A post I put up on this blog recently (scroll down until you find a picture of a rather female looking Ronaldo on crutches) has provoked a long list of argumentative comments. Essentially the debate as to whether the Glazers have been good or bad for United is still raging and so I though we should have it all out in the open....
As far as I am concerned it is black and white. They have been all bad. I can barely find a good thing to say. And I find that the good things people do have ot say is usually either things others at the club have acheived at the club despite them, or is just mis-informed.
Of course the club has done fantastically since they took over- 2 league titles and a European Cup is simply beyond our wildest dreams. However, did the Glazers help or hinder?
Rumour number one - the Glazers have invested millions of pounds and the signings purchased with their money helped win trophies.
Truth - Any money United have spent on players has not come from the Glazers, it is borrowed money from banks that still has to be paid back. And it is the fans who pay it back with ridiculous ticket price increases or 50 minute waits to get through to the ticket office on expensive phone lines as the staff have all been sacked to save a few bucks. The Glazers are also struggling with their debt payments, putting the whole future of the club at risk. Last year United announced record profits, but all except £3m left the club (from another company called Red Football Ltd) to pay back some of the interest. So United made £3m in the last last year despite having won the league and without hardly spending a penny on players (Nani, Anderson and Tevez are yet to be paid for and Smith, Rossi etc all brought funds in) and still barely broke even. If we spend money on players and don't win trophies the finances will look dangerous worrying, especially with banks panicking over the credit crunch and AIG in serious financial trouble.
Rumour number two - The Glazers have spent more on players than the club could have done as a plc.
Truth - By being taken off the stock exchange United have saved about around £40,000 a year by not having to print annual reports (so the fans are even more in the dark now than before) and around £10m in share dividends. But instead of share dividends our interest payments are over £64m a year. Thats £54m extra a year leaving the club than it did before - hardly good for investing money in players. The first summer of the Glazers we made a profit- taking Keano off the wage bill and selling Obi Mikel and Ruud more than paid for Carrick, and last year's players have not been fully paid for by any means yet. The sales of Smith and Rossi provided £15m of the money we did pay upfront.
Rumour number three - United's ticket prices are still reasonable.
Truth - under the Glazers a system has been introduced called the Automatic Cup Scheme. This forces all season ticket holders (most of the tickets in the ground) to sign up to a direct debit to purchase all home cup tickets. That means supporters, many of whom could barely afford 19 league games at the prices the Glazers have introduced, had to sign up to another 8-10 games a year at these new prices. Most of the seats in the main stands are now £44 (£49 for non members if you cannot afford a season ticket and want to chose to apply game by game) which works out at around £1200 a year including an average amount of cup games. More than most seats at Arsenal or Chelsea. Baring in mind we have the largest stadium and the highest revenue from performance related payments (ie winning trophies) surely we should have the cheapest tickets in the league?
Rumour number four - the Glazers care!
Truth - as soon as the Glazers came in at the club they cut the largest supporters trust in the country (over 30,000 members) and the independent supporters association out of the loop. They were not permitted to have representatives at the 'fans forum' (which discusses important issues such as content of the now very expensive matchday programme or the flavour pies on sale) and cut of all official communication. What business/ football club does not talk to its most loyal fans? As for explaining the debt, the Glazers gave one pre-recorded and scripted interview on MUTV shortly after buying the club in which their only comment was 'debt means different things to different people.' Well. in Manchester it means it needs to be paid back.
In summary - they take more money out of our club than ever has been taken out before, supporters are putting more in than ever before, they have no intention of speaking to supporters, ticket prices are getting worse every season even compared to other clubs, and when the debt needs to be paid back the team and supporters will all suffer. Should things look even bleaker, the whole club is in jeopardy with 9 times more debt than Leeds ever had and sponsors such as Audi and Vodafone already walking away. The Glazers should be thanking the lord for us loyal fans and Fergie/ the players who have masked their behavious so far by papering over the cracks, but unfortunately the future is not so bright should they keep running up the debt and not paying it back.
I love my football club with all my heart and travel the world watching the lads. I stood in Moscow last year with tears running down my face as we lifted the European Cup. But nothing can let me accept or forgive the Glazers throwing our club ito uncertainty and debt for their own personal gain. Lucikly the future may be alright due to a bunch of fans doing more than their bit to look more long term - http://www.joinmust.org
Oli Winton
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http://timesonline.typepad.com/fanzine_fanzone/2008/07/the-glazers--go.html
