Apparently the value of money now days has depreciated or at least for some people.
As you may or may not be aware, Manchester United is supposed to be the third wealthiest team in the world.
However their debts are now more than 700 million pounds and are increasing as you are reading this.
A group of fans known as the “Red Knights” has a plan that involves attracting “super-investors” to gather at least a billion pounds and make an offer to the Glazers Family which owns the club.
A spokesman for the family however has said that the sums must be, a lot bigger, since the family would be getting only 25% return over five years. I am not an United fan, but clearly their American owners are no good for the team. Even with such a huge debt, but they will not let it go … hmmm makes me wonder why?
Perhaps they understand the love of the fans, and how valuable is the team to them, so they will try to squeeze the last drop of the juice? Actually I don’t blame them, and before you burst in rage let me tell you why. People now days care only for the cash, so my question to you is why did the board, approve the deal? Why aren’t investor first diligently checked for debts,frauds and whatever illegal practices you can think of and then be allowed to bid.
Why would someone with a debt, be allowed to buy such a large portion of shares? Duh, again for the money. Shareholders John Magnier and JP McManus have made over 70.0m pounds profit for selling stake to the Glazers. See this is the funny thing about large sums of money…. it changes people, and when people in control change, teams and this lovely sport called football changes as well.
So who’s to blame here really? Is it the Glazers for seeing an opportunity and taking advantage of it, the shareholders? Or is it us the regular fans that care too much ? I guess that’s up to everyone one of you, but if you want share your opinion below.
