A LEADING football finance expert believes the Glazer family will break the promises they have made to Manchester United supporters over the last 24 hours.
Brothers Joel, Bryan and Avi yesterday went on a charm offensive in the wake of their tycoon father Malcolm's controversial £790million takeover of the Old Trafford club.
The American trio insist there is nothing to fear from their buy-out, and that it is business as usual, even though they are believed to have accrued debts of £500million in completing the deal.
In order to recoup some of their staggering financial outlay, there had been suggestions the Glazers would sell the club's TV rights individually, but have pledged to abide by the current set-up where the rights from all 20 clubs are sold together.
They have also made it clear they will not put up season-ticket prices above the normal rates of the last five years, and more importantly, that manager Sir Alex Ferguson's hands will not be tied when it comes to dealings in the transfer market.
But Professor Tom Cannon, of the Kingston Business School, believes that at some stage they will go back on the vows they have so far made.
"It's very difficult to see how they can keep these promises," said Cannon.
"They've acquired a lot of debt and there will be a lot of expectations upon them from their preferential investors.
"If they are not to go down the more conventional routes in terms of raising ticket prices and denying the manager funds for transfers, then they will look to square the circle in two ways.
"The first would be an intensive expansion of the merchandising activities at Old Trafford.
"If you look at an American football club, virtually everything within a stadium is branded, from the seats right through to the paper cups that hold your drinks.
"They may believe they can do something similar in England, looking for the fans to spend above and beyond what they have simply paid for a ticket.
"The difficulty is, in an American football game there are so many breaks in play it allows the spectator the opportunity to go and buy something, unlike in football where there is a mere 15-minute interval.
"There is no doubt they have been successful in this respect with the Tampa Bay Buccaneers, so if they can do something similar with United, then every club will cheer them and will probably go down the same route.
"The next option is broadening the impact in what the team does and making them more global.
"Football is reputed to be a global game, but the majority of United's income still comes from the home market.
"There has been a lot of huffing and puffing to get United recognised in the US, but they have made little headway, so if they can crack that market and make serious inroads into Asia then that would help."
Cannon, though, feels their words are a smokescreen to appease fans, in particular in light of the protests that took place when they visited Old Trafford on Wednesday night.
"At the end of the day, if they put up ticket prices and tell Sir Alex Ferguson he must buy a player for £1.5million rather than £20million, what are people going to do? Take the club off them?" queried Cannon.
"This is their club now, so they will just turn round and say `sorry, we thought we could do this and that, but it's not worked and we're going to have to put up prices after all."
Expert doubts Glazer promises
July 01, 2005
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See its not just the amateur accountants at SU that have grave concerns.
when will the rooster come home and it dawsn on everyone?
The figures DON'T add up.
I hope the likes of Sir Bobby are reading this article. I cannot believe supposedly intelligent men like him could be so easily convinced by the Glazers after only a few hours' meeting. Talk of the Glazers knowing United's history etc. is laughable. Anybody can read about such things a few hours before a meeting knowing they'd definitely be asked questions in those areas of the club. Get it once and for all, Sir Bobby, these guys are in it for the money and money alone. They don't care about the average fan who have put so much into the club all these years. And that will be their downfall because as emotive as these fans are invloved with their beloved club, there's a limit as to what they'd be prepared to pay just to line some greedy Americans' pocket.
Surely this can't be true. Well I for one am prepared to 'wait and see'. Next you'll be telling me father christmas doesn't exist . Just in case i'm going to take out a big loan from the bank to buy extra merchandise this season . Just to give Mr Glazer a little bit of extra help in these testing times. Gawd bless u mr glazer.
Tiny tim's fine. Tanks 4 askin'
P. Kennedy, do you think the PLC knew or cared about United's history? Or were they in it for the money?
It's very simple. The Glazers must pay the investment bankers 50m a year in interest. You don't have to be a genious to figure out that it means less money for transfers and higher ticket prices. And I don't think they can do things so much differently compared to the old board in terms of increasing revenue, breaking the markets in Asia and US, turning fans into customers and so on.
Typical of the gullible America-hating idiots who post their rants here to take the word of a self-proclaimed "football analyst" at face value. In the US, the only people lower than politicians and lawyers are financial ANALysts. They're noting but bottom-feeding charlatans and con-artists. You might as well take your money to a betting shop and give it away before listening to the advice of people claiming to be financial experts.
Another story which is just a means for the media to stir the pot. For every 'expert' you can find to say it dosen't add up you can find another who's says it does.
Just apply a bit of common sense nobody but nobody is going to invest B#150 Million of their money into a venture and not expect to make a profit. Yes the debt repayments are a worry but the Glazers know this and still invested their money which suggests they are either stupid (unlikely) or astute businessmen who believe they can meet the payments and remain solvent.
