Life as PLC could end in RIP for Man United

[fedsron2us]

There have been stock market collapses and predators aplenty, but nothing quite like this. United have been turned from the commercial powerhouse of world football into a debtor state, purchased via loans from banks.

The rejoicing in Arsenal and Chelsea pubs last night must have been ferocious. With one piratical swoop, the financial might of United has been wiped out. A club who wrote the manual for ambitious chairmen the world over have just replaced it with a giant IOU.

http://www.telegraph.co.uk/sport/main.jhtml?xml=/sport/2005/05/13/sfnhay13.xml&sSheet=/portal/2005/05/13/ixportal.html

There are rumours that new UEFA rules on football club solvency may even lead to United being excluded from European competition

http://football.guardian.co.uk/News_Story/0,1563,1483487,00.html

Loath as I am to sympathise with Man Utd fans this takeover is likely to end in a disaster for their club and for English football.

edit for links

[sweetheart]

1. its a political move of stupendous stupidity

This stupid yank will generate more negative publicity for americans
than bush!... unless Man U starts winning even more... then the
transatlantic bridge will re-construct itself from manchester... and
ambassadors will have to wear football jerseys.

Let the bastard buy the club, it serves the strategic interests of the
british people to let the yanks take a fall with a symbolic club. After
all, all it'll take to rebuild the team'll be to hire some people
who kick round balls wearing silly costumes... its hardly like a real
tragedy.

If this bearded yank turns out to be a wanker, he'll turn the daily
mail against all things war-like and american, something even lord
god rupert murdock can't do.

[Anarcho-Socialist]

2. I find it confusing to be sympathetic to Man United

since I follow Newcastle United, but I am sympathetic to them. I'd never want to see a football club wrecked like that, no matter how much I didn't like them.

[D-Notice]

3. I wonder how the

"Prawn Sandwich" brigade will react?

Will we still have people from Surrey & Cornwall claiming to have been Utd fans all their life?

[T_i_B]

4. The prawn sandwich brigade round where I am

are opposed to Glazer, because they are worried about the amount of debt he will bring to the club. Mind you, it's not like they are about to suddenly start supporting Gillingham or Torquay United in protest is it?

[D-Notice]

5. No, but they might start supporting

"FC United".

[muriel_volestrangler]

6. Would that be FulChester United?

Could we look forward to seeing Billy the Fish between the sticks?

[Taxloss]

7. Fuck 'em.

MUFC has been engaged in a maniacal pursuit of more, more, more money for more than 10 years. The management only cared about the fans for as long as it could gouge them for two new shirts each season. They turned it into a business, and now it's being treated like a business. I hope Glazer asset-strips it, and then maybe people will start drawing the money out of football like poison from a wound.

[mrfrapp]

8. Privatisation

I'd have more sympathy with Manchester United fans if they protested the privatisation of the club in the beginning.

[fedsron2us]

9. The more I look at this deal the less financial sense it makes

Glazer is reported to have borrowed over £500 million pounds to buy out Man Utd. The last set of accounts showed Man Utd making a profit of £9.6 million pounds on a turnover of £92. This would be insufficient to service this level of debt. Even if Glazer was to sell all the current players, redevelop Old Trafford and set up his own TV franchise he is unlikely ever to see a return on this money. I know that Man Utd fan base world wide is supposed to be huge but they are not going to provide that sort of cash flow. Glazer will have to turn out to be the Bill Gates of football if he is to see a cent on his investment. I think he has been conned by a couple of astute Irishmen. It is surely only a matter of time before Man Utd go the same way as Leeds.

[newfaceinhell]

10. well, looks like he's got his hands on it in the end....

Glazer secures 75% Man Utd stake (BBC)

[bennywhale]

11. No sympathy from me really

Apart from the small hardcore proper Manure fans who travel all over and are brilliant i think the club is a symbol of greed and arrogance and lost its soul a long time ago.

They've been outspending everyone for years its about time they're back on a level with the rest of us. Manure is no longer a proper English club anymore anyway. Its a global brand and is being treated as such.

Toon Army

We may win fuck all but we're genuine