchester United would have been in a position to build a new stadium with the Glazers as owners. The club wouldn't need a new owner to make this possible.