Manchester United - Hollow Promises From The Glazers?
UK time is: 00:22:49
Vital Login
Social Login

Choose your club

Other Sites

Network Navigation

Vital Partners

'If It's Football, It's Vital'

Hollow Promises From The Glazers?

The Glazer family insists that Manchester United are not affected by the credit crunch that is a serious concern for the economic world.

A spokesman for the Glazer family told Manchester Evening News:

'The credit crunch is not having a negative bearing on United. It is having zero impact on United. 'We continue to benefit from the sell out of Old Trafford and the growth in our commercial operation.

'We refinanced back in 2006 and that structure provides long term stability. The debt continues to be comfortably serviced by the club's strong growth in cash flow.'


The question is, can we believe them? If rumours are true, even Barclays and the Royal Bank of Scotland are struggling with difficulties and are in need of assistance. It is no rumour but a solid fact that our shirt sponsor AIG was on the verge of going bust and were saved only by an intervention of the American government as they couldn't allow such a vast company to go bust as the effects would have been too severe.

In the circumstances, it sounds a tad hollow that United, which is after all a business firm as well, is unaffected by this recession. I'm no economist though so I'm forced to take their word on it, especially as independent experts regularly contradict each other about the current situation.

Of course I do not fear some monumental collapse of the club: I know full well that the name Manchester United itself assures that even if the Glazers go bust then we find one of Blatter's and Platini's worst enemies: a new investor. It is uncertain whether AIG will keep up their deal with us but there are countless companies out there who are prepared to pay similar amounts for such a heaven-sent business opportunity.

But, even though I do not fear major problems, who wants seven lean years to come after the recent successes? No one at all. So let's hope the Glazers talk sense - after all, you can hate them with all your fury but can't deny that they are extremely able businessmen. At least.




Use your social login to comment on front page articles. Login using you Facebook, Twitter, Google or LinkedIn accounts and have your say!



Click here to join in the debate on the club forum.

The Journalist

Writer: Zae Mail feedback, articles or suggestions

Date:Thursday October 9 2008

Time: 2:44PM

Your Comments (oldest first)

Change to most recent first
It seems very hard to believe they are immune to the financial problems thats effecting the business world. Good Luck!
ArabianKnight
Report Abuse
10/10/2008 00:04:00

everyone is affected by the credit crunch how can the glazers say that united are affected by the credt crunch after all they ran up the debts to buy the club every premiership club is affected by the credit crunch even bruce buck chelsea's chairman said even they are not safed by the credit crunch i hope this is true that united aren't affected by it thoigh m.u.f.c. 4 ever!!!!!!!!!!
matth01
Report Abuse
10/10/2008 14:38:00

 

Have Your Say

Log in...
with your social network     OR     with your Vital account

Recent Manchester United Articles

Is Giggs the Next Chosen One? (Thursday September 3 2015)

United - More on Anthony Martial (Thursday September 3 2015)

A Chance Gone For Ever? (Thursday September 3 2015)

De Gea - New Deal to be Offered (Thursday September 3 2015)

Getting to Know - Louis Van Gaal (Thursday September 3 2015)

AUDIO: Ray Parlour : LVG Should Play de Gea (Wednesday September 2 2015)

United Acted Appropriately and Efficiently (Wednesday September 2 2015)

The Big Martial Question (Wednesday September 2 2015)

Young United Keeper Goes Off On Loan (Tuesday September 1 2015)

Archived Manchester United Articles

List All Vital United Articles
Have your say
Click here to suggest an article
Click here to suggest a poll
ScoopDragon Premier League Network Sites

Vital Members League (view all)

1. MotorMad 10
2. TheFamousNo7 8
3. kelvinme 1
4. kashere21 1

League Table (view table)

Team P W D L GD Pts
2. Crystal Palace 4 3 0 1 3 9
3. Leicester City 4 2 2 0 3 8
4. Swansea 4 2 2 0 3 8
5. Man Utd 4 2 1 1 1 7
6. Arsenal 4 2 1 1 0 7
7. Liverpool 4 2 1 1 -1 7
8. West Ham 4 2 0 2 3 6

Manchester United Fixtures (view all)

Breaking League News

Stoke submit 25-man Premier League squad
Stoke : 03/09/2015 23:30:00
Albion Confirm 25 Man Squad
WBA : 03/09/2015 19:27:01
Newcastle Announce Premier League Squad
Newcastle : 03/09/2015 19:18:01
City Announce 2015-16 Premier League Squad
Man City : 03/09/2015 19:12:00
Palace Announce 25 Man Squad
Crystal Palace : 03/09/2015 19:05:00

Current Site Poll (view all polls)

MOTM v Swansea?
Suggested By:  Red Boy
Romero 36%
Darmien 9%
Blind 0%
Smalling 3%
Shaw 28%
Schneiderlin 7%
Schweinsteiger 1%
Herrera 7%
Mata 5%
Depay 1%
Rooney 1%
Young 0%
Carrick 1%
Fellaini 1%