One thing can be said for the Glazer family: they’re happy to go a long way to keep a secret. More than four and a half thousand miles from Manchester United’s base at Old Trafford, to the corporate tax haven on Grand Cayman in the Caribbean Sea, to be precise. But while the Americans seek [...]
The Ronaldo Money
February 21, 2012 by 70 Comments
Look behind the headlines – you know, the spin-driven articles pronouncing yet another quarter of glorious revenue growth – and Manchester United’s Q2/H1 financial statement once again paints a gaudy picture of the Glazer family’s ownership. It is a picture of a still heavily indebted club spending its profits buying back debt at an inflated [...]
Reds’ boom goes on but the Glazer drain continues
November 15, 2011 by 11 Comments
“There is only one Manchester United,” said Richard Arnold, the Reds’ Commercial Director last month. Indeed, the club’s first quarter results, published Tuesday, once again demonstrated the cash generating monster it has become, with yet another quarter of increased turnover posted. Thanks in part to an aggressive regionalised commercial strategy, the club is generating more [...]
Glazers’ dual track IPO gets green light
September 16, 2011 by 30 Comments
The Glazer family will list Manchester United on the Singapore Stock Exchange (SGX) this autumn after local authorities gave the American family a green light for the partial IPO. The family will sell off around a third of United’s shares in a much-discussed dual track listing that will raise money but ensure the Glazers remain [...]
MUST evokes memories of Best … and Kitchener in new campaign
August 22, 2011 by 4 Comments
The Manchester United Supporters Trust (MUST) needs you… to don the Green & Gold of protest and force the Glazer family to use autumn IPO proceeds to rid the club of debt. At least that’s the message of MUST’s new poster campaign, which was launched today. Staring George Best in Lord Kitchener mode, the new [...]
Glazers to pay down debt? Believe it when you see it
August 19, 2011 by 22 Comments
There is something rotten in the republic of mancunia when national journalists buy, with seemingly little attempt at corroboration, the Glazer family’s ample spin on the upcoming Manchester United IPO in Singapore. Indeed, the Times and Telegraph each published heart-warming tales of the family seeking to pay down the club’s £500 million corporate debt and [...]
Poll: will you invest in United IPO?
August 18, 2011 by 37 Comments
Confirmation that Manchester United has applied to list on the Singapore Stock Exchange (SGX) before the end of 2011 means that ordinary supporters be able to own part of the club for the first time since 2005. The planned partial IPO was confirmed on Thursday when a preliminary application was made to SGX, reports Reuters: English [...]
Asian IPO back on the agenda
August 16, 2011 by 57 Comments
Belief that the Glazer regime is readying an Initial Public Offering (IPO) in the autumn has once again gained credence following widespread international media coverage today. The Wall Street Journal broke the news Tuesday that the Glazer family has selected the Singapore Stock Exchange (SGX) as the family’s preferred venue for a $1 billion partial-IPO [...]
Glazer IPO unlikely to offer fans major stake
June 14, 2011 by 10 Comments
The weekend’s Times newspaper report that the Glazer family is considering floating Manchester on the Hong Kong stock exchange raises the possibility, for the first time since 2005, that supporters could claim a stake in the heavily indebted club. It’s a goal that groups such as the Manchester United Supporters Trust (MUST) have been working [...]
Six years on, same old story
May 14, 2011 by 25 Comments
It is now six years since the Glazer family waltzed into Manchester United, encumbering the club with hundreds of millions in debt and incurring the wrath of a legion fans. In the intervening period the family has priced thousands of supporters out of the club, while many more have walked away in disgust. Yet, with [...]
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