We will all just have to wait 12 months to see if what the Glazers are saying is true or if
it's a pile of BS
Whats done is done and we just have to accept it.The club sold out along time ago when it became a plc.Nothing has changed.Same manger,same staff,same OT.lETS NOW GET BEHIND IT AND WELCOME SOME NEW TRANSFERS AND SUPPORT WHO WE REALLY SUPPORT.tHE LADS IN RED AND WHITE.The Chelsea supporters did not crucify the Russian and within two years won the Prem League and were unlucky in the C.league.We have been third two years in a row and got knocked out early in the champions league.The Glazers know they have to buy big to have success on the pitch-so lets wait and see.
I agree with Jim . And all those nice american boys with the cool shades are just in Iraq to fight evil and spread democracy . It's nothing to do with all that oil under the sand. And now Mr Glazer has come to save us ungrateful wretches in Manchester . Where would we be without all this altruism ? (Its in the dictionary Jim) Get out there and buy those replica shirts ya commies.
A minority of fans do not think you are entitled to your own opinion. as in sir bobs case. but there is a vast marjority who live in the real world. seat prices went up this season before the glazeirs . there was no money for players. rooney was bought over 2 seasons. so the future was ,nt looking to promising. .For seasons now. the minority moaned when a new kit came out.tickets prices went up. boycott the semi,s . .and now they are complaining that fergie has only got 25 million to spend. as well as us being in debt now. ITS alright accountants telling us. there sums don,t add up ..BUT IT,S ON THE PITCH THAT MATTERS, if the team are rubbish we are in the mire. because that is what matters
Amazing. We have the biggest debts EVER seen in the world of football and it doesn't get a mention in the MUTV interview.
I think you Americans need to get that chip off your shoulder. Its true that most of the world hates your country and for very good reasons in the main, just like much of the world hated the Britich Empire for similar reasons.
But this issue has nothing to do with nationality. There are stil people in Brooklyn who mourn the loss of the Dodgers and I sympathise with them because it is about a real cultural institution being taken away from its community. It is a problem of globalisation, not nationalism.
And please stop wheeling out the 'the plc were no better' chestnut. WE NEVER WANTED PLC STATUS AND WERE DEAD AGAINST IT, AND WE NEVER BENEFITTED FROM IT.
Of course it's better to listen what Glazers say. I remind you that they know nothing about football. Football finance expert does, because it's his job. Jim Krammer, New York, NY - USA - any chance you work for PR company recently hired by some bloke from Florida called Malcolm?
Anyone who believes the Glazers when they say it'll be business as usual are deluding themselves.
They say nothing will change. The money the club currently makes isn't enough to pay back their loans, so they'll have to change things.
It's time to wake up, they're only in it for themselves. People who don't realise this will be the ones who cry and moan the most when they sell Rooney.
I find it amazing that despite evidence staring them in the face these american posters still chose to ridicule what is so blantantly obvious. Glazer will do all the things he said he wouldn't just to try and keep up with his debt repayments.
Face the facts.
It seems to me that this whole sorry state of affairs can be laid at the door of Sir Matt Busby prior to his involvement in the club United were just another team. Sir Matt had the vision to develop youth and to introduce United not only to Europe but the World, this of course generated a Global support unequalled by any other team in any country. However there seems to be a perception that because the Glazer's were not born in Hulme or Ardwick they can't possibly be United supporters that's CRAP I don't like the level of debt they are saddled with but that is now fish and chip wrap, of course they could be lying but as a true supporter I hope not. What I find less credible than the Glazers though are the so called supporters groups ie the Independant Supporters were they not welcome in the Official Supporters Club and of course Shareholders United how on earth did the Glazers get 98% if they were anywhere near as strong as they claimed or did they just take their cut and run . Whatever one thing it shows quite graphicly is that United were certainly never owned by the true fans in the past few years, so for my part I say give them a chance onward and upward. (and lets buy a decent playmaker while they are still trying to impress)
TO ALL THOSE OUTSIDE THE BRITISH ISLES: I always standing up for what I believe. I post to predominantly share my thoughts with my fellow Mancunians whom I don't want to see exploited by freeloading yanks. I make no apologies for commenting on an article in our local news paper about our local football club. So why don't you spend more time reading yours. I think it incredibly arrogant for anyone outside Manchester to try and dictate to Mancunians what we should spend their money on. We know any comments made from posters from outside the U.K. and Ireland will be from people who watch football on television and fool themselves they support Manchester United. Any comments from these saying "forget the debt", "get behind the team", "Trophies are all that matter", "the Glazers are ok" and other similar crass comments are deeply insulting. You even think they have the right to criticise us for opposing the Glazers. You have to be the rudest people on the planet. And don't give me that crap about United being a football phenomenon supported in say Tokyo, because Tokyo isn't in Manchester. nor is Australia, any of the Americas north or south, the whole of Africa, Continental Europe, Asia, Antarctica, the North Pole or a splattering of islands in and around these places. Outside Britain and Ireland, know body has a regular season ticket for O.T. and pay out each season for little more that a replica shirt. How would you like it we all went on line to your local news papers and told you to spend your money on paying other peoples debts just so we could watch T.V. in Bars and Saloons. If you are all such 'avid' United supporters you go to O.T. month in month out for nine months a year and get exploited. I hate seeing people being exploited, especially my fellow Mancunians. Those who choose to continuing going to O.T. then that's their choice. But is should be an informed choice which requires listening to other people. Absolutely everything I have ever posted has been based on factual information. The more grass roots reds I can persuade to leave O.T. the better. I would quite happily leave the whole place to tourists and day trippers who gate crashed the O.T. party in the first place. I would prefer all the old school reds to start supporting F.C. United so we could all stand together and laugh at all those mugs over there being ripped off. F.C. United is probably the only good thing that's come out of all this Glazer business.
