THE proof of the pudding is in the eating. So after a year sampling the Glazer's fare what will United fans taste buds be telling them?
Some Old Trafford supporters adamantly refused to dip their spoons in the American desert and sated their hunger elsewhere.
Most notably, of course, around 2500 of them chose to dine at Gigg Lane and other more modest places on the FC United diet.
Other equally vociferous detractors were unable to tear themselves away from a lifetime at the United banquet and have adopted a `grin and bear' attitude.
There was never a right or wrong argument to which faction you joined forces with when the Glazers took over 12 months ago.
If you couldn't stomach a Yank putting the club in debt, then fair dos if you took your business elsewhere.
Bitterness
If you couldn't break the bond with the club no matter who was in charge, then that was your prerogative.
If you chose to go to FC and MUFC then so be it. You pay your money and you make your choice.
Splits between one-time Old Trafford terrace neighbours have surfaced because of the takeover.
But falling between the new non-League conscripts and the resentful anti-Glazer brigade who've kept their United seats are arguably the majority who have noticed little difference between the plc recipe and the USA menu.
Many match-going Reds judge value for money by the entertainment and success they witness once through the turnstiles.
It is what Wayne Rooney and Co does on the pitch and Roy Keane, Eric Cantona, Bryan Robson, Denis Law and George Best did before them that counts.
Louis Edwards, Martin Edwards, the City bods and now the Glazers, it doesn't really matter one jot who runs the place if that buzz from walking down Warwick Road still stirs the emotions.
Capture
If you were a United fan that had to leave Old Trafford say two years ago and came back this season would you really have noticed much of a difference?
In 2004 when the plc were running the club United had won the FA Cup against Millwall, had been knocked out of Europe at the quarter-final stage and finished third, 15 points behind champions Arsenal.
You'd witnessed the mid-season capture of Louis Saha and the imports of Eric Djemba Djemba and Kleberson the previous summer.
Twelve months ago as the plc became defunct, United were unlucky beaten FA Cup finalists, finished third, 18 points behind title winners Chelsea and had been knocked out in Europe in the last 16. Gabriel Heinze, Alan Smith and Wayne Rooney were bought.
This campaign with the Glazers running the show, the Reds have won the Carling Cup, finished second in the Premiership, eight points behind Chelsea and were knocked out of the European Cup in the group stages. A total of é18m of new talent has been brought in by Sir Alex Ferguson.
Not much of a difference between any of those seasons and the last 12 months appears to have been a case of business as usual.
What do you think? Have your say.
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Got to say I fall in the category of 'grin and bear it'. Not happy that Glazer has taken over our club. But on the field we are still performing (to an extent), we have some very promising youngsters and we have been closely linked to some world-class players. What really worries me is the state of affairs off the pitch - ticket prices going up, all this focus on corporate hospitality etc. You can already feel the Glaziers draining the fans - like 70,000 cash cows! Can kind of understand where the FC United lads are coming from. But I still couldn't turn my back on United. Our club will outlive the Glaziers. Every football club has to be tightly managed business these days. Anyone who thinks this shouldn't be the case needs to get real. MONEY TALKS PEOPLE!!!
Whoever owns the club has the unenviable task of competing with Chelskis gold!
Price rises are part of football and society.
We did start rockily,poosibly because the side tried to accomodate the ageing Keano.SAF made a tough decision and the team since Keane's departure has played some good football.Everyone knows the team has weaknesses but I think they're trying to be addressed.The Glaziers themselves have been background figures and are certainly no worse than past owners.The quadrants have been built and a big sposorship deal confirmed, so you have to assume UNITED are progressing in some areas.The results and quality of play is where we would like to see most progress.Good luck SAF and the team.
nothing different apart from the fact that the club is now ??250m in debt. There is a further ??250m of debt indirectly linked to the club as hedge funds and the remeining ??200/300m used to buy the club will be wanted back at some stage.... you could buy some seriously good players with the annual interest payments alone, let alone the capital payments that are/will have to be made!
No, everything is still the same!!!
Mike, in the past few years probably 90% of the supporters have taken on a lot of debt. Do we worry about their ability to buy season tickets (and therefore pay the players wages). No we don't. The hedge funds are not stupid. They would not lend the cash unless the business and the brand was solid. So grow up!
Some Features of Hedge Funds You Should Know About
(Point 8 is the one to focus on Sean ;)
*A hedge fund is typically a privately organized pooled investment fund.
*A hedge fund predominantly invests in publicly traded securities and derivatives on publicly traded securities such as forwards, futures, options and swaps.
*Hedge fund strategies often attempt to benefit not only from the underlying performance of publicly traded securities but also from how those securities move relative to other securities or indices. *Many hedge funds use similar strategies when they take positions in currencies, commodity futures, and interest rate futures. *This is very difficult to do with consistent success.
*A hedge fund is more aggressively managed and traded than traditional mutual funds, its success depending on the fund manager not mismanaging often complex investment strategies.
