Dear Malcolm. Season’s Greetings.
You probably didn’t expect a New Year letter from me. After all, I can’t pretend that I’m your biggest fan. But it is the season of goodwill, so let us both put the past behind us and look forward to United’s future.
The Times article today shows that the Glazers’ debt - based on the family’s own leaked projections -will actually INCREASE from £656million now to £733million in 2012. Supporters will of course be forced to bear the brunt of this through further price rises that, at minimum, are expected to increase our out-of-pocket costs by more than one third. → continue reading
It was fitting that for their first match of the season at Old Trafford, Joel and Bryan Glazer chose to attend United’s absorbing struggle with Chelsea.
This statement relates to the Glazer family’s failure to act on or respond to a letter from Richard Caborn, Tony Blair’s Minister for Sport, requesting them to meet with Manchester United fans’ organisations. It is issued in response to comments made last week by a spokesman for the Glazer family following the resignation of two directors of the club.
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The Glazer family have hit back at continued criticism of their ownership of Manchester United by some sections of the Red Devils support. → continue reading
The last traces of the pre-Glazer era at Old Trafford were eroded significantly today when Manchester United’s finance director Nick Humby and commercial director Andy Anson resigned. → continue reading
The transfer window has closed and United has bought only one new player - Michael Carrick at £18.6m. United fans are rightly asking - where are the ‘two world-class midfielders’ that Gill promised before the World Cup started? Why have we not replaced Ruud? → continue reading
Manchester United have defended their £660 million debt refinancing package even though it has increased the amount of money borrowed against the club’s assets and will mean no extra money for players. → continue reading
Sir Alex Ferguson can enter the transfer market with increased optimism after Manchester United confirmed a refinancing package which slashes their annual interest payments by almost 30 per cent. → continue reading
Manchester United have finalised a 660 million pound ($1.2 billion) debt restructuring to cut their annual interest bill, Tuesday’s Financial Times said. → continue reading
United debt set to more than double to £575m. Interest rate bill set to almost double to £42m p.a. Glazers shift their personal debt onto United, as they can’t afford to pay it themselves Stakes raised in Glazer debt gamble, banks to take tighter grip on Old Trafford
Later today, the World Cup will begin and set in motion what many hope will be a month-long national hypnosis.
May 12 marks the first anniversary of United’s strange experiment with football’s version of ‘voodoo economics.’On this day in 2005, reclusive billionaire Malcolm Glazer, one of the 300 richest men in America, gained a dominant position at United by buying the 28% of shares owned by J.P McManus and John Magnier. Within weeks, the tycoon was able to acquire the 75% controlling stake in the club that made his position unassailable. → continue reading
