The reason we hate glazer is because 1)he don't give a shit about the club and he plunged the richest club in the world into millions and millions of debt -end of
I'm sure he has a plan to get us out of the debt. Now, if only he can communicate it properly to his spawn while being spoonfed cream of wheat by a nurse...
If that is true it's good news - at least a hell of a lot better than it was. If they can fold both loans into a 500 million pound loan at 6% - 30 million a year interest repayments - then that's a big improvement. Two things worry me: 1) the club will have to succeed for the next 25 years without fail (though it probably has to do that as things stand anway) 2) to convince the banks to offer such a loan they may be doing everything they can currently to bolster Utd's current financial position. That could mean no new players for the moment and explain the silence which currently roars from OT. But replacing the current horrendous loan conditions with the hedge funds at 20% interest with a more traditional 6%, 25 year mortgage is a big improvement on our present situation. If they succeed it would bring a huge sigh of relief from me. 30 million interest is probably less than what a 750 miilion pound PLC would normally pay out in dividends.
I've constantly heard ManU was one of the best managed "financially" clubs in the world before Glazer took ownership.How did ManU get into such debt,i thought they were the richest club amongst the G14.
Glazer borrowed money to finance the purchase.. Once he took control of the club he placed all the debt on the clubs books.. ********ing twat he is....
http://www.joinmust.org/thefacts/theirdebt.php The Glazer Family paid a total of £921 million to buy United.They borrowed at least £650 million* of that sum, some at 20% compound interest. The terms of the debt, which has now been shifted onto the club, means that if it is not paid off it increases to £938 million within 5 years. That means the debt is growing at more than £300,000 per day.* ******** me that makes me sad everytime i see that
I read that Guardian article about Glazer. Umm... What is the big deal? MUFC has some of the best players in the world and they won last year's FA Cup and finished second behind the ridiculous Chelski -- whose multi-billionaire financed roster is impossible to defeat. The Glazers don't seem to have hurt MUFC a bit, so why all the anger? Why are people trying to murder them because they bought MUFC? Is it only because they are American? It boggles the mind.
We won the League Cup, not the FA Cup, quite a difference there. It's maybe easier for some of us to take then others but the Glazer's are **********. Plain and simple. Here to make a profit and thats it. If United win trophies, then great, that will net them some more cash but their bottom line is always the dollar. The thought of a leeds scenario happening is very scary and very real. The debt will hang over this club until it is paid, and that could be a fairly lengthy time. I'm sure the fact that they are American has something to do with it, but I'm American and I still hate them. I'm sure NM will have something to add to this as well.
Yep we hate Americans.. Those bastards are trying to take over the world... First it was the god fearing nation of Afghanistan.. Then it was the peace loving nation of Iraq.. Next it was Manchester United.. When is it enough for you people???
Apparently.... GLAZER'S TRASH THEIR RENTAL...(from Palm Beach Post 1/24) He allegedly found the property so trashed it looked like a rock band had lived there. Only there was no band. The tenants: the NFL's Tampa Bay Buccaneers VP Joel Glazer and his model-material wife, Angela. The couple lived at the North County Road manse for just six weeks. Some of the damages, according to homeowner Guy Henderson's spokesman, include large gashes and holes drilled in floors and walls because the Glazers installed a giant safe — which they took with them when they left. It cost Henderson, who once co-owned a Wall Street firm, nearly $100,000 to fix the home and two weeks to clean it. To add insult to expense, the Glazers supposedly left without notifying anyone and haven't paid the remaining five months on the October-through-March rental. Henderson thinks they disappeared in mid-November. "Mr. Henderson still has a hard time believing the extent of the damage done in such a short period of time," said Mike Powers, Henderson's spokesman. "At first, he didn't want to rent the place out. He's upset he let himself be talked into it." Through his lawyer, Justus Reid, Henderson is now suing the Glazers in a Palm Beach County court. He wants the $300,000 back rent plus damages. Those also included: the removal and improper storage of 14 rare Oriental rugs and wall-to-wall carpeting; breaking of every window screen on the first floor; permanent opening of windows for two weeks at a time during the rainy season; removal of $30,000, 14-foot draperies and storage in cardboard boxes; drilling of holes throughout the home for DIRECTV installation; removal of landscaping; and repainting of walls in colors that didn't match. Joel Glazer didn't return calls for comment. But records show he and Angela sold their home on North Lake Way for $12.9 million at the time they moved into Henderson's place. They're now renting a more modest 4,000-square-foot house on Gulfstream Road. "It's disturbing," said that home's owner, Nancy Davis. Powers said Henderson received several complaints from Angela concerning air quality. She claimed there was mold throughout the house and dog hair in the rugs, even though Henderson spent $8,000 on sanitizing before the Glazers moved in. "She complained a lot about the Henderson dog because she spotted it while touring the house," Powers said. "But we're talking about a 6-pound Maltese named Bling-Bling, and he's hypoallergenic."