Glazer’s to take £130M out of United next year
The Glazer family could siphon off another £130million next year if enough people sign up for the bonds they’re been trying to sell this week.
Hidden in the small print of the prospectus they published is the fact that they could take £70million from the club that was raised through player sales.
The Glazer’s have also reserved the right to take £25million out of the club in the form of a dividend, plus half of the “consolidated net income”, aka cash profits which amounted to £23 last year.
Furthermore, they will pay out £6million per year for “administration and management services” to companies they THEY own. ON top of that they’ll pay £3million to directors who look after their shares in Manchester United.
That’s a total of £127million that could be taken out of the club next year alone.
If that wasn’t bad enough, this doesn’t even include the annual interest payment on the massive debts, which is around £40million.
Unsurprisingly the Glazer family have declined to comment.
Nick Towle of MUST had the following to say:
“It is a shocking picture. These are immense amounts of money being leaked out of United to pay banks, lawyers, the Glazers themselves and interest, to pay for a takeover none of the supporters, or the United board itself, wanted.
“United’s success and profits could have been used to keep ticket prices affordable or invest in the team but instead we see this heartbreaking waste, just because one family ultimately hopes to make a profit from the club.”
Short URL: http://www.strettyender.com/?p=1122
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The time has come to see the true colours of certain people and find out exactly where they stand and how important Manchester United is to them. The people I am talking about are the likes of David Gill, Sir Bobby Charlton, Sir Alex Ferguson, Paddy Crerand, Ryan Giggs and Gary Neville.
Gill felt he better served the cause of the club from the inside 4 years ago…it is now blatantly clear that any good that has come from him being there has been far outweighed by the maouverings of the Glazers….Sir Bobby should be disgusted that the club he nearly died for is being treated like this. He has nothing to prove to United, has given more than most already, but would elevate himself to un-heralded levels if he were to come out against the current ownership module. Privately Fergie must be fuming that he Yanks are pulling out cash and the banks are taking interest payments on HIS transfer budget…He was vocal about the PLC preventing him spending….Lets hear the voice now…As for Giggsy and Nev…They are coming to the end of their careers, we have seen Neville kiss the badge and he is an undoubted Red, once last test for you Gary, your top flight career is over…you need to be vocal and strong and get behind the “Glazer Out ” campaign and gather support from the ex players…..That is the fastest way for the owners position to become un-tenable and force a sale….
The figures do no lie gentlemen. The club that you made famous, the club that made you famous, the club that has captured the hearts of millions world wide is being raped and pilaged by the current owners…..All those mentioned are millionaires (maybe not Paddy) many times over and can afford to make a stand for what (I hope) they believe in. Make Sir Matt, Duncan and George etc & the millions of fans worldwide proud.
Do what is right and do it now.
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I have been a Man.U. supporter for over 40 years and I cannot remember any worst times
than the ones we are in at the moment. We have cried a lot especially when we got relageted but even through the hard times we never douthed that this great club would not only survive but will be great again. Moreover we were never in douth that the people that were running the club were doing so in order to fill their pockets. The Glazers are american buisness men who only came to buy the club to bloster their own pockets ONLY.
Please get out before millions like me turn anti american for the way you are treating Man.U. You have found a fat cow and have been draining it skin deep, is it ready for the slaughter? GET OUT NOW
Sir Alex Sir Bobby we have every faith in you speak out with your hearth for the club that you love and you will find all of us behind you. This is the time for everyone to give a helping hand but not to the Glaziers but to the Club.
