What were the supporters' reactions when Man Utd became a PLC?

Discussion in 'Manchester United' started by xfactor857, Oct 22, 2004.

  1. xfactor857

    xfactor857 Member

    Sep 21, 2003
    It seems that being a PLC is one defense against crazy or bad owners, so did the fans actively lobby for the status?
  2. jddphd

    jddphd New Member

    Oct 22, 2004
    Manchester United FC
    Good good question.

    Actually the decision to become a plc was HUGELY unpopular because it was thought to be the final nail in the coffin of commercialization. The immediate history behind it was a failed attempt by the Edwards family to sell out to Michael Knighton who turned out to have a shady financing scheme for it.

    Read from the Manchester Evening News here:

    The interesting and not just a little ironic part about this is that our best shot at stopping Glazer right now is due to the fact that the club IS a plc. Because regardless of what people felt about the decision then, the fact is that this structure allows supporters to own shares. And as everyone knows this is a battle about ownership.
  3. Sinter

    Sinter New Member

    Oct 12, 2003
    New York City, U.S.A
    New York Red Bulls
    Nat'l Team:
    United States
    btw Glazer just upped his stakes again to 28.11%... inching closer to 30
  4. Acronym

    Acronym BigSoccer Yellow Card

    Nov 26, 2003
    Ol' blighty
    Problem is with the PLC is answering to the city.
  5. Mac_Howard

    Mac_Howard New Member

    Mar 5, 2002
    Mandurah, Perth, WA
    Utd are worth too much to be owned by a traditional owner who runs the club for the reflected glory and not for financial gain. There are not many people who can afford to tie up 800 million pounds without taking a financial return from it. Becoming a plc was a recognition that Utd had moved into another financial category than they had inhabited before. Fans would have preferred to see the club remain with a private owner but it was becoming impractical.

    Being a plc is far from being the perfect situation - the owners are shareholders who expect a return on their investment and some of the profits that a club generates will be lost in dividends. But it does bring a demand for responsible financial dealings which is not always the case with private owners.

    It's a double-edged sword.

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