Reds NOT for sale - Glazers | Manchester Evening News

Reds NOT for sale - Glazers

Stuart Mathieson

September 03, 2007

STAYING PUT: The Glazers

THE Glazer family insist they won't be packing up and cashing in on United despite reports of potential billion-pound takeovers from China and Dubai.

A Chinese consortium are said to be keen to invest in the world's biggest club and develop the commercial market in Asia.

Reports also say a rival Arab group, with connections to the Emirates royal family, are working in the background and considering a move on Old Trafford.

But United's American owners, who controversially bought the club for £790m in 2005, are adamant they don't want to do business.

A spokesman for the Florida-based family said: "I can state unequivocally that United are not for sale.

"The Glazer family is 100 per cent committed to long-term investment and ownership in the club.

"Their commitment has been demonstrated by the expenditure during the transfer window. The position has not changed and nor will it.

"They have only owned the club for two years and this is still very much the beginning. It's business as usual."

With the extra cash from the Sky TV deal, the burgeoning popularity of foreign ownership of Premiership clubs, and United's title success, means that even a billion pound bid would not now be enough to buy United.

What do you think? Have your say.

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Birdy, Ireland (03/09/2007 at 09:10)

We're in a very strange and unenviable position. We're in debt up to the eyeballs, yet we're one of the most profitable clubs in the world with one of the biggest global fanbases. We're owned by people with absolutely no interest in football. Its hard to imagine how we could have ended up in a worse situation following our sale. The Glazers couldnt afford to buy Utd no more than I could. And now, if we're sold on, where does that leave us debt wise? A number of cliches spring to mind - better the devil you know, from the frying pan to the fire etc etc. Personally i wouldnt mind if they do sell us as its hard to see how we could end up worse off, certainly from a debt point of view. I suppose 1 positive of the current regime is that we now know asset stripping isnt on their agenda, but i think realistically nobody who would want to buy the club would want to anyway, as they would lose money if they did

Salford Ken, South Australia (03/09/2007 at 09:29)

Sell us to the Arab's and let's have some of that fantastic oil money behind United.

I'm not to sure that the Glazers have any money at all. I think they are just good at manipulating bits of paper. What's their actual worth when their debts are removed ? I fancy the figure will look like a minus in comparison to the Dubai people.

Free Red, Manchester (03/09/2007 at 09:57)

Lets look at the figures. The glazers over valued the club at £790m in 2005. The debts they dumped on the clubs books in 2006 were £662m with payments at £62m/year but since then base rates in the UK have risen to 5.75% and if they reach the 6% mark then those repayments will increase to £75m/year. They have a further £139m of debt held of shore which Red Football owed in PIK notes that the glazers failed to refinance this summer when the banks refused further credit. These PIK notes are attracting interest at over 14% per year. Transfer spending this summer has seen around £61m spent on players. However, £27.5m of that was raised through player sales to off set the cost and at least half that spend is on HP terms to other clubs so there's around another £30m of debt. Add that all up and their total debts we know about stand at around £831m or £41m more than they over valued the club for in 2005.

Now I know what some are going to say. "Never mind the debt just get behind the team" or "its all about winning trophies" (it isn't by the way). Others will do there best to discredit my figures or talk thing up in another way. But the before those people post I say take a reality check for once. The realty is that the debts are growing even after increasing the cost of tickets by over 44% in two years, increased sponsorship money and increased TV money. The glazers know this but won't want to go cheep so of course they will deny they want to sell. Now I can't say I am too thrilled by this great Chinese takeaway idea but at least these investors have hard cash which is something the glazers don't.

greg (03/09/2007 at 10:05)

You'll never walk alone!

ronaldo, manchester (03/09/2007 at 10:10)

United are a license to print money,just like coca cola ,macdonalds,microsft a huge money making machine on a never ending road.Even if it goes t*** up with the Glaziers some other money making magnate will move in.The winners Utd the club,its manager and its supporters,because they will always spend on the best players.

Jack Thorley, Trafford (03/09/2007 at 10:13)

It is also rumoured that City chairman Frank Sinatra is interested in buying United to use as feeder club for Manchester City.

