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[17] 700m out, successful before 2005, yet the financial analyst trots out the usual - and suggests the Glazers stumped up cash!

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  • [17] 700m out, successful before 2005, yet the financial analyst trots out the usual - and suggests the Glazers stumped up cash!

    Financial analyst David Buik


    "However unpopular Malcolm Glazer may have been, and the fans weren't particularly enamoured of him, but he has a great share in the team's success. He stumped up the money that was required to make that quantum leap forward, and that, no matter whether you agree with how the club was run or not, can never be taken away from him. It won't affect the day-to-day running of the club at all. It's in better shape now than at the time of the purchase. It was £700m in debt then and now it's £385m. The business interests of the sons in Tampa are considerable and also have debts so it is utterly important that Manchester United generates income. They removed David Moyes because he wasn't delivering and the club were going to be £50m light in terms of their income. There is no emotion in my humble opinion. The Glazer brothers love their sport but this is a business. Indirectly, the banks actually own Manchester United because if these debts are not serviced then there will be recourse. I’m not suggesting there are problems because everything seems okay but you wouldn't want income to drop any further."
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