The PIK loan was a personal loan on the Glazers, no interest was paid on the loan it was simply rolled up and added to the debt. This debt wasn’t United problem it was the Glazers problem (it was a ticking time bomb)
If they are going to pay off this debt it will leave the Glaziers safe for the future whilst still being able to draw as much as they want out of United and unless they have just won the mega Euromillions lotto a few times the new money must have been financed elsewhere, sale of the ground, naming rights whatever.
What it will do is impact on United’s turnover and annual losses as any new deal will probably be against the club and cost them each year, remember no interest was paid on the PIK loans so it didn’t show in there losses. And bigger losses impact on there ability to buy new players under EUFA’s new rules.
Any way the Glazers don’t face the Hicks Gillette problem, they can squeeze as much as they want out of the club and leave with a profit.