Midfield General, Bristol (03/09/2007 at 10:20)

Excellent comments Free and Birdy. It is undeniable that the Glazers have saddled the club with enourmous and unprecedented debt levels, and the annual interest payments eat a significant part of our transer fund and will continue to do so for many years.

United are unique in that we are the one club in the world that does not need a sugar daddy. We can pay our way and afford pretty much any player. (We are also the only club in the world that could finance our current debt). If someone could buy the club without using loans, we would be in a much stronger position. (As long as it's not dodgy money from the far east of course...more trouble for Frank today it seems!!)

TMUF, Manchester (03/09/2007 at 10:32)

Free Red to be honest your figures could be correct, they might not, and you are correct, I am only really concerned with what goes on on the pitch. One thing I do know is that the Glazers are business men and if they didn't think they would be able to handle the debt, (a)they wouldn't have taken over the club in the first place, (b) they wouldn't have been able to borrow such a large amount, (c) they would have sold us by now!
We are never going to end up in a position like Leeds, not only because we will always be pushing to win the league, but because there are countless amount of people that can't wait to be our owners once the Glazers leave. I say relax and enjoy the football!

Birdy, Ireland (03/09/2007 at 10:41)

TMUF my understanding of it is that the debt is not the Glazers but ours. So whether they can afford it or not doesnt matter. Also, just because they put us in this position doesnt mean that they can handle it. Theyve tried to refinance it a number of times which isnt a good sign.

Yes there no doubt are plenty of people who would love to own Utd, but even still there are only a few who could actually afford it, so whilst they would no doubt find a buyer, there arent that many people with a billion to spend on a football club. You can certainly choose to ignore it and enjoy the football, but thats a bit like driving along in your car and ignoring the engine warning light because the car hasnt conked out yet. The club is dependant on a numebr of things running properly, and the financial side is probably the most important. No money no big wages and transfer fees, no big wages no big name players, no big name players no trophies, no trophies no money etc

NEIL (03/09/2007 at 10:45)

FREE RED WHY ARE YOU ARE YOU COMMENTING ON OUR CLUB.YOU HAVE NOTHING TO DO WITH US WHAT IS YOUR PROBLEM.GO BACK TO YOUR LITTLE CLUB WITCH SURVIVES OF THE BACK OFF MAN UTD AND LEAVE US ALONE.GETOVER IT.

red4ever, Chennai (03/09/2007 at 10:49)

Free Red
Nobody real fan dare scoff or discount what you have said.

It is a scary thought whereas ManU's debt may exceed net worth and payments due may overtake earnings.

I can hear FCUnited's founders voices all over again.

ManU have raised the cost of ticketing hitting the local fans in their wallet. Though I live far away I recognise the sacrifices ManU's Mancunian fans have made over the years.

Maybe we need a worldwide fan protest and boycott of tickets and other merchandising till these matters are resolved.

ChrisMUFC9000, Dublin, Ireland (03/09/2007 at 10:58)

The only way the glazers will sell out is if we go down, as in relegation.. its simple, dere not gonna be bringing in millions in sponsorships, jersey sales or tickets sales, If united were playn in the championship the glory hunters and prawn sandwiches wouldnt be coming to the games hence empty seats at OT cos the local fans went off to FC and the remaining wont fill the ground.
The glazers dont know anyting about football, In american sports theres no such thing as relegation so i wouldnt suprise me if theyve never even heard of it.

and to "midfield General" ur spot on, united dont need money from the owners to buy players, we do it with the money we make from being succesful not like the rentboys.

Jonathan Chin, Truly Asia (03/09/2007 at 11:01)

Jack "Trolly", go back to yr site and shout : Sven out sven out.

Robbo, North Stand (03/09/2007 at 11:24)

Well said Birdy, Free Red, Midfield General... Ps As Midfield General says, the great tragedy of the Glazer debt is the fact it's so unnecessary.

ronaldo, manchester (03/09/2007 at 11:46)

Do you mean the FC hypocrites???

ronaldo, manchester (03/09/2007 at 11:48)

Regarding ticket prices ,if want the best you have to pay,,,,,,,period,,,,,if you dont go to Wastelands and see garbage and pay similar!!

