[Football] Manchester United Fans - A bit of perspective required

nickbrighton said:

while I have no real sympathy for the entitled pricks of Manchester (Blue or Red) my understanding of how the Glaziers bought the club is that prior to the deal, Man Utd had no debt. The Glaziers borrowed the money to buy the club, and then gave that debt to the club, landing Man Utd something like half a BILLION pounds in debt, with massive interest payments and so on

In my mind thats just crazy. The Glaziers own UTD, bought with money they dont have, and can walk away, leaving the debt behind. It doesnt make sense to me, and I csan see why true fans of the club want them gone

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nickbrighton said:

while I have no real sympathy for the entitled pricks of Manchester (Blue or Red) my understanding of how the Glaziers bought the club is that prior to the deal, Man Utd had no debt. The Glaziers borrowed the money to buy the club, and then gave that debt to the club, landing Man Utd something like half a BILLION pounds in debt, with massive interest payments and so on

In my mind thats just crazy. The Glaziers own UTD, bought with money they dont have, and can walk away, leaving the debt behind. It doesnt make sense to me, and I csan see why true fans of the club want them gone

Click to expand...

SweatyMexican said:

You’d almost be mistaken for thinking their stadium is getting sold to developers, or their club is going out of business or something.

Must be hard not finishing amongst the top 4 best teams in England. Feel sorry for them.

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BBassic said:

I find this interesting. If we continue to be successful, relatively speaking, it won't be long before we have a generation of fans so far removed from the Goldstone / Gillingham / Withdean years that their sense of perspective, of success, will have shifted from the sense of perspective we have now.

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BBassic said:

I find this interesting. If we continue to be successful, relatively speaking, it won't be long before we have a generation of fans so far removed from the Goldstone / Gillingham / Withdean years that their sense of perspective, of success, will have shifted from the sense of perspective we have now.

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SweatyMexican said:

[tweet]1557097603246051336[/tweet]

You’d almost be mistaken for thinking their stadium is getting sold to developers, or their club is going out of business or something.

Must be hard not finishing amongst the top 4 best teams in England. Feel sorry for them.

Click to expand...

SweatyMexican said:

[tweet]1557097603246051336[/tweet]

You’d almost be mistaken for thinking their stadium is getting sold to developers, or their club is going out of business or something.

Must be hard not finishing amongst the top 4 best teams in England. Feel sorry for them.

Click to expand...

Stato said:

Incredible what a couple of bad results against a team like Brighton can do...

Whilst appreciating that your club becoming a commodity is a horrible thing for football supporters to deal with, its easy to forget that sharks like the Glazers are just the inevitible result of the actions taken by previous Man Utd owners to make as much money as they possibly could out of owning a football club. The feted Edwards family who appointed Busby and Ferguson were the ones to float the club on the stock exchange. Tom Bower's 'Broken Dreams' describes how they:

"...had spent between £31,000 and £41,000 to purchase 54% of Manchester United's shares, and approximately £500,000 for a further 20%. After the floatation in 1991, the club was valued at £429 million. Martin Edwards earned £33 million on the shares he sold and he still retained a 15% stake."

With that kind of blood in the water, the sharks weren't going to take long to arrive. For the fans it's a difficult balance to rage against the ravages of venture capitalism, whilst celebrating the decades of success that were founded completely on capitalism red in tooth and claw. From outside its tempting to paraphrase Cloughie 'Throw all your medals in the bin because you've never won anything fairly; you've done it through selling yourselves to capitalists,' or to nick the punchline of an old joke: We already know what you are, we're just haggling about the price...

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SweatyMexican said:

[tweet]1557097603246051336[/tweet]

.

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Curious Orange said:

They bought the club with a mortgage on Old Trafford, an asset they didn't own until the deal had been completed. I can't fathom how that could be legal, but there you go.

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nickbrighton said:

while I have no real sympathy for the entitled pricks of Manchester (Blue or Red) my understanding of how the Glazers bought the club is that prior to the deal, Man Utd had no debt. The Glazers borrowed the money to buy the club, and then gave that debt to the club, landing Man Utd something like half a BILLION pounds in debt, with massive interest payments and so on

In my mind thats just crazy. The Glazers own UTD, bought with money they dont have, and can walk away, leaving the debt behind. It doesnt make sense to me, and I csan see why true fans of the club want them gone

Click to expand...

Curious Orange said:

They bought the club with a mortgage on Old Trafford, an asset they didn't own until the deal had been completed. I can't fathom how that could be legal, but there you go.

Click to expand...