Monday, 7 June 2010

Man Utd Debt

Manchester United's owners are £1.1bn in debt - £400m more than previously known - after borrowing extensively against their shopping mall business.

BBC Panorama has found evidence that the Glazer family's debt levels may threaten their hold on the club.

What's Panorama doing being involved in a private business matter? I mean, if the Glazers go titsup, someone else will buy Man Utd at some sort of price.

City analyst Andy Green, 37, is the disgruntled Manchester United supporter who first uncovered the extent of the Glazers' debts.

Mr Green said: "They borrowed more money at inflated valuations right at the top of the cycle.

"These are people who tell us not to worry about Manchester United debt because they are great businessmen. In their core business in the US they got it absolutely wrong."

So what? Just take your support elsewhere. That's what you do with computers, tins of beans and movies, isn't it? Kevin Costner made a bunch of stinkers and everyone stopped going to see Kevin Costner movies for a while.

If you don't own a share in Manchester United, what do you care? This isn't like the works team where you know the players and support them out of camaraderie. You're supporting a PLC owned by Americans, living somewhere other than where you live, with a manager north of the border and players from at least 3 continents. You don't have a personal connection to Manchester United any more than you do to Dell or Tesco.

If they quit entertaining you at a price you like then go and spend your money elsewhere.

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