Owner Fuels Speculation of a Financial Crisis
Features, News | Harry | December 8, 2009 at 1:32 pm
Manchester United owner Malcolm Glazer has sold his £14.5 million Florida mansion amid fears that he has been hit hard by the credit crunch.
It’s a worrying sign for United supporters, many of whom have been worried about the Glazer ownership for some time.
Since the takeover in 2005 which saw the Glazers transfer their £690 million debt onto the club, ticket prices have gone up 42% while there has been a net transfer spend of just £1.25 million.
Just last week, the club pulled out of their deal to sign Partizan Belgrade’s Adem Ljajic for £10 million and there have been reports of massive cost cutting at the team’s Carrington training ground.
Duncan Drasdo, Chief Executive of Manchester United Supporter’s Trust believes that the Glazer’s ownership is damaging the club:
“With our revenues we should be competing for players of the calibre of Lionel Messi and Kaka.
“Instead we have to carry the deadweight of the Glazers’ ownership.”
This is sure to worry United fans, who were expecting to see their side dip into the transfer market next month.
Now, it remains to be seen whether that will be the case, or if the team will continue their money saving measures.
What do you think about the Glazer’s ownership? Are they doing a good job or is it time for them to leave?
By Harry Veal
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All Man Utd supporter pray for the day to see the back of Glazers. They should not have been allowed to burden the club with this debt. The sooner they go, the better.
Time to leave???
There was never a time to arrive!!
I will welcome the day the glaziers leave, unfortunatelly I dont see it happening.
Its all about the money, and if they dont sell soon they will be selling at a loss, and that may just prove to be unacceptable.
While SAF is manager Utd will be fine, but when he retires the owners will have a perfect scape goat IF results go to pot. “We have never recovered from the loss of the great manager”.
I dont worry for UTD’s pressent, but I do worry about the clubs future. Another class of 92 is the only way for UTD to win, and save cash.
I agree, as a fan myself I can’t wait for them to leave. They simply don’t have the money or the interest in the club and a club of United’s stature quite frankly deserves a better, more committed owner.
I also agree that Sir Alex is pretty much holding the club together at the moment and I hope that a new manager, when they come in, is given a chance.