Manchester United has placed itself in its own hole, and I think the Glazers are to blame.
I just want to ask; after they bought Man Utd did they have any plot, any vision for the club. As with any person that is going to take over a club, they should have at least some vision of where they would like to take a club in the next so many years.
But as far as I am concerned, the Glazers certainly didn’t have any plot in buying Man Utd. The only thing they did was to deliberately plunge the club into debt mercilessly.
There was a lot of backlash from the fans when they arrived. And you would have thought that they would at least try and win back some of the fans.
But instead, as a first action, they borrowed 200 million from the club.
But maybe as fans we didn’t mind that much. Under their reign the club was able to break Chelsea’s strangle hold of the premier league in 2007, a seemingly impossible feet.
Add that to two more consecutive premier league titles, a Carling Cup, some community shields, a champion’s league title, and even a world club championship. And let’s not forget that they allowed Ferguson to spend highly in the transfer market. The club spent around 50 million in 2007.
We never liked them taking over the club. But at least we could see it was paying dividends. We were doing better as a club than we did without them. But we forgot, at the same time, how deep the club was getting into debt.
As a fan I am very worried for the club.
David Gill in 2006 implemented a debt re-service program to help. But even that hasn’t seemed to work.
Such is the position we are in. You’d think that for all our success over the past three years we would be in a better position. It is now hard to believe that the club can re-service a 700 million pound debt anytime soon.
I think it is this time when we are finally seeing the real problems of debt. We are out of the champions league, and look like we are about to lose the premier league title.
Usually, when a club finds itself in such a position, a solution would be to enter the transfer market. But the club is unable to do this because we find ourselves in debt.
The fact that we may not win another title this year will mean a reduction of income in the off season, so no players can be brought in. So we happen to be stuck where we are. The Glazers have plunged us in a hole, and it will be very hard for us to get out of it. 700 million is a lot to cover.
I am not just blaming the Glazers here, I am also blaming David Gill. I feel he should have tried to at least stop the Glazers. I don’t care whether he had no choice. If he had the club in his heart, I think he would have at least tried to prevent all this. If he didn’t then he is just another Glazer.
And we have seen the implications of going to large debt and the implications it has had on other clubs in the past. Look at Leeds in league one, a club that was once in a champions league semi final. Forced to sell their best players has even been faced in selling their stadium.
When people hear Man Utd, they think of success. We are the epitome of greatness. The thought of selling Wayne Rooney should never occur to us. We shouldn’t be trying to sell Old Trafford or even contemplating league one. That is not Man Utd.
Our resentment is felt even more when Man City, our neighbors are billionaires able to spend at their own will. Something that we used to be able to do. We used to be the richest club in the world! That’s how far we’ve come.
I wonder whether the Glazers have seen the fans in the colors of Newton Heath, or seen the markings all over Old Trafford calling for their departure. Hopefully this can convince them to change.
I don’t think transferring the club to new owners is the best option just now. The Glazers are a very rich family, they are billionaires. Since they have made such a grand mistake it should be up to them to avenge it. David Gill shouldn’t be looking to sell bonds.
It is up to them to fix this problem before it is too late!