re: The Glazers really don’t care, update . Joel kinda responds to the fans

The preponderance of major leagues in NA and Western Europe use “franchise” instead of “club” which is why I used that nomenclature in my post.

And I agree with TheOG - Utd has been in no way limited by the two-time Super Bowl Champion Glazer family.

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Western Europe use “franchise”

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Are you retarded ?

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And I agree with TheOG - Utd has been in no way limited by the two-time Super Bowl Champion Glazer family.

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Bc you have no idea what we are talking about

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What has debt prevented United from doing? Surely you aren’t going to say it’s stopped them from buying players.

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The rebuilding job they needed in the late noughties was obvious. They, like Arsenal, relied on Ferguson's immense ability to get points from nothing. By the time that Ferguson retired, they needed a major rebuild job. Moyes targeted Fabregas at first, because he saw they needed a creative player to fill a gaping hole that was occasionally filled by Scholes, Rooney, and others, depending on the season, but a hole that nonetheless existed since 2009 at a minimum. That same year they were saddled with 773 million pounds of debt, debt directly related to the way the Glazers bought the club. The club has had to pay more than 500 million of that just on interest payments alone. Without that debt, the rebuild job would not have been delayed, half a billion wouldn't have been taken out of the club, and the club would have been better able to compete with the new prices set in the market. I don't think people understand the degree to which the Glazers have bled the club, as the interest payments on the debt this decade exceed the debt of all the other PL clubs, if my napkin math is correct.

The debt may not have stopped them from competing for one or two 50 mil dollar players, and certainly they funded many of their transfers through massive commercial deals, again made through Ferguson's vision of building a massive club, and not anything the Glazers did, but the sheer fact that the Glazers saddled the club with so much debt for no purpose other than to ensure they don't pay anything should bother every fan. Again, clubs are not businesses, and treating them like they are misunderstands what the product is, and who makes the product. Hint: it isn't owners like the Glazers.

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The debt may not have stopped them from competing for one or two 50 mil dollar players

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You are just going to gloss over the players you’ve spent 100M on?

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Will say this about the Glazers’ debt... if they had gutted the roster and risked relegation to pay it down yall would be pissed too.

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Of course they would be pissed, because the debt is related directly to the Glazers purchase of the club. How do you people not understand this?

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The debt has influenced what players to buy for sure at certain junctions of the Glazers ownership

When CR7 was sold the money wasn’t used to bring players in, it was used to pay off the debt and interest payments

United still has to be self sufficient running as a club while having to pay off the debt put on the club by the owners. Over a billion pounds has been taken out of the club that could have been invested properly with in the club. Facilities, scouting, director of football and buying the right players

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Without deviating too deeply into the intricacies of LBOs, the "saddling" of United with debt impacts the Glazers more than it does United.

Their investment in the club is not much more than the typical PE buyout (though with longer timeline). Load up on debt (cheaper than equity), make initial splurges/investment that will pay off down the road that you otherwise w/couldn't do in the absence of additional capital, watch the top line accelerate as a function of the investment, slash overhead (or just be cheap) as the ownership fattens the bottom line for sale, and sell at an exit price that now dwarfs the debt. It's almost if the club has been run by a banker for a while.

We can't know the particulars of the financial health of the club back when CR7 left since that was pre-public filings (and EPL clubs were in far more tenuous financial shape then), but nothing in the current financials imply debt service is hampering the club's ability to compete. The magnitude of the ongoing dividends simply imply the opposite.

Long-term the debt doesn't matter either because at exit the sale proceeds available to the Glazers get reduced by the amount of whatever's outstanding and the debt gets retired. The existing Glazer debt ends when the Glazers exit.

The LBO made the deal possible for the Glazers' and continuing to have a balance sheet loaded with debt has huge financial advantages for them, but neither the short nor long-term prospects of the club are in peril by their choice to load up on it.

Their refusal to re-invest in the club and instead milk it through dividends (and initiate share buybacks last year) is the real issue.

