Exactly my point; the debt has put the club in a tricky position where we're having to pick and choose. We either pay off large chunks of the Glazer debt at the expense of squad/stadium improvements, or we choose to ignore the debt in order to invest in the squad, however we're basically kicking the can down the road by choosing to ignore the debt. In addition, I don't think the club would be comfortable in undertaking a large redevelopment of OT when we're in so much debt, so OT becomes more dated.
The debt on its own isn't much of a problem, however when you factor in what our rivals are doing e.g. Liverpool, then we are declining relative to other clubs. Liverpool are successful on the pitch, improving Anfield and are building a brand new training ground. They're rapidly closing in our revenues/profits and have very little debt to service/clear. We have tonnes of debt to service/clear, in addition, owners pocketing remaining profits rather than using the money to clear 'their' debt.
Regarding the cost of the Glazer ownership; to quote the Swiss Ramble "in last 10 years they spent an extraordinary £838m on financing: £488m interest, £251m debt repayments & £99m dividends. Took out £140m loan since year-end". Of course all owners want a return, but is there anything else quite comparable to this in world football, dividends and all?