Now isn't this a surprise, a former club Chair voicing his concerns about United's future should the Glazers decide to move on.

This concern was part of what drove many a fan away, sparking the advent of FC United, and is still on the minds of many fans who stayed put, and I must admit it is a concern of mine as well. It's easy to run up a huge debt in any walk of life, but when you have such a large anchor as the one United are dragging around it is doubly disturbing.

Being smart businessmen (at least in their own mind), the debt is probably tied to United and could become the equivelant of "cement overshoes" that were so popular when US gangsters wanted to "Sink" a rival. But the concerns raised in this article do seem rather hypocritical when one recalls the BSkyB debacle.

Hopefully the Glazers are in it for the long haul as they claim, but I for one am not too enamoured about people who say things like that, or the ones that shake your hand warmly while readying themselves to become another Brutus.

Et tu Glazers?

Edwards should give the club some money back then.

ha no worries theres a big rich club up the road.see if they will give you a sub.

As I have said several times that whilst I woould never stop supporting United FC United had a point.
The Glazers are using United more for publicity than the love of football.
They are using Fergie to keep everybody sweet,lets be honest a new manger would no at once what really is going on at the club.

At the time of the Glazer takeover, many people - including David Gill - said their Business Plan was seriously floored and that amount of 'leverage' ( as the Americans call it ) would burden the Club with a massive debt. After the takeover, Mr Gill appears to have now decided that the same Business Plan is working well and even benefits the Club ! I can't think why lol

I'm afraid I share the concerns of Martin Edwards.

Even if the Glazers' ARE in it for long term, as they state, things do not look good.

After three very successful seasons on the pitch, with revenues higher than ever, the debt has incresed drastically. From about £550M to £700M. So United cannot even cover the interest payments of this massive loan the Glazers have dumped on the Club. And this during the 'good times'.

What happens - as it will - when the Club is not as successful on the pitch ?

It is expected that TV revenues have peaked ( ask Setanta! ) and it will be very diificult to maintain income streams in the future even if United continue to perform well on the pitch.

I fear the bubble is about to burst.

It is three years since I gave up my Season Ticket, so at least I am not paying the Glazer debt. I used to be proud how United were run. They were one of the few Clubs actually in the black. However, I still am a United fan, but not a supporter - especially financially! I have be turned into something I always despised - the Armchair United Fan!

I still get my footy fix - this Sunday I will be at Gigg Lane to see FC United take on Stalybridge in the FA Cup.

And, do you know what, in many ways the craic is better!

Tescos should buy them out!

Edwards should start paying for his tickets then, like we all have to do!!!

Martin I think you have just ruined your chances of having your book on display in United's shop!

OpenshawBoy, good post.

I struggle with most things that have come out of Edwards mouth. The edwards family were dubious from the start, louis's dodgy meat and all that business, and i never trusted CM Edwards one bit.

I guess the Glazers are similar, you have to step on some toes to get anywhere in life, let alone to be a billionaire family or whatever they are.

Although they must want to rid the debt they have provided funds. i'm not for one minute saying it's been spent well though: Hargreaves was a risk, Berbatov shouldn't have been a risk, Tosic is a risk, Obertan is a risk, valencia was a risk and all have a lot to prove in my mind.

I think Edwards paints a dubious picture, and as long as we remain operationally viable, the glazers, should they decide to sell, shouldn't get us in too much bother. If they decide to stay for a while and continue with their investment they could well get a decent return in the long run.

When Glazers took over i wasn't to happy, but i have to say that i rather see people like the Glazers who understands sports business run the club, rather then people like the city owners. I think it's good that they are only in it for the money, they don't profit by making the wrong decisions for the club. I want some one who decides with his brain not his hart to run the club, so yes no die hard supporter, just as i would want a real manger to manage the team not a supporter. Are the Glazers in it for the long haul, only time will tell, but so far so good.

giggsy sweden

i take it you are not a season tkt holder? and that you have not seen your season tkt increase at 4 times more than inflation over the glazer era.

monkey yennis
income from selling players has exceeded expenditure in the glazer era so tell me please how much of their own money have they provided for transfers 7 infrastructure enhancement? suggest it is a big fat NOWT

Alber square.

a well rounded argument until you brought fc united into it.

Alber square.

a well rounded argument until you brought fc united into it.

Well I picked up the following from Wikipedia:-

Since the late 1990s, the club has been one of the richest in the world with the highest revenue of any football club,[5] and is currently ranked as the richest and most valuable club in any sport, with an estimated value of around £1.136 billion (€1.319 billion / $1.870 billion) as of April 2009
Under the terms of Glazer's financing, in the event that Glazer is unable to repay bondholders, majority control of Manchester United will pass to three New York hedge funds in August 2010. The three hedge funds are Citadel, Och-Ziff Capital Management Group and Perry Capital.

Probably explains why the Glazers aren't too concerned. For me they key figure above all is the clubs value as opposed to debt.
Ripe for a takeover? I would be very surprised if this time next year, the Glazers are in charge, heard that one before? No, this time I reckon they'll sell or be forced to.

Things can change very quickly, one minute City are in the crap, the next...HELLO!!!!! Suddenly, some of their fans have started believing their home if Mount Olympus and not The City of Manchester thingy-me-bob.

