The educated stance of many that the debt will be ruinous for United, or it's traditional following, and probably both, has been declared somehow invalid by Glazer apologists by the transfer activity, which while it took us all by surprise, should be viewed in context.

Firstly, it remains of course to be seen how much will be offset by player sales, with half a dozen players being rumoured to be leaving Old Trafford. Estimates of around £15-20m being available to recoup, dependent on who leaves, take some edge off the 'Glazers are great' argument, but it still leaves around £30m net spending to explain away.

And it needs explaining, given the "revolving door" policy since May 2005, that every pound spent on transfers has been generated from player sales.

Luckily, while some ill informed fans think that spending £50m proves that their 'told you the Glazers are ok' stance is correct, history can point us in the direction of the truth.

Think back to the summer of 2001.

United, then a plc, bought Juan Sebastian Veron and Ruud van Nistelrooy, for a combined £47.2m.

This was after expensive signings in the previous 2/3 years of players such as Dwight Yorke, Jaap Stam, Fabian Barthez, etc, and without the benefit of a 2 season hiatus from net transfer outlay.

It was without the benefit of a massive increased TV deal, which on its own exceeds the outlay of the last 2/3 weeks.

It was without the much heralded record AIG sponsor deal (the exact mechanics of which remain in question, with AIG having a stake in some of the hedge funds Glazer used in his takeover of United).

It was achieved without the guaranteed income of an all-inclusive automatic cup scheme, which at least prevents Gill from giving us the 'cheaper than Arsenal' spin any more.

Furthermore, and most tellingly, the signings of summer 2001 would have cost you £22 to watch from the tier 2 of East stand.

It will cost £38 in the same seat this season, an increase of 72%.

This despite all the extra TV and sponsor money, and the extra 8000 quadrant seats.

If all that doesn't make plain the ease with which the Glazer's can use anyone's money but 'theirs' to fund these transfers, the fact that United had £44m in the bank at the time of takeover should.

No doubt it doesn't matter, and never will, to those that can afford the new ticket prices, that the Glazers have done nothing that the plc couldn't have done, or that they haven't spent half of the various extra revenues for 2007/08.

These fans wont want to hear that the plc managed it without ticket prices that meant United's hardcore are continuing to be gradually priced out, or disenchanted enough to walk away from watching the team they love.

But then, the plc didn't have the millstone of £62m per year in interest repayments to support, a figure that could rise if the rumoured second re-financing takes place this summer.

After the investment in 2001, United won nothing in the 01/02 season.

You have to wonder how many of the people who have taken the ST's off those that cant go any more will still be around in 08/09 if that happens this season - and what Glazer will ask us to pay then?