The latest news coming out of Old Trafford is that the bank balance is down £100m from this time last year. This is partly due to player acquisitions and partly down to the now familiar United albatross of interest payments. However the situation has been sugar coated in the past by the Glazers PR machine, the fact remains that one shed load of cash has been spent on interest in the last 5 years.
The exact figure remains hazy, due largely to the aforementioned PR exercise, but it seems that anything between 250 and 500 million squid of Manchester United revenue has gone down the drain on the biggest credit card bill in football history. Literally, money for nothing.
Some say that United can’t compete with Manchester City in terms of buying players. It’s true but that is solely due, in my opinion, to the debt burden. Nothing else. If it weren’t for that United could, if they wished, compete for every single player that City have bought. United’s revenue, let’s not forget, is only bettered in world football by Real Madrid and Barcelona.
Indeed, Manchester United have spent a similar amount on interest in the last 5 years as Manchester City have spent on players since the Sheikh came. So while the Blues have stockpiled, Aguero, Nasri, Silva, Balotelli, Dzeko, Kolarov, Clichy, Tevez, Toure and the rest, United have spent a commensurate amount but just not on players. Whilst City’s recruits have been wowing fans with bravura football and concurrently closing the gap in quality between the squads in a matter of months, United have been acquiring average players due to their ongoing debts.
Since Cristiano Ronaldo left, United have bought Micheal Owen (one brilliant winner against City almost two years ago added to a lot of injuries) , Antonio Valencia (on top form now but not a jot on Ronnie), Bebe (you do the math), Ashley Young (very limited), Phil Jones (unproven), David De Gea (gifted but unproven and has cost United many points already this season), Chris Smalling (hot prospect) and Javier Hernandez (great find but having an average second season).
Some decent players in there but none from the top bracket of world footballers. The investment in the squad has clearly been tempered by the need to pay off the interest of the biggest credit card bill in the football world. Rumblings from Old Trafford persist that the management don’t like spending lots of money on mature marquee signings anymore and would rather buy young prospects. But what would you prefer as a United fan? Spending £50m a year on interest or £50m on Neymar, Bale or Hazard? Young AND top bracket players.
To my mind, it’s a crime on a monumental scale and quite how the dodgy double Glazers have got away with this is still something of a miracle.
Chelsea have arguably declined due to mismanagement, Arsenal have perhaps stuttered because of a shiny new stadium, but Manchester United have fallen off the pace becasue of nothing more than dodgy debts. They have been transformed from a superb goldmine of a football club into a walking credit card. Noone could possibly argue that the double Glazers have been good for Manchester United.
With the amount of money that the club makes, Manchester United should be getting ever closer to the standards set by the current Barcelona squad. Making an incredibly exciting (and young) marquee signing every year. But now the Catalans are just a small dot on the horizon as United continue to spend heinous amounts of the fans’ hard earned on debt that noone – including the board – wanted . Remember the initial talk from the United top brass about a hostile takeover when the double Glazers showed their initial interest?Since then it seems that the board have just put up and shut up.
What is most surprising about the whole scenario is that Sir Alex Ferguson hasn’t spoken up more forcefully about the situation. Being Scottish, and very prudent, you wouldn’t imagine that he would have a personal credit card so why has he allowed his beloved club to have one?
Manchester United has become like the hopeless daughter of rich family who, despite countless warnings, finds herself in massive debt every three months and comes running back to daddy to get bailed out all over again. Except that, sooner or later, United’s revenues may fall to an extent that they can no longer pay the bills. Because, if United don’t properly invest in playing staff, they can’t expect to reach the latter stages of competitions every year, leading to massively reduced revenues.
Sir Alex may be able to work miracles with his current squad but what happens when he leaves? They are already having to make do with the Europa league and most reckon that City will win the league, despite a valiant fight from Fergie, which illustrates that the United team spirit is yet to be extinguished.
It must be incredibly frustrating for Manchester United fans to know that so much revenue has been wasted at a time when United are making more money than ever. Sure the double Glazers have been partly responsible for the extra revenue from marketing and global tie ups. But I think that fans would rather just have their club back in the black thanks very much.
Tony Abela
Feb 22, 2012 at 1:20 pm
Unfortunately unless a knight in shining armour can come along and buy the club from the Glazers there is not much that the supporters can do. Perhaps all the supporters can unite and decide to boycott a game so that no supporter goes to Old Trafford on a particular game. That will hurt them where it matters their pockets. But I cannot see that happening.
Athil
Feb 22, 2012 at 1:32 pm
Dont buy any season tickets and that will soon sort them out. Stop buying the overpriced merchandise. I have supported this club since 1968 and been season ticket holder all these years, but I am finally losing patience with all the rubbish and lies that come out of our club when it comes to signing players.
I love United but while the Glazers remain there, I don’t want to give them any of my hard earnt cash !!