*Hedge funds may use leverage or short positions, both of which increase the possibility of substantial losses as well as gains. *It is often difficult for people without a sophisticated financial background to understand the investment strategies used and how these strategies can result in value being lost more rapidly than with other types of mutual funds.
*Hedge funds have a higher failure rate than traditional funds: many fail within the first three years of operation.
*Hedge funds are far less transparent than traditional funds. For example, some hedge fund managers do not disclose the securities they hold or the extent to which they are leveraged.
*A hedge fund investment includes the payment of performance fees to managers in addition to the standard management expenses.
*Hedge funds may have a high turnover rate and be less tax efficient than conventional funds.
*A hedge fund is normally sold using an offering memorandum and usually requires a very substantial minimum investment. *The required investment amount may result in an unsuitable over representation of hedge funds in an average investor??<sup>TM</sup>s portfolio.
*Hedge fund investors are predominantly institutions and wealthy individuals. *Even these sophisticated investors have been exposed to significant losses, such as in the failure of Long-Term Capital Management.
Sean, you're the one acting childish with your "grow up" comment! All I was doing was pointing out that things are not the same as the article is suggesting and anyone who thinks they are is missing the point. As a banker, you would know the impact of loading a huge amount of debt onto a debt free organisation where that debt is not actually being used to develop it but rather to buy it. If they had borrowed the money to buy a new team, develop the stadium, etc. that would be a different thing, at least the money would be used for some good. That's hardly the case here now is it?
As for the 'customers' being in debt that is their choice - I don't remember being asked if I wanted the club put into so much debt for the benefit of a business man who has no interest in the club other than money. Were you asked?
Sean the investment banker .... as someone in a similar business to you, glad to see I am not alone in being financially rational about an emotive situation. See my post on the other Glazer story and feel free to agree or disagree. We were the only debt free club. Now we are just like all the rest.
I don't think that Glazer's plan won't work.
The problem with it is that it is the fans who will pay the price. For the second year in a row, we've seen ticket price rises. You could defend the rises last year due to the expansion, but there's no reason now... It's part of the Glazer-pan and we will see more of that in the future.
I will continue my fight against the Glazer as i don't believe it is the right thing for my religion.
My fight is almost the same as before the takeover. Back then i fought against the PLC. Supporter-ownership is the future for English football.
/Casper
OldTrafford.dk
Love United - Hate Glazer
It is incredible witless for Stuart Mattieson to say that : "Been a case of business as usual. " for United.
From the isolated cocoon of the press box it may appear so, but in the last year, the club has changed ownership, acquired a massive untenable debt and lost a fair size of its most committed Mancunian based support to FCUM.
But equally more morose is that United have progressively lost its Mancunian and football rationale to become a cosmpolitan cash cow for parasitical speculators.
Also to artifically pitch FCUM support and those who still attend Old Tafford against each other, is also an equally unwise analysis. Many FC supporters also attend "Big United" as well as being part of other campaigns such as MUST.
You have to wonder what purpose this rather strangely numb article wishes to achieve.
Stuart, thanks for the article. At last an honest piece in the MEN about the Glazer takeover.
The biggest weakness is Ferguson being left in charge.
A technical point for Sean. Hey, if you really are an Investment Banker(no pun intended!), then you should know how Hedge Funds actually work! The Hedge Funds who have lent Glazer the money are only concerned about getting their money back. It is of no real concern to them if the implementation of the Glazer Business Plan is NOT successful! Their loans are secured against the very valuable assets of Manchester United FC. If the Glazer plan fails they can still get their money back (& more)as they would be entitled to take over United & sell off any assets as they see fit! Now Sean, are you seriously telling us that this entirely possible scenario should not concern all Manchester United supporters??? The Hedge Funds lending Glazers the money should NOT be seen as them backing the Glazer Business Model! But shouldn't you know that already? You probably are an Investment Banker after all!
Why buy a business if you can't improve it? They haven't yet and probably won't with a megalomaniac (look up the definition) in charge.
At the end of the day a ??96 jump in my season tickets is a lot of money especially as there are going to be 10,000 extra seats anyway. Another jump in price like this next year which is what i fully expect and i will no longer be able to afford to go.
A Second point for the Investment Banker Sean. Yes many United supporters are becoming increasingly concerned about being priced out of being able to afford to attend matches. The large hikes in Season Ticket prices over the last few years(A trend that will continue & probably accelerate under the Glazers) has already seen many staunch supporters that have followed United for DECADES have to give up attending matches. Now many people believe there are lots of fans to take their place(time will tell if that is actually true!), so there is no problem then? If there are these possible replacements who can afford to pay the 'Glazer Tax', don't you question what type of supporter they are likely to be? Will they be attending matches in 20yrs time like the supporters they are replacing? What will happen to the already badly deteriorated OT atmosphere? Or, isn't there anything here to worry about too? Sean, I think you have some serious thinking to do. Now think on!
The Glazers have to find a way of keeping fans like Tony in Salford. Whoever holds the deeds has become of little importance to me they all are after the same corn. It does vex me people like Gill, Watkins & unbelievably Edwards still lord it & Ferguson has also lost credibility over his creeping but he does have alot to lose.