Unless it was just paper talk I seem to recall that the Edwards family walked away with over 100 million pounds of share trading profit when Martin sold the shares. Mrs Edwards received a goodly bit of that in her own right. So how much does a family need if their concerns are so much about the United debt. Yes by all means make yourselves a profit that is what business people do and does it boil down to pure jealousy on others when they criticise mega profits? Perhaps. But whatever, Edwards was heavily criticised by fans for taking a vast amount of money out of the club but I was one that didn't purely on the principle of what buying and selling shares is all about. BUT I do not beleive his concern over this debt now. How many times did he try to cash in by selling United? More than once. Blimey he never stopped trying. It is too late to show concern Martin, far too late.

he has a book coming out and needs the publicity......... I'm obviously not happy about the debt but I think without question they have supported SAF, the club is self-sufficient and when & if they decide to sell they'll be a queue of people interested in buying not only the most prestigious club in the world but one of a few that can actually make a significant profit.

United have been running on empty since the Glazer takeover. Morally and spiritually it has never been the same at Old Trafford since they conned there way in. (Allowed by others who never had the good of club at heart) Yeh i know we've won trophies. However none have inspired that 'feel good' factor lately because the Glazer spectre is always in the back ground peering over the shoulders of those who care.
Last year, i believe we won the premiership by default. I think the debacle in Rome backed that up when we were soundly beaten by a far better organised team. We were let off the hook and accepted, much to SAF's relief.
Let me remind the younger Utd fans that Louis Edwards and his Son, Martin, were despised at OT throughout the late sixties up until the time Martin was pensioned off. Who, normally, would care what he thinks about the goings on at Old Trafford? Certainly not me. But his timing, in this instance, should make Utd fans sit up and listen. On this occasion, it appears he's not crawled out from under his stone just for the fun of it. He is stating publicly what we have known for 4 years.
As the Liverpool owner espoused this week to scousers taunting him "Utd cant spend the Ronaldo transfer money because its already gone on the servicing of the debt"
People within football circles, that are within business circles, that are within football circles (Because it is all connected like clouds are to rain)can make comments like these because there is more than a grain of truth. It is probably the 'grab em by the knackers and swing em round truth' that we all fear for our beloved club.
With Arsenal now pulling through there financial conundrum, Chelsea bankrolled to the hilt but surviving, (Bye bye Mr 'we'll be self sufficient in 2010' Kenyon) Liverpool courting Saudi investment, City all lollipops and ice cream (until the "investment" is found out to be another bankroll with no returns "domination of football another myth")what of United? A pillar of self sufficiency for years and now facing the same exit as Enron and Lehman brothers? Sad innit?

Mr Edwards just may be preparing the way for something far more sinister. An attempt to cleanse his own soul for his wrongdoings at Utd. Purging himself of guilt and recrimination before the 'iceman cometh' Maybe this is his modus operandi coupled with the loss of his free seat. The truth is out there...

Bobby D - perhaps allowed funds rather than provided would have been a better choice of wording from me if we're being pedantic about it. And if you take away the ronaldo money does your argument still balance? Sorry but i've not got time to tot up every player movement since the glazers took over in order to run a balance sheet.
My comments inferred that the Glazers, like the Edwards, are simply in it for the money, and i don't believe that the club as a company will suffer that much as a result of further shenanigans.

bobbydazzler

No I'm not and no i haven't, although i try to get to OT as often as i can. But i do believe that the rising tkt prices at OT was and is inevitable. Ever since the transformation of English top football into the Premier League, money not football is the business. The EPL is a global entertainment merchandise, so is United and as such demands global entertainment revenues. You have to start compering football with other types of live entertainment. Don't get me wrong I'm not for a increase of season tkt prices. I think that United is a club that can afford not to price away long-term supporters, i think the club would be better of having these supporters at the ground on match day. It seams to me that there is better atmosphere among our supporters on away games. If you look at the statistics of our latest 20 league games, you will see that we score more away goals and consed less goals away than we do at home. I believe that this is partly do to the supporters.

Bunny, The lads looked perfectly happy to me over the last three years and so was I. CL was a dissapointment but that was down to us being well beaten. End of. Won the Prem. by default. Never. A record number of clean sheets on the bounce aint no default matey. As for the "spectre Glazer looking over" don't think about it. Simple. There are many games were every team has its unbeleivable and I wonder why that happened days and there will be many more to come. So relax and enjoy the good uns cause there will be more of them. Agree about the Edwards though and Martin who has never said a word before has a new book coming out so needs the publicity. I won't buy it will you?

Sorry Stevi France pinched your line without giving you the credit for it. Good post too.

Seeing as his father extorted shares from the old, frail and the ignorant to take control of United in the first place may be Edwards is not best placed to criticise the accounting of the orgainsation that made him a multi million by buying those 'stolen' shares 50 years later

My biggest worry is that our transfer spending once the figures for profits and outgoings have been taken into account is only about 6million.

bobbydazzler,
8/10/2009 at 11:39

Even though I am a blue i think you have come out with some good comebacks to your fellow fans. Just out off interest what was you ticket price when the yanks took over and what is it now?