A lot of reports around that the Glazers American property business is on the rocks......
Plus they have done all kinds of sneaky financial shenanigans with Man U that could bit them in the a55?
@Foxx - I have heard of U.S. property owners laundering drug money. I am not insinuating anything, but I would not put anything past the Glazers.
mr. x
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The Glazers also own the Tampa Bay Buccaneers of the National Football League and I have heard nothing of the sort about his ownership or finances being unstable. He has sold alot of the older more expensive players on the team in the last few years, but that's how the American game is, every team does it in 5-10 year cycles
Ranger4402
The last I read they were making massive payments on the debt and not disclosing where the money was coming from to pay that debt. I guess they got President Obama to print them some new $100's from the U.S. Mint.
I am an American and I don't think Americans should own Euro football teams because Americans don't understand enough about how to run a Euro football team and don't understand the business history behind the teams. It is a totally different system in Europe for sports ownership. U.S. methods or running a team don't translate well. Here is one example:
In America, sports teams owners have multiple businesses enterprises running. The sports team is one element of the overall business empire. As long as the overall business empire makes its profit goals, then all is well. As long as the sports team makes its profit goals then all is well. Or is it?
If the sports teams makes money but it is non competitive in the field of play then the team owner doesn't care. The owner will allow one crappy team after another year in and year out as long as it makes money. Foolish fans continue to fork over massive amounts of money for season tickets and the stands stay filled or nearly filled.
Because American sports leagues do not have promotion/relegation the team owner doesn't have to worry about getting relegated to a lower tier assuming there is a lower tier to relegate too.
So you get the following:
Pittsburgh Pirates - Major League Baseball - no winning season since 1992!!!!
Golden State Warrior - National Basketball Association - no title since 1974!
Los Angeles Clippers - Nat. Basketball Association - that team has never ever in its history made a serious run for a division title let alone a championship.
I think Euro football fans are different. THey love their teams and love them much. But they won't tolerate bad management and teams that can't beat their way out of a wet paper sack.
Skywolf
Now, don't quote me on this, but the Glazers are due to pay off the £220m PIK notes next Monday but haven't yet disclosed where they've got these funds from.
Now either a friend of theirs was prepared to give them this money or they've got the money another way, and if it's what i'm thinking it could send the Utd fans over the edge.
I reckon he's sold Old Trafford.
Why? Well, Glazer's Freehold Property is valued at £250m. That includes Carrington training ground, something called the Cliff and Old Trafford. Now unless Old Trafford is only worth £30m (unlikely) then i believe he's sold it or leased it in order to raise the £220m.
Other possibilties - Sold the Tampa Bay Buccaneers
- taken out ANOTHER loan
- set up a subsidary company to "purchase" Old Trafford and is forcing Man Utd to pay "rent" to this company he owns.
Either way, he's sold something, otherwise if he's had this money all along then what kind of person willingly loses £175m in interest payments?
parkhead (bhoy)
Thats a gd thing for man united fans maybe now they might sell up to the red knights
Anonymous
No I'm sure them clever J=ws will figure out a way to make more money again. If anything its business and money making they are good at.