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Dear Fan Representatives, Thank you for your letter dated April 30, sent in your capacity as representatives of Manchester United fans. I read the contents closely and your love and passion for the club came across very clearly. I want to salute your service to the Fans’ Forum, which I know is a vital channel for consultation between the club and our fans. As I recently stated publicly, I am personally committed to ensuring that we strengthen this relationship in future. Your heartfelt letter captured the unique spirit of Manchester United, forged through decades of triumph, adversity and tragedy, and still powerfully present in today’s exciting team under Ole and the vibrant fanbase which you represent. I was personally humbled by parts of your letter, as you explained so clearly why our initial support for the European Super League left you feeling angry and let down. I would like to reiterate my sincere apology for the mistakes that were made. In particular, I want to acknowledge the need for change, with deeper consultation with you as our main fan representative body across a range of important issues, including the competitions we play in. We also recognise the importance of fan and football interests being embedded in key decision-making processes at every level of the club, and we are open to constructive discussions on how to reinforce that principle.

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We remain committed to working with the wider football community to make the game stronger and more sustainable over the long-term, and we will now refocus our efforts on doing this within the existing structures of UEFA and the Premier League. In addition, I want to reassure you that my family and I care deeply about Manchester United and feel a profound sense of responsibility to protect and enhance its strength for the long-term, while respecting its values and traditions. Our top priority is, and will always be, competing for the most important trophies, playing entertaining football with a team comprised of top-quality recruits and some of the world’s best homegrown talent. Under Ole, we feel we are absolutely on the right track. Success on the field must be underpinned by solid foundations off it. We have supported sustained investment in the team over many years, and that will continue this summer. We recognise that we will need to significantly increase investment in Old Trafford and our training complex to ensure that the club’s facilities remain among the best in Europe. As part of this, we will consult with fans on investments related to the stadium and the matchday experience.

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Indeed, one of the clearest lessons of the past few weeks is the need for us to become better listeners. To this end, I can commit the club will engage across all of the issues raised in your letter. To highlight some specific points, as one of the few European football clubs listed on the public markets, we believe in the principle of fans owning shares in the club. We have previously engaged with the Manchester United Supporters’ Trust on fan share ownership and we want to continue and accelerate those discussions, together with provisions to enhance associated fan consultation. We recognise that the Government-initiated, fan-led review of football is a positive opportunity to explore new structures for fan engagement and influence. I can assure you that we will willingly and openly engage in the review, with the aim of putting fans at the heart of the game and ensuring their interests are advanced and protected. These commitments are a starting point for further dialogue, including all the specific points you raised, rather than final proposals. We want to work together to come up with an ambitious package of measures which will transform our relationship with fans and strengthen the club for the long-term. In this spirit, we will reach out to members of the forum to schedule a meeting in which I shall participate as soon as possible after the final game of the season. Thank you again for your work for the forum and your passion for the club. I look forward to meeting you and in the meantime let’s look forward to a successful end to the season. With best regards, Joel Glazer Executive Co-Chairman and Director

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At least he acknowledged The stadium needs to be fixed but didn’t really lay out how or what, and fan ownership but that’s not the type of fan ownership the supporters trust was talking about

As for the rest he ignored the rest of the issues that have been brought up and reads like a PR firm wrote it.

Mainly stealing money from the club and using the club to pay off a debt it never wanted

If they care so much about United like he claims, it would have never gotten to this point. Care so much they neglected the stadium to the point the roof leaks a lot every time it rains.

Yea it read as a big nothing burger to me. Watch the announce 250 into Trafford and Carrington and dont sign anyone of note the next couple summers

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Manchester United have missed out on a proposed new training kit deal worth £200m over 10 years after the Manchester-based company The Hut Group had concerns about the supporters’ campaign to boycott the club’s commercial partners in protest at the Glazers’ ownership, the Observer understands. Richard Arnold, United’s group managing director, was told on Friday that THG had pulled out of a contract which was due to start on 1 July.

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O snap