Malcolme Glazer/Manchester United - please explain...

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...why this is such a bad thing?

I am aware that I know very little about football - but are the fans up in arms simply because he is American?

I hear stuff on the news about the 'debt' he will bring to the club, yet I thought he was one of the richest men in the USA. So why would MUFC be in debt if he had a controlling share?

Can someone explain to me (with BBC 'like' impartiality) why this is causing a kaffufle in these parts. Is it simple xenophobia/nationalism/jingoism?

Thanks! :wink:

Quote:

LONDON (Reuters) - U.S. billionaire Malcolm Glazer came within a whisker of gaining full control of Manchester United on Friday, raising his stake to 74.81 percent and laying out details of his 790 million pound bid.

A source close to the Glazers said they would hit the key 75 percent threshold on Monday, after which Glazer will have full control of the 127-year-old club and delist Manchester United shares from the stock market.

The U.S. tycoon, owner of the Tampa Bay Buccaneers American football team, started the day owning just over 70 percent of the soccer club nicknamed the Red Devils but his advisers moved quickly, snapping up shares by striking deals with other investors.

His move brings to an end a bitter, two-year takeover battle and sparked the fury of thousands of United fans who have ferociously rejected the American's advances.

"We will do everything we can to get rid of him," Sean Bones, vice-chairman of Shareholders United, said, as he urged fellow supporters to boycott United matches and merchandise.

But analysts said there was little they could do.

"I think it's game over," said Richard Hunter, head of UK equities at private client stockbroker Hargreaves Lansdown in London. "I'm sure he'll be sailing past 75 percent very shortly," he added.

Under the takeover terms, Glazer will offer to buy the shares in United that he does not already own for 300 pence a share.

"We are delighted to make this offer to acquire one of the pre-eminent football clubs in the world. We are long-term sports investors and avid Manchester United fans," Joel Glazer, a son of Malcolm Glazer and a leading player in the acquisition, said in a statement.

The Glazers also detailed their financing plans, confirming that 265 million pounds of debt will be piled onto United's books and that the club will be taken private as soon as possible.

"Our intention is to work with the current management, players and fans to ensure Manchester United continues to develop and achieve even greater success," Glazer added.

The board of Manchester United, which had said it could not recommend Glazer's bid, said it noted the Glazers' announcement, which was made through their acquisition vehicle, Red Football.

"During recent discussions with Red the board sought a range of protections for the football club, its fans and any minority shareholders who wish to remain invested in Manchester United," it said, adding that it would advise shareholders what to do once the full offer details were available.

SEIZED CONTROL

The Glazers seized control of United on Thursday by buying a 28.7 percent stake from the club's biggest shareholder, Cubic, an investment vehicle for Irish racehorse magnates John Magnier and J.P. McManus.

That elevated their stake to 56.9 percent and, under UK takeover rules, kicked off a mandatory offer for the remaining shares.

But furious fans have vowed to fight on, saying Glazer has no knowledge of football and plans to cream the profits off the club to pay back the debts used to buy it.

In a statement on the Shareholders United fan site, members urged fans to buy as many shares as possible in a bid to cut off Glazer in his tracks.

The fans say they own about 18 percent among them, but analysts put the figure somewhere between 10 and 15 percent.

"The only opposition he seems to be getting at the moment is the very high-profile fan base, but they've certainly got nothing like the 25 percent they need," Hargreaves Lansdown's Hunter said.

A one hundred strong gang of Manchester United supporters stormed a party hosted by JP Morgan late on Thursday in protest at the U.S. bank's support for Glazer's takeover. No one was hurt.

Manchester United manager Alex Ferguson cancelled a scheduled news conference for the club's final league match of the season against Southampton. Ferguson, manager since 1986, has yet to comment officially on Glazer's successful takeover.

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Could be a Mancunian thing. Chelsea is owned by a Russian and as far as I know they didn't burn the stadium down at Stamford Bridge (do they still call it that or have they sold the name?). Or it could be that they know that he's stretched himself and will eventually ruin the club through trying to service the massive debt. Or it could be that as ticket prices have just gone up they fear that they'll go up again as he seeks to make money and service that huge debt.

It could also be that Mancunians are clever buggers too and they have worked all the aforesaid out and aren't at all happy. I doubt if it's got anything to do with him being an American. I would think they'd be more upset if a Londoner bought the club Very Happy

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Glazer (and/or his family) know nothing about the club or football.

The main reason, I suppose, is however, that footbal in England (the UK) is dying more and more and soccer will take it's place.

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Thanks you two, I have also heard that there is going to be a European Super League now - is this true?

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Walter Hinteler wrote:

Glazer (and/or his family) know nothing about the club or football.

