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Friday, 10 April 2009

MUFC - For The Love, Not The Money

mufc love not moneySir Alex Ferguson has been out defending the Glazer family after the latest financial statement from Manchester United's parent company revealed debts of almost £650m. According to some fans, this is a sign of a club in crisis but that seems a little excessive to me personally.

However, Ferguson has never had any complaints about the Americans, who have backed him in the transfer market and have stayed out of the spotlight and, while he accepts debt was a major factor in the Glazer buyout almost four years ago, the United boss does not feel anything is likely to change as a result of Thursday's announcement.

''Their support has never changed, 'I do not know what these figures tell you. 'There has always been debt since Malcolm Glazer took over the club. Most buyouts are like that. But there is no change as far as I am concerned.''

For all the criticism their financial structure has attracted, the Glazer family have never given any indication they are concerned at the amount of debt hanging over United. They still return vast profits on their business dealings, with wages still well under 50% of turnover.

I'm still waiting for this 'crisis' some fans go on about. I don't see it happening any time soon and this is right in the middle of a credit crunch. Malcolm Glazer began his business career with a van and $300 in his arse pocket and is now worth well in excess of $1 billion so I would assume from that he has a rough idea of what he is doing. Some fans just need something to moan about maybe. Or one day they might be proved to be right, in which case I'll eat some humble pie. But for now, enjoy what is and we'll see what the future holds....Back To Home Page...Bookmark and Share

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