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Time to apogize to Malcolm Glazer

F

farmboy

Reserve Team
what I don't get, Shifty, is why you're so vehemently defending glazer. he's a big boy, he can defend his business decisions himself, and if he can't then its maybe a sign that they were terrible decisions in the first place. now i will grant you that as of now, there's been little significant impact on the on-field product, but the other side of it is that i get pretty wary when I start hearing that they might consider selling Old Trafford, or at the very least naming rights to the stadium. Sorry, but there's to damn much history and tradition in that location; it deserves better than to be used as a corporate schill.
By the way, before you think I'm suggesting OT is so much better than anywhere else, know that I feel the same way about Anfield and several other stadia around the globe. On the other hand, last time I checked there's been no discussion of camp nou being renamed camp coca-cola.
 
N

newbie original

We apologize for keeping the yellow too long
Yellow Card
Liverpool has a huge debt, but this isn't about Liverpool Football Club now is it:

Debts at the parent company of Manchester United have increased to £716.5m ($1.17bn), according to its latest accounts.

Red Football Joint Venture is owned by the Glazer family and secures its debts against the football club.

The accounts, for the year to June 2009, show United's debts passing £700m for the first time.

They also confirm that six of Malcolm Glazer's children were each given loans worth £1.67m from the parent company.

All are directors of Red Football, and such a practice is legal.

However Keith Harris, the head of merchant bank Seymour Pierce who has been involved in four Premier League club takeovers, questioned whether it was sensible.

"You would not expect directors to be borrowing money at a company of United's size," he told the Guardian newspaper.

"And, although it is now allowed legally, it is generally still frowned upon because it does not create a good impression of the directors' governance of the company."

The club's fans have recently protested against the Glazer's ownership.

After last week's revelation that the club was considering raising £500m through a bond issue to refinance its debts, supporters held up a banner saying "Love United, Hate Glazer" at Saturday's home match against Burnley.

Mark Longden, chairman of the Independent Manchester United Supporters Association, said then that United was being "driven to oblivion".

The accounts of Red Football Joint Venture also showed that more than £69m was paid out in interest alone over the year.

Despite the debts, the club turned a profit of £6.4m for the year.

This was a marked improvement on the £47m loss reported at the end of the 2007/08 season.

The accounts also show that player sales brought in a profit of £80.7m - the price paid by Real Madrid for Cristiano Ronaldo in the summer.
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EDIT: Source = BBC
 
N

night

Starting XI
The practice of taking loans from the company is legal, but it is well known that such behavior is generally frowned upon.
I'm wondering if those leeches will ever leave the club and if we'll ever get an honest owner that cares about the wellbeing of the club. This is getting ridiculous for f*ck's sake..
 
N

newbie original

We apologize for keeping the yellow too long
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Football financier Keith Harris has been approached by wealthy investors to broker a takeover of Manchester United.

Manchester United's Supporters' Trust has held meetings with influential club supporters interested in exploring the options for a change of ownership.

And Harris says that the time has come for supporters to buy the club back from the Glazer family.

"You sense that the momentum is gathering and this time these fans truly mean it," Harris told BBC Sport.

"I think they are saying that enough is enough, there is too much gearing on this football club and it is unhealthy."

Harris, the head of merchant bank Seymour Pierce, has been involved in four Premier League club takeovers and has long been critical of United's debt that earlier in January was recorded at £716m.

United's recent bond issue raised £500m to ease their debts, but also provoked a furious backlash from many fans, some demanding an immediate change of ownership...
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http://news.bbc.co.uk/sport2/hi/football/teams/m/man_utd/8488910.stm
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MUST was formerly Shareholders United.
 
K

kp41

Fan Favourite
That's actually the best thing to happen but it needs a great plan and future prediction behind it.
 
P

p-aj

Club Supporter
newbie original;2804841 said:
Liverpool has a huge debt, but this isn't about Liverpool Football Club now is it:
Click to expand...

The difference is that you always had debts... u are used to it...
 
M

MaestroZidane

YELLOW CARD: Untrustworthy
:rofl: Those moments in south park really get me rolling on the floor. WOuld have used the rooster bit as well... But now we're getting off topic.
 
N

newbie original

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Manchester United manager Sir Alex Ferguson has rejected claims he is supporting a potential takeover of the club by a group of wealthy fans(the Red Knights).
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"There were plenty of green and gold scarves on Sunday [in the Carling Cup final win over Aston Villa] and I was delighted to see them supporting the club," he said.

"We are quite happy. As long as they are supporting Manchester United they can wear whatever they like.

"I have no issue with the Red Knights. I know some of them. I don't deny them the right to protest.

"If they want to try and buy the club that is entirely up to them."
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What else is he going to say? That he supports them? HA!

You know, he has been known to be in this position for a while now. It's not something that has just come up. He has commended Shareholders United, in the past(when they were still around), on numerous occasions and I'm guessing that some of those persons are involved in this takeover group.

EDIT: Source = BBC
 
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