Manchester United – “Our indebtedness could adversely affect our financial health and competitive position.”
There it is guys. In presenting a plan to float shares of Manchester United on the New York stock exchange, The Glazers have effectively admitted what we have all known for 7 years – that they took over the club in a dodgy way that isn’t sustainable in the long term. They have denied it for years but this statement appears to show them in what many would say is their true light. They ostensibly see Manchester United solely as a business – a cash cow from which they are looking to extract as much as possible. They seem not to care not for the club, for its history or long term future. Judging by their attendance rate they don’t even appear to like football! They like money and they want as much of it as possible, even if it means slowly liquidating one of the greatest sporting institutions in history.
It makes you sick to the core to think that £500m has been wasted on credit card interest. £500m that could have made the club the most competitive football team in the world – up there with Barcelona and Real Madrid in terms of ability to get the top players. £500m that has been generated from the club’s success on the field over the last century. A club built from the ground up rather than through a rich modern benefactor. A proper club.
Manchester United should be owned by the supporters. Surely that is the only way to safeguard the health and future of the club. There is a common misconception that United are too big a club to fold. But do you think that anyone at Leeds United thought that they would be playing in League One within a few years when they were competing with Valencia in the Champions League semi final? Why did it happen? Well, most people think it was down to mismanagement of the club from the top level.