MUFC - For The Love, Not The Money

Sir 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...

Manchester United + Hublot = More Money !!

Manchester United have signed a new multi-million pound sponsorship deal with Swiss watch manufacturers Hublot. The three-year contract comes hot on the heels of similar contracts with Saudi Telecom, Seoul Metropolitan Government and Budweiser.

It just goes to show that despite all the moaning and groaning by the Anti-Glazer brigade the United brand has become stronger and stronger, even during a worldwide economic slump which has seen West Ham's shirt sponsor XL go into administration and Manchester United's other sponsors AIG be effectively bought out by the US government.

While some critical fans vehemently opposed to the Glazer family ownership will continue to insist United's finances are precarious, club officials will point to increased sponsorship as evidence to the contrary.

David Gill, Manchester United's Chief Executive said: "We are delighted to welcome such a prestigious partner as Hublot to the Manchester United family, their reputation for excellence and innovation makes them a fitting and exciting sponsor for the club. Sir Alex (Ferguson) is known as a stickler for timekeeping, both on and off the pitch, now we have a partner that shares his passion." .....Back To Home Page

AIG Still On The Brink Of Collapse But Glazers Insist All Is Well

Manchester United's American owners insist the club will not be affected by the credit crunch. The financial meltdown currently affecting the global economy has already begun to infiltrate the football world, with clubs feeling the pinch after years of over-spending. Billionaire chiefs such as Chelsea's Roman Abramovich and Manchester City's Abu Dhabi United Group can handle the cash catastrophe, but there were fears that United may struggle.

The club remains £660million in debt following the Glazers' 2005 takeover, but continue to generate enormous revenue around the world. A refinancing package in 2006 has helped the club to manage their debt and a spokesman for the Glazer family has played down concerns regarding the club's financial health.

Growth

"The credit crunch is not having a negative bearing on United," they said. "We continue to benefit from the sell-out of Old Trafford and the growth in commercial operations. 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."

United's shirt sponsors, AIG, have been hit by the credit crunch in the States, with their future remaining unclear. In fact, having received a loan of $85 Billion recently, they were granted a further $38 Billion only yesterday to keep them afloat. However, United insist the £14million-a-year deal with the American Insurance Group represents only a small percentage of their revenue stream.

Manchester United remain confident that they could strike a lucrative deal elsewhere should the AIG contract fall through, while they have recently struck a commercial deal with Saudi Telecom and extended their link with Budweiser...Back To Home Page.

Manchester United's AIG Sponsorship Deal Looks In Jeopardy

Manchester United are on the brink of losing
their lucrative shirt sponsorship deal with AIG
according to the Daily Mirror. The American
insurance giants are looking to cut costs.

The English and European champions are still
owed half of the money on the £56million
agreement they sealed with AIG two years
ago.

After being rescued from meltdown by a huge
£43billion loan from the American government
last month, AIG have now embarked on a new
massive moneysaving exercise.

That is likely to spell bad news for United - and
fans who have bought replica kits with the AIG
logo.

There will be no shortage of companies queuing
up to replace AIG on the famous red shirt.

But the end of the deal would still be a blow for
Malcolm Glazer (left) and his family as they bid
to secure refinancing on the £700m they took
out to buy the club.

A new sponsorship deal would take time to
secure and is unlikely to be as lucrative as the
AIG agreement.

Bad news indeed ! Especially as the re-
financing deal was set to make life easier
for United with regard loan repayments
etc etc, but the anti-Glazer mob have
something else to moan about now at
least. The replica shirt problem wont
affect me, I refuse to wear anything made
by Nike, Adidas and Reebok because they
use child labour which is tantamount to
child abuse and I don't want any part of
their sordid business.