Yeah need to be paying off more debt..
Glazer Statement
- Thread starter ivaldo
- Start date
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In the latest episode of the United Hour Podcast, Nik (@Rood) is joined by CEO Duncan Drasdo and Financial Director Andy Green from the Manchester United Supporters Trust for a special episode on all things behind the scenes at Old Trafford including a brief history of MUST and their aims today, views on INEOS and Sir Jim Ratcliffe so far, and the Old Trafford regeneration.
Even if they could get the funds, they have no intention of doing so. They have spent fifteen years paying huge interest on loans taken out in the club's name. They are not going to change that now. They want to own the club without using their own money. Their model is parasitical.
I know people hate Goldbridge but his points in this are spot on.
If we pretend for a minute that the Glazers do care and they do believe they have invested properly in this club then priority number one is getting a football based CEO and team etc.
The Glazers allowed Woodward and Judge and Arnold to throw money away for 8 years now. It's criminal ownership.
So basically if they want to show they care
1. Revamp who runs the club. Get VDS or a CEO at another successful club.
2. Let go all of Woodwards College and JP Morgan buddies.
3. Start clearing the debt once and for all.
4. Back Ole properly this summer.
5. Starting renovating the stadium.
6. Suspend dividends atleast until we are successful again.
If they aren't doing around 4 of the things mentioned then the letter is is only a lie.
We spend more on dividends each year than debt don’t we? Plus I think they all give themselves annual consultancy salaries.
Am really not sure what people expected?
Yes, these are just words – actions are what matter. But they have outlined what they will commit to do. If they fail to do so, then they should expect more protests.
But it is mindless to protest towards them taking notice, and then choosing to ignore any response from them because they see it as 'pure PR guff', whilst patting themselves on the back for seeing through it.
I am still yet to see a realistic proposal of who could replace them. People seem to want someone who is prepared to spend £4b of their own money and then not take a penny from the club.
For those who proudly state that they would be happy to see us relegated if it meant seeing the back of the Glazers, I have a few issues with this. Firstly, I do not see how boycotting sponsors because we do not like our owners would make us an attractive proposition for any future potential sponsor. People say that sponsors will come flocking back...but that is nothing more than a hope and a guess. Secondly, there is absolutely no certainty that the next buyer will be any better. and lastly, and absolutely not leastly, if we were to get relegated, what do people think would happen to many of the people employed by the club? People behind the scenes who have worked at Manchester United for years, decades even? I know a number of these people and it is naive to think that all these roles will be maintained if we are relegated. I know the response will be 'but we will bounce right back', but we will suffer an absolutely huge loss of income and this ill have to be met somehow.
I love United, and have done for over 30 years. But I have bigger, more real concerns in my life than who owns Manchester United Football Club. I have not been able to see my kids since August last year because of COVID. My mother was diagnosed with stage 4 cancer this year. I agree that a leveraged buy-out of the cub should not have been allowed. But we are where we are. And we are here because we went public as a company. Ever since then, we became open to investors.
And, there is no guarantee that the next investor will be someone who can afford to spend the sum required to buy us without wanting a return on their investment – whilst be happy handing off all running of the club that they own to someone else. If people know of such a person, then fantastic. But in the absence of such knowledge, I feel that this outreach from the Glazers is one that should be both met, and made clear that they will be held accountable to their words.
Yes, these are just words – actions are what matter. But they have outlined what they will commit to do. If they fail to do so, then they should expect more protests.
But it is mindless to protest towards them taking notice, and then choosing to ignore any response from them because they see it as 'pure PR guff', whilst patting themselves on the back for seeing through it.
I am still yet to see a realistic proposal of who could replace them. People seem to want someone who is prepared to spend £4b of their own money and then not take a penny from the club.
For those who proudly state that they would be happy to see us relegated if it meant seeing the back of the Glazers, I have a few issues with this. Firstly, I do not see how boycotting sponsors because we do not like our owners would make us an attractive proposition for any future potential sponsor. People say that sponsors will come flocking back...but that is nothing more than a hope and a guess. Secondly, there is absolutely no certainty that the next buyer will be any better. and lastly, and absolutely not leastly, if we were to get relegated, what do people think would happen to many of the people employed by the club? People behind the scenes who have worked at Manchester United for years, decades even? I know a number of these people and it is naive to think that all these roles will be maintained if we are relegated. I know the response will be 'but we will bounce right back', but we will suffer an absolutely huge loss of income and this ill have to be met somehow.
I love United, and have done for over 30 years. But I have bigger, more real concerns in my life than who owns Manchester United Football Club. I have not been able to see my kids since August last year because of COVID. My mother was diagnosed with stage 4 cancer this year. I agree that a leveraged buy-out of the cub should not have been allowed. But we are where we are. And we are here because we went public as a company. Ever since then, we became open to investors.
And, there is no guarantee that the next investor will be someone who can afford to spend the sum required to buy us without wanting a return on their investment – whilst be happy handing off all running of the club that they own to someone else. If people know of such a person, then fantastic. But in the absence of such knowledge, I feel that this outreach from the Glazers is one that should be both met, and made clear that they will be held accountable to their words.
All sorted then, just waiting on them announcing Sancho, Grealish and Rice.