Are you trying to say the people who have been running United know anything about football since 1999 we have gone backwards 6yrs without getting far in Europe Kenyon made United rich thats why Chelsea took him.Glazer will change things hopefully we may win something.I would not like to stand trial with any of you as jurers.I think a minority of United fans are Racist and this proves it.
Free Red, it's a fair point that most of the money taken at the gate comes from people who live in the British Isles. But like it or not, MUFC has fans all over the world and they're entitled to an opinion whether they subscribe to MUTV, buy a new shirt each year or wear Phil Neville pyjamas. Since when does the amount of money you spend define how much of a fan you are? Are the corporate fat-cats who buy top-price season tickets in bulk more entitled to have their say about Glazer than someone who can only afford to attend the odd match? United has become the size it is and can afford to buy the best players thanks to money coming in from fans all over the world. You Mancunians have the option of switching your allegiance to FC United, millions of other United fans don't. So if anything, they have MORE of a right to ask that everyone continues to support MUFC through these difficult times, no matter who owns it, than a local fan like yourself. And if you really can't stand what MUFC has become by all means support FC UNited but don't come on here and tell fans of MUFC whether they're allowed to have an opinion or not.
Get over yourself Jim Krammer! There are plenty of good reasons to dislike Americans, but this isn't one of them. Glazer's takeover is bad for United because of the monumental debt it involves, not because he happens to come from some place other than Manchester. A formerly profitable club finds itself laden with crippling debt (virtually overnight) and with nothing more to show for it than two bald daddys boys and one fat one. This is nothing less than day light robbery.
Would someone kindly tell me what the figures are that don't add up. Loan amounts, conditions and interest rates would be a start. What about details of all the other Glazer finances. I think you'll find that you don't have all the information. So how can you pass judgement. Stop saying the figures don't add up when you don't know the figures. Do you think this so called expert has all the information, or maybe SU have it, what about the press, Maybe my financial advisor could help. Sorry for the sarcasm, but only the Glazers have the full picture, so we can all second guess until the cows come home. Only time will tell. Until then support the boys.
Free Red. Just because you live in Machester or the British Isles, it doesn't mean it's your club. It's not and it never was, get over it. It was Edwards club, it was Magnier & partners' club and now it's Glazer's club. People all over the world support clubs far away. If support to you means entering the stadium on match day, then so be it. What you are missing is that even those who watch on TV pay for it. It may not be as much as for a ticket, but nevertheless we pay to watch the team and also pay for merchandise. Please check the financial reports available for free at manutd.com, you will see how significant those "non-matchday" revenues are. As much as you have the right to voice your opinion on Glazer, Glazer also has the right to conduct his business as he pleases. If he sells Rooney tomorrow, go home, cry and learn to live with it. If you want to join FC United of Manchester, go ahead and hope Glazer doesn't sue you for trademark infrigement. We Fans outside Manchester also have the right to call ourselves fans of the club, the right to watch on TV or even fly to Manchester and to buy merchandise. It is because of us "outside the british Isles" that companies like Nike want to be associated with Man United. Please grow up. Next thing you are going to tell us to stop speaking english?
Tony of Essex
Well, in fact, the actual figures were on public view at Allan & Overy in London (had to be done for the benefit of those shareholders offered B#3 per share by Malc and the boys b " you know, takeover rules and all that). So, yes, SU and others have scrutinised the actual figures, carefully analysed them and reported their findings in great detail. And guess what? That's right, they don't add up, or at least they do add up to financial disaster for the club. But hey, don't take notice of the facts if they get in the way of your point of view. Why not check out the full, detailed and expert financial analysis on SU's website?
Its quite straight forward really. if you want to support what the Glazers are doing and so detest those of us who care enough to protest against what we think is wrong, then get yourselves organised, get up off your lazy backsides and protest in your 'majority' numbers outside old trafford. the we'll really know that you care about the club as much as we do.