The excellent Andersred blog has been detailing in depressing detail the truth about Manchester United finances.
Today's news that the club has been used by the Glazer family taking around £400m in interest payments and charges since the Americans took control in 2005. The figures released yesterday show Manchester United lost, yes lost! over £108 million in the financial year to June 2010. Which can have only one outcome. Instead of getting great signings, the money from United fans are now financing the huge debts from the Glazer family takeover.
Manchester United have some 50 million fans throughout the world and cash and purchasing of the top players should be no problem whatsoever.
No fan believes Sir Alex Ferguson has over £100 million in the kitty for transfers. the prospect of United spending big on players has increasingly become a fantasy in the Theatre of Dreams.
Instead of paying off debts, which did not exist prior to the Glazers' takeover, Manchester United should be spending millions on the world's greatest, as they did. But we are now in the bargain basement department.
The rumour, today, that the club is interested in Richard Dunne of Aston Villa highlights the problem facing Sir Alex Ferguson and the supporters.Remembering that it is bums on seats and supporters purchasing shirts etc that made Manchester United
the wealthiest club,prior to the Glazers' takeover.
This blog has been foremost in highlighting the state of the present squad. The need for a dynamic leader in midfield is evident and our defence needs bolstering.But with the Glazers' taking money from the club, who can believe that Sir Alex Ferguson will bring in some top signings in the summer?
The issue will then return to what can supporters do? Stay away? Wear different colours? They have been tried without success. The Glazers' put up the price of seats year on year and still supporters fill the stadium.
Perhaps organised marches displaying the frustration of fans may help galvanise greater opposition to the Glazers'. But fans of Manchester United cannot allow this great club to continue in this downward slide to obscurity.
I totally agree with you: United are on the road to nowhere under the Glazers' and have been ever since the takeover.
ReplyDeleteBut thank heavens for Ferguson who has worked miracles under very difficult circumstances. But what we wonder will happen if Fergie goes say next season?
Despite being in the running for three trophies, the squad needs strengthening but will it happen?
United are most definitely on a downward spiral and you have to wonder what the outcome will be.
I have faith in SAF and truly believe that he has as much love for the Club as any supporter as he built it to what it is today. I also believe that bringing players like Hernandez to the club will offer much more stability than the likes of Balloteli or Tevez, a player who gladly waits for his chance and then scores 7 goals in 9 games yet is still glad to be involved in any way. We will get the big names the team requires but only 2 or 3 positions need strengthened. Keeper, 2 central midfield players, and some extra cover for CB and right FB. Weather its household names or great finds like smalling and Hernandez I do not have a preference, but every man united supporter craves the record breaking signings of the past. This however may be a thing of the past as a "money no object" attitude of some clubs in the past 2 seasons has changed the scale. We also must remember the return of Welbeck and Cleverly and the progress of Pogba and Morrison. To bring our own youngsters through the ranks must be our first option always. only filling in the gaps with big names.
ReplyDeleteFergie has done really well with the signings of Da Silva twins, Hernandez and Smalling. The question is can he find the right players for central midfield and in between the sticks; importantly, for the right money?
ReplyDeleteProbably Rooney will be sold (he is the only valuable asset right now).. i just hope Glazers sell the club instead..
ReplyDeleteI agree. IMO, Rooney and Rio could be sold this summer.
ReplyDeleteRooney nor Rio will be sold...Don't get crazy.
ReplyDeleteAs long as we got Fergie will be just fine. Have faith boys
Regarding what James said about Rio/Rooney being sold.
ReplyDeleteI cant see Rio being sold simply because I cannot imagine anybody willing to pony up the very high wages for an injury prone player. Think he will end his career at United.
I can however see one of Berbatov or Rooney being sold this summer.
I really don't see a point in selling rooney or rio.
ReplyDeleteFirstly,their market worth would have declined drastically owing to patchy form and a failure to remain fit, respectively.
Secondly, if either one or both are sold then common logic says they wont be replaced immediately. Case in point being the sale of Ronaldo. All the money from the sale will go into servicing the debt.
Thirdly, both are global superstars. Selling them would just solidify the claims that United have become a selling club. A club that struggles to keep its star players. The global profile will be affected and hence the ability to attract top talent.
I have a question, which I would love if anyone here can answer.
Why are the glazers sticking to united even when the club is incurring losses and crippling under mounting debts?
Wouldn't it make economic sense to dispose off a lucrative asset which has stopped yielding returns? They can easily get a billion dollars if they wish to sell. Since its United as an entity bearing the debt, they can walk away with a hefty profit.
Don't know why they are sticking on.
Overthinker,
ReplyDeleteThe Glazers' WILL walk away from United but only when someone is daft enough to offer the 'right' money.
The Glazers' business empire is crumbling and United is easily their most valuable asset but so far no one has offered them the right money.
United have to a degree become something of a selling club - the sale of Ronaldo proved that to a point. But prior to that transfer and in general only players surplus to requirements have been moved on. Ironically, I think Fergie might have put Rio into that category - without doubt Wenger would have cashed in long before now in similar circumstances.
Rooney looks as though he's carrying a burden on his shoulders and I'm wondering if he knows the club is willing to sell him now that he's signed that long term deal - one which ensures the club receives a hefty fee.
If Fergie keeps on unearthing gems like Smalling, Hernandez and the da Silva twins you won't find many fans complaining - but that's easier said than done.