The main reason, I suppose, is however, that footbal in England (the UK) is dying more and more and soccer will take it's place.

Err, Walter, I'm not sure I get your meaning.

"Soccer" is the North American word for what the rest of the world calls football. The term came into use to distinguish it from the American and Canadian style, which is a different game entirely. Manchester United is a football, (or soccer), team-it can't be replaced by soccer.

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Well, Manchester United is (still) a FOOTBALL team, but some fear, it might become a SOCCER team (and therfore supporters want(ed) to found the "FC United" recently.

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Walter, either you don't understand or we are having a breakdown of communications.

Manchester United already IS a soccer team. It has always been a soccer team, by North American standards.

What we call soccer over here, you call football over there.

So when you post that football is dying in England, and that soccer might take it's place, you make little sense. European style football cannot be replaced by soccer, because European style football IS soccer.

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I'm a BIG Juventus fan and i know quite alot about football, the reason Manchester United fans and others are say that this is bad is because Malcolm Glazer is going to put millions and millions and millions into thee club which isn't fair on other teams like: Arsenal, Liverpool, Everton. BUT on the other hand this also can be a good thing because Roman Abramovic's money from Russia was put into Chelsea and know Jose Mourinho bought aload of very good players with the money and won the Premiership, (but not the champions league, hahahaha Laughing

) anyway, Malcolm Glazer won the NFL Super-bowl and thought that that wasn't enough so he wanted to buy a football team, Manchester United seemed like a possible team to buy so he put a HUGE bid for the club and the board had no option but not accept, BUT the biggest factor in this is that people are predicting that football is going to be ruined and it'll never be able to pick it self up and start again, that is why everyone hates Malcolm Glazer so much and also Roman Abramovic as well. hope it was too boring to read all the way through, lol!

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The reason the Glazer family are so unpopular as owners is that they see an opportunity to squeeze money out of MUFC for themselves and their financial backers.

Buying a football club isnt like buying a grocery store. You not only buy the assets, you buy the customer base too. If you try to make more money by doubling the price of your groceries, then people shop else where. Loyal fans of MUFC (and I have always supported United) are not, mainly, going to desert and support Arsenal or Liverpool. Also Glazer sees untapped value in the MUFC brand in the far east and China.

But what is really astounding is that he has bought the club mainly with borrowed money, then made the club itself liable to repay the debt. So it will have to start producing a huge revenue stream to service the debt. Financially if it goes down, then MUFC not Glazer suffers most. And if MUFC continue to prosper, Glazer gets a nice cut.

As I said he is forcing money out of the captive customer base to satisfy himself and financiers. It stinks and despite being born in Manchester, lived through good and bad with the club, as far as I am concerned I hope Utd go bust.

And if you want to get really controversial, its not anti Americanism, if anything its anti semitism, because the Glazers and Rothschilds bankers are of course Jewish. (but I never said that)

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I think you are tapping into a vein here Steve, that as unpleasant as it may appear, the Glazers DO come across as a stereotypical "wheeler dealer" Jewish family of tycoons, who HAVE to a certain extent, proved the stereotype with the sort of deal that they have set up in order to buy Man United.
Racism SHOULDNT come into this situation, but we are talking about the real world here, and I believe that it could play a part in the reason for the fans rebellion.
Dont forget, we had a very similar scenario with Robert Maxwell and his family when they ended up ripping off thousands of Mirror workers (big Daily Newspaper in UK), by basically stealing their pension fund. I believe the Maxwells did the same with their employees in America.
The Glazers seem to have an almost identical public persona.

This Glazer deal has been secured by dodgy means, sails VERY close to the wind, and puts the future success, and possibly existence (as we know it) of the Club in great peril. At VERY little risk to the Glazers.
It is plainly obvious that they see Man U as nothing more than a possible opportunity to make money. If it goes bust, they wouldnt give a sh*t.
THAT is what is upsetting the fans.
Grassroots football is all about community, all pulling together and supporting one's chosen team through thick and thin.
The Glazers dont have a clue as to what they are getting into.

Abramovich and Chelsea was a totally different type of "buy out", as he has immense wealth, purchased the Club for cash and has injected a massive amount of money into the Club, in order to improve the squad and its eventual success.
There is no debt risk with Abramovich, and he has made every effort to mix with the team, the staff and the fans, to demonstrate his commitment to the Club, and his affection for it. He has succeeded in bonding with the fans.
If HE had gained power in the same way as the Glazers, ie by putting the Club in financial peril, the Chelsea fans would be up in arms as well.