YOU CANNOT PAPER OVER THE CRACKS WHEN THEY'RE AS WIDE AS THE GRAND CANYON! MAKE GLAZER HISTORY BEFORE HE MAKES US HISTORY. IN GLAZER WE TRUST - TO RUN US INTO THE GROUND.
Dwaine B, South Manc - Who is GlazIer?
MY ST went up 80 squid last year. I had 2. I gave them both back to the club as I could find no-one amongst my friends who was interested in buying them (renting them) off me. The club wrote to me to remind me to renew. They then told me I could still renew & then they asked me again if I was going to renew. This was AFTER I'd returned them as ' no longer required'! Pay on the gate this year. Waiting list for the waiting list for ST's has disappeared. If I still had ST's they'd be going up 122 squid this year. I notice that someone at the MuEN seems to think you can add percentages together & give a realistic answer. You need to look at how many there are in each banding. To say they have gone up between 8-16% with an average of 12% does not take into account how many tickets there are at each band level. Some tickets have ACTUALLY gone up by 25% so where 16% comes from is anyone's guess. The kids have gone down but they must be accompanied by a full paying adult. Why? Then the car park entrance goes up by 60%! I have better things to do with my money. No, Fergie I won't go & watch Chelsea but I won't pay your daft prices either!
Stuart - it has nothing to do with the owner being a Yank. This is the kind of thing that the Glazers pick up on when we respond. It's to do with being the RICHEST CLUB IN THE WORLD on 11th May 2005 & being the POOREST in the world on the 12th MAY 2005 - that debt has risen by 54 million, none of it has been paid back, no players of any note have been bought, we've alienated 1-2, loaned out 26, released 3 or 4 but still the debt rises, sacked 15 or so staff with a further 25 this summer, I've heard. And rises ever faster. With no visible means of paying it off. If you have a problem with (Yanks) Americans then kindly keep it to yourself. Me,
I'm loving every minute at FC, paying my savings into MUST & 'holding my breath' for when we own OUR club again. I won't have to hold it for much longer as the day is slowly dawning. Oh, that it would dawn on a few more.
I think the proof of the Glazers' intentions will come this summer. Will we find the big bucks to spend on the Diarras, the Torres', and the Mascheranos of this world, or will we again be buying the Klebersons and Djemba-Djembas and settle for Darren Fletcher as third choice central midfield? I don't disagree with Ruud going, but if we have to settle for a second rate (i.e. cheap) replacement then we'll know the Glazers are just milking the club and do not have its best interests at heart.
I must admit that when the Glazers took over I thought I'd be reading about the sale of the Tampa Bay Bucaneers at some point as there is no comparison world wide, which is the stronger franchise.
Hedge funds not only want their money back, they want their return as well and it's interesting that there is already talk of re-structuring the debt. The main problem for a lot of people is the fact that we have an american owner and a lot of debt.
Would you prefer the Russian treating MANU like a toy? And what of your idols? Here today, gone off tomorrow. "Pariahs of the prem" one writer dubbed them and they are certainly the most hated team in England.
I'll take the Glazers and their business acumen any time plus I believe we are on the verge of having a very exciting team to watch every week.
My favourite quote was from a writer who didn't like us but had a grudging respect for the way we tried to play the game. That was after '99 and we may be about to emulate that wonderful one touch flowing football. There are players in the prem right now that would fit right in to our system and although some may take a bit of prying and cash, I'll bet that most of them would jump at the chance of playing for us.
To continue with the analogy, it would be appear many peoples tastebuds are beginning to dislike what's on the plate ! The signs are there already (e.g. boro h)that OT might not always be full next year. If more fans like Tony start to drift away then it'll be interesting to see glazers' next move. Good job, Fergie switched back away from 4-5-1 eh !!
GLAZER, WHEREVER YOU MAY BE, YOU BOUGHT OLD TRAFFORD BUT YOU CAN'T BUY ME, WE SANG 'NOT FOR SALE' AND WE MEANT JUST THAT, YOU CAN'T BUY ME YOU GREEDY CAT.
Business as usual....some of the fans over reacted as is the norm when there are changes.However we have to sign two world class players to finish Champions again.
I can't believe people keep saying that 'Oh, Glazer wasn't so bad', or 'things seem to be going well'. To Sean the Banker: If the hedge funds felt som safe about the brand, why do you think they take up to 20% interest? Because they don't count on getting their money back! Your friends in the City will explain to you. I am also tremendously disappointed that Mathieson and the MEN sink to this. How can that mountain of debt be business of usual, just because they don't display the interest rate payments among the Stretford End banners. This was never about whether the team finished 2nd or 3rd. It is a long term disaster. As for the transfer money Mathieson somehow thinks the Glazer offered, consider the savings from player sales and loans out first. I am worried about Mr Mathieson's journalistic integrity. And Sean, as for growing up vs wishing that United is run in a way at least in part advantageously to the supporters, you can go support a soap factory if that's all football is to you. And it would be a step up from what I bet is your dear Man City.