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Debts? You're Having A Laugh

Debts? You're Having A Laugh

Debts? You're having a laugh. That's what most fans of other, especially lower league clubs say when you talk to them about United's debts. Yet it is a real concern - or we think so, unlike the Glazers who are satisfied by the financial situation.

Manchester United Supporters Trust claim that interest payments have risen to Ł100m a year but it has been swiftly denied by the owners.

The story is inaccurate,' said a spokesman for the Glazer family. 'Nothing has changed.

'The debts continue to be comfortably serviced by the business, which is performing better than ever.'


'As always there have been substantial funds for the manager to purchase players over the summer.'

The last bit is certainly true. And otherwise what can we do? We must hope that they tell the truth.

Yet I feel I must make a little note here. I heard a lot of our fans talking about the Leeds situation and that we could end up like that. Well, I think it's rubbish, it's not that easy to draw parallels.

I mean no offence now (please believe me Leeds fans) but Manchester United are light years ahead of Leeds as a brand, as a marketing product. Our income from merchandising is almost astronomical, we have a huge stadium which always sells out and are always in the Champions League.

So, if debts really spiral out of control, I think the worst that could happen is that we slip back to fourth to a good distance from the top. And if we really plummet into a good, old-fashioned (or new-fashioned) financial crisis, well, I expect that there will be always some investors who would be only too happy to purchase United: after all, not a week has passed in this last year without at least one fresh takeover rumour.

Yet I think the Glazers will not sell it and won't take it into disaster. I don't like them and their automatic cup ticket scheme just STINKS but I can't imagine that they would mess it up completely.

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Writer:Zae
Date:Sunday September 9 2007
Time: 4:52PM

Comments

0
http://www.newsoftheworld.co.uk/0909_man_united_debt.shtml
Babeasta
09/09/2007 17:24:00
0
There is no comparison to Leeds, and I think ManU are in a strong position to service these debts despite a £100M annual outflow. But it should certainly be a concern for fans, as this is money that could be spent on the squad, or elsewhere, for the benefit of the club, rather than suffer due to poor re-financing deals.
prits
09/09/2007 17:37:00
0
That's what happens when you borrow to buy! Unlike our rich gaffer whose loaded!
merlin
11/09/2007 19:31:00
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