Even though I am a born and bred Arsenal fan, I sincerely hope that Man U come through this, and their imminent crash, without too much damage, and hope that the fans (or a tycoon with REAL passion for the game) buy the club at some stage in the future.

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thanks lordee

for an arsenal fan you make sense (ok only joking calm down)

My team was Charlton Best Law Crerand Stiles Stepney Foulkes....

I was there when Law back heeled the ball into the scoreboard end to put Utd donw intothe second division. City fan ran on thepitch at the end to put a scarf round him, he threw it on the pitch.

I remember my father being very upset by Munich aircrash 1958.

I remember 1968
I remember 1993 when my father died and Utd won the championship
I remember 1999 against Bayern Munich

And now i dont give a fukk for Glazer's money making machine.

sad, truly sad, but true

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and i remember the last time i went to old trafford with my father

we were in the stretford end...we couldnt get usual seats

father was telling me the first time he went was about 1934 and stood only about 10 yards away from where we where. I paid no attention. He died 9 months later. Afterwards i remembered what he said.

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I remember that Denis Law goal....he went on to say it was the lowest point of his career.

My family originated from the area where the old Arsenal ground was (Woolwich), before they moved North of the River.
My Grandad went to see Arsenal (I'm sure I've mentioned this recently, but...what the F***, I'll mention it again).....when they had seven or eight England internationals in the team, and all the fans chanted "England" at Arsenals home matches.

My highlight was the double in 1971....McKlintoch, Kennedy, Armstrong, Graham, Storey, Charlie George etc.....

They are mainly French players now, but still get my heart racing.

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thought you 'ad a particular angle on les Francais..

I think arsenal play some fantastic football, and Wenger is the best manager in the game for my money but for some reason Arsenal have never been a glamour club.

Whats in a name eh?

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Speaking about names: I've heard, they changed their name, because they got free beer at The Arsenal Tavern, and square dialling was so difficult.

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To be honest, as long as a good "end to end" nailbiting match is played, I dont really mind too much who wins.

Wenger, when he was first announced as the new Manager, was unknown over here. I phoned my brother in France, to ask him what sort of guy we were getting, and he said the same as you.....he was the best Manager around, even then.

I think his secret is that he is a great psychologist. He sorted out a drunken Tony Adams almost straight away, who went on to oversee possibly the best "back four" that has ever played together in England.

I think the smart money will now go on Chelsea for future honours though.

Like I say.....as long as I can watch a good game........

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Malcolm Glazer and Manchester United
I'm amazed to hear how ill-informed some people still are about why we oppose the Glazer's take over at Manchester United. It's not just a Mancunian thing. It's not because he's American; his Jewishness has nothing to do with it. Manchester is a cosmopolitan city and we are proud of the mix of people.

First of all it's because his prime purpose in buying United is to make money for himself. The club's success, while important, is secondary to him making money. He has first call on the money the fans put into the club.

No one - except him - can se how his business plan can properly work. This is from professors at business schools.

I can see what's in it for the Glazers - they cannot lose. If United do well, the Glazers pocket the profits, while the fans work top pay off the debts the Glazers ran up when borrowing the money to buy the Club. Any excess money the fans raise after that goes into the Glazers' pockets. If it all crumbles and the Club go bust, the Glazers bail out, none the worse. And the fans continue to pay of the debts the Glazers ran up.

Does that make sense to anyone but a Glazer?

Many of us have been fed up with the over-commercialisation at Old Trafford for a long time - since Martin Edwards first put the Club on the stock exchange and made a vast profit for himself. The Glazers are the last straw.

Secondly, football clubs should belong to the fans, not to individuals or their families as playthings. They are a community resource and should not be used to make money. If FC Barcelona can be owned and run by its fans, so can every other club. Too many clubs and their fans have been screwed by unscrupulous or incompetent businessmen. It's time to stand up against it.

Polly

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Thanks polly good post.

agree completely

you remember that clown Knighton? i think his name was?

The Glazer family take over is great for all members of the Glazer family, and no one else.

They have spotted an opportunity to further enrich themselves at little or no risk.

Just how this has been allowed to happen is beyond me, except that its all perfectly legal. Who made the original decision to float Man Utd plc?

Manchester is a great city, it can survive without Manchester united. I'm beginning to hope it will do just that.

Welcome to a2k btw.

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FC United, the breakaway team set up by Manchester United fans angry at the club takeover by US tycoon Malcolm Glazer, has played its first match Division Two of the North West Counties League today:

Leek CSOB 2-5 FC United (halftime 2:2)
Fletcher 14 Johnson 33
Spence 20, 72 Torpey 30, 80 - Orr 90

Attendance: 2590 !!!

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Malcolme Glazer/Manchester United - please explain...

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