I feel so bad about the situation of the club now. I live in Africa.Ghana.Been following United for the past 10 yrs, and the club is a very popular one here despite Essien’s influence at chelsea. Every one here is gutted at the glazers(yes, small g).I hope the fans refuse to attend about 3 home game and threaten to continue till the Glazers are out. This i think will see them off
I said it elsewhere and I’ll say it again. It’s one thing to ask high profile figures like Sir Bobby Charlton, Sir Alex, and so on to make a stand, but the bottom line is that the only ones who can really effect the change are the fans themselves – en masse. If you really care about what is happening at United, then force the Glazers out by biting the bullet and STOP ATTENDING HOME MATCHES. The Glazers survive in part on a diet of gate receipts and merchandising, and the longer United fans keep shelling out their hard earned the more they’ll keep funding the Glazers long and painful rape of United. A half empty stadium, home game after home game, would do wonders to send them the message to get lost. Sure it might hurt Sir Alex and the team as well in the short term, but in the long term it would hasten the Glazer’s departure and hopefully bring in new owners with the kind of deep pockets that could buy the club outright, instead of foisting huge debts onto what was once one of the wealthiest and most profitable clubs in Europe. And they could buy it cheap, relatively speaking, by fans turning it into a desperate firesale through their absence and the resulting depleted financial resources. Fan sites and groups like MUST are the ones who need to lead this charge against the Glazers – people power is the only thing that’s going to change this.
I WONT BE ATTENDING ANY MORE GAMES UNTIL THE GLAZERS PACK THERE BAGS FOR GOOD!!
I WILL STAY TRUE TO UNITED FROM HOME,I WILL CANCEL MUTV & I WILL BUY NO MORE UNITED PRODUCTS FROM NOW ON BECAUSE I REFUSE TO PUT ANY MORE OF MY HARD EARNED CASH IN THERE POCKETS!!
MY BLOOD IS RED AND ALWAYS WILL BE SO I WILL FIGHT TO THE VERY END!!
WE NEED TO SEND OUT A STATEMENT . TO THEM YANKS .
BOYCOTTING A GAME AT HOME . I NOW ITS ALOT TO DO BUT IF YOUR LIKE ME AN THE PAIN OF READING ABOUT WHATS GOING ON WE ALL NEED TO DO WHAT CELTIC DID AND PROTESTED AGAINST THE OWNERS. I HAVE RED BLOOD RUNNING TRUE ME AN I ALWAYS WILL HAVE TILL I DIE I LOVE MAN UTD.. WE CAN ALL SEE FOR OUR OWN EYES THAT THE TEAM IS VERY LIGHT,,WHY IS IT LIGHT WHY HAVE WE NO MONEY TO SPEND IF WE ARE 1 OF THE RICHIS CLUBS IN THE WORLD WERE IS THE MONEY FOR NEW PLAYERS….. WE ALL NOW KNOW THAT WE DIDNT HAV THE MONEY TO BUY TEVEZ… SO WE MOST OF NEVER HAD MONEY FOR THE FRENCH LAD EITHER. THIS TEAM WE ARE LOOKING AT IS MISSING SOMETHING SO BAD AN IF WE KEEP THE OWNERS NOW .. IM AM TELLING ALL OF YOUS THAT WE ARE GOING TO BE A MID TABLE TEAM.. WE NEED TO TAKE ACTION LETS HEAR YOUR VOICE AT THE HULL MATCH PLEASE.. (WE HATE YANKS) WE LOVE UTD WE HATE YANKS WE GOT NOTHING BUT LOVE FOR MAN UTD… ITS NOT GOING TO BE EASY TO GET THE YANKS OUT BUT PEOPLE IF YOU LOVE MAN UTD YOU WILL HELP GET RID OF THEM. BOYCOTT GAMES.. IF NOT SHOUT AS LOUD AS YOU CAN FOR AS LONG AS YOU CAN.. PLEASE HELP THE MAN UTD COZ
I am from India and am following MANUTD for the past 5 years and for the first time I am fearing for them.I am scared and I am dissapointed .The dissapointment of India getting out of the cricket world cup 2007 at the first round is nothing as compared to the plight of my favourite club.I haven’t cheered for my country like I did for MANU please GLAZERS leave our favourite club before it’s too late plzzzzzzz.A humble request