Michio, County Louth (03/09/2007 at 11:55)

They mention 'long-term investment', I seem to remember the Coolmore Mafia saying the exact same thing just days before selling up. You just never know with speculators.

ace, manchester (03/09/2007 at 12:00)

Dont count your chickens yet the yen is strong? money talks louder than words ...i see the chinese buying united this year..im forcasting ..

RedRainmaker (03/09/2007 at 12:26)

Okay! The first thing we have to realize is that Glazers or no Glazers, Utd are a commodity now. They became one when they converted to a PLC. There will always be someone else willing to buy us. Like everyone else, I wish we were owned by the fans / members like Barcelona but that ain't ever gonna happen. I was a shareholder who did not want to sell but that doesn't change anything. The Glazers may have saddled us with a huge debt but I would also say that they have brought stability to the club in terms of backing SAF. The ticket price rises and all other activities are horrible but not unexpected. Our only apparent hope is to get a rich, sugar daddy billionaire who has deep, deep pockets but how many billionaires throw a billion away? Even Abramovich they say would recoup most of his money if he sold Chelsea (personally I don't see how but there you go) and if the guys from the Middle East come in and buy Utd, they will buy it as a long-term investment - they saw Liverpool in the same way. We have to learn to live with things as they are and understand that success on the pitch is no longer just important for us emotionally but is also vital economically - we can never afford another period like the Seventies or we will have no club - simple as that.

Paul Lake's Knee (03/09/2007 at 12:27)

Free Red, Manchester, agree totally with what you have put. Didn't the Glazers also take out £323m in personnel loans to finance the purchase? Loans they have since tried to pass onto the club unsuccessfully, but hope to at a later date. I think United would be better off with new owners, although there was nothing wrong with the club prior to the Glazers.

greg (03/09/2007 at 12:28)

If you want the best Ronaldo, then go to Anfield and watch stylish and classy football!

COLIN, CANADA, Canada (03/09/2007 at 12:43)

On one hand as business men, they can walk away with a tidy profit after only two years and all their financial backers who are nervous as hell will be their best friends once again. On the other hand there is the ego factor. We own the biggest club in the world, the interest is covered and every now and again we can make principal reductions. It will boil down to pressure from the institutions. The real players in all this and they will love to get out, probably with some nice prepayment bonuses and let the chinese in. If indeed the rumours are true. If they are true, they will make a bid and we will all know about it as they always bring in the media. No debt would be wonderfull.

Prestwich Red, Prestwich (03/09/2007 at 12:48)

Sell one franchise, buy another - it makes no difference to them.

They will plonk their cash (and debts) onto whatever will give them them the best return. Right now at United, people seem only too happy to line their pockets.

bobbyc, Tameside (03/09/2007 at 13:17)

'not for sale'... now where have I heard that one before?

Face it boys and girls, when you support a club with a cash register where it's heart should be this kind of thing is inevitable.

SukhothaiRed, Sukhothai Thailand (03/09/2007 at 13:22)

I wouldn't get too hot under the collar about Malcolm Glazer - the guy is one hell of a shrewd operator. He turned the Tampa Bay Bucaneers around from a set of no-hopers in 1995 to the 2002 superbowl champions, increased the franchise value from $197 million to $990 Million in twelve years, all with the same business model in use at United. His net worth is around 2 billion dollars, according to Forbes, and he is renowned in the USA for his financial probity and for the long term commitment he has shown the Bucaneers. He has backed SAF to the hilt, and not interfered in the day to day running of the club, unlike a certain oligarch I could name. To the best of my knowledege he has yet to have an arrest warrant served on him by a US D.A, unlike another recent Premiership club buyer, who now has two...
BTW, was it just the vast amount of beer I had to consume on Sunday commiserating with a Norwegian ex-pat who was mourning the retirement of Ole-Gunnar, or was that a poor game? My wife fell asleep, very unusual, as she thinks OH is a hunk.... Welcome back, Mick...

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