Or will the investment be Cavani for another year, new treadmills at Carrington and a lick of paint for Old Trafford.
Or will the investment be Cavani for another year, new treadmills at Carrington and a lick of paint for Old Trafford.
I seriously wonder who really is the author of this letter ? 
It will be the P.R. company they use.I seriously wonder who really is the author of this letter ?
I'll support this if you can use your influence on the board to hire me as Phelan's replacement. I want to be Ole's new buddy traveling around and give our players a pat on the shoulder.
You are correct.
What I responded to was you saying that they couldn't do it, not that they won't do it.
Cool. Let’s forgive and forget and change our name to Doormatchester Utd.
Hmm I am not sure, the stock value would obviously increase by a significant margin if they cleared all the debt. Whether it would increase by the degree of what they would have to spend would be above my head.
If they did that it would be a huge start at least
See? They’re not so bad. Give us Americans a chance.
To me that would be a papering over the cracks. As long as the debt is their and we don't have the right CEO and people on the board the future of this club will be very rocky.
The least they can do, they’re actually in a good position with the team and squad being so good atm one marquee signing would probably even be enough..
Honestly you can't expect us to clear the debt and properly renovate Old Trafford. With the state it's in it's going to take a massive sum to renovate. Agree with most of the rest. More protests should and likely will follow if they don't back up their words with actions. A good start would be appointing a football oriented successor to Woodward.
Fantastic post
One big signing would not be enough after last summer.
Need something like Rice Sancho and Pogba staying to make any real statement of intent
They’re quite clearly not going anywhere, so this is certainly a result of sorts. At least this has captured their attention.
I for one welcome our new and improved overlords. Not serious.
I was thinking more of Kane, Haaland or Mbappe..
Thank you – I appreciate it
.
Obviously, we don't know what their financial situation is, but they have nothing like the money owners of some other clubs have. I suspect they can't buy the club from their own pockets and spend big at the same time. Anyway, they would never do it either way.
Oh then yeah probably hahah. That would probably shut people up. I wouldn't trust them one bit but it would be a good PR stunt by them.
It's actually very easy for them to end this movement imo.
Do a signing like that and VDS as CEO and protest end for atleast a year.
Just words but if they truly want to get back in the good books so to speak with the fans then they’ll have to follow through with it, only time will tell.
Give them a chance to right the wrongs & this letter (fan ownership, increased investment in first team and stadium/training ground) and maybe they can rebuild trust.
But we must give them a chance to prove it isn’t all guff.
Someone else might be worse or better it all takes time as does the above. The most immediate proof of righting the wrongs and doing what they say they’ll do is increased investment in the squad.
Give them a chance to right the wrongs & this letter (fan ownership, increased investment in first team and stadium/training ground) and maybe they can rebuild trust.
But we must give them a chance to prove it isn’t all guff.
Someone else might be worse or better it all takes time as does the above. The most immediate proof of righting the wrongs and doing what they say they’ll do is increased investment in the squad.
I could live with reasonable dividends once all those points were fixed.
Who thought that that statement was better than no statement at all? Struggling to understand how they think that will appease people and calm things down.
That's the Leicester game getting called off then.
What were you hoping for???
It wasn't.
Yes, because that helps the team.
Nice rebuttal.
I will start to listen when they say...
1) We will make the club debt free by (realistic years)
2) We will stop taking dividends until the club is debt free
3) We will ensure transfer funds are available to compete at the highest level in premier league and CL.
4) we will invest in OT and training ground
Once that’s promised we can only hope they fulfil it and if they do, a debt free United owned by the Glazers isn’t the worse thing. An eccentric billionaire with a grandiose ego who gets involved, thinking of someone like Vincent Tan at Cardiff, would be much more detrimental
1) We will make the club debt free by (realistic years)
2) We will stop taking dividends until the club is debt free
3) We will ensure transfer funds are available to compete at the highest level in premier league and CL.
4) we will invest in OT and training ground
Once that’s promised we can only hope they fulfil it and if they do, a debt free United owned by the Glazers isn’t the worse thing. An eccentric billionaire with a grandiose ego who gets involved, thinking of someone like Vincent Tan at Cardiff, would be much more detrimental
I hate to pin you down on this but it is quite an important detail.
There is no doubt that they could clear the debt if they decided to do so, you are right that they won't do so but that is why it is so important to understand that they could do if they so wished. I explained 2 ways but there are many others.
This is bigger than the team and 3pts. Jesus wept.
With your attitude of 'well they can't be stopped' Hitler would have walked all over our Army in WWII.
Grow a back bone.
This is exactly like the Nazis, you are correct.
Well I think the letter was worked OK.
I think if they invest heavily in the squad in the summer it would help.
Bring Edwin in to replace Ed.
This would be a good start,
I think if they invest heavily in the squad in the summer it would help.
Bring Edwin in to replace Ed.
This would be a good start,
They should show willing by sacrificing Avram to the Kraken... who I believe also lives in Florida now.
It's better than nothing but that's just empty talk. They've had time to come up with a commitment that might be a small step in repairing relations and this is the best they can come up with?
It's basically we'll engage superficially but we're not willing to commit to the slightest request. Any one working with upper management types knows what that means.
It's basically we'll engage superficially but we're not willing to commit to the slightest request. Any one working with upper management types knows what that means.