Stock watch

Stock Market

It is a period of gloom for David Moyes’ Manchester United side on the pitch; and not much better than that for the Glazer family’s MANU stock in the capital markets. Trading at a dollar over the $14 IPO price on the New York Stock Exchange, United now boast a market capitalisation of just £1.5 […]

Family debt: the Glazers not yet moved to invest

Glazers

It has taken, by any reasonable assessment, just shy of £700 million in interest, repayments and fees, three refinancing rounds, and countless intrigue, but Manchester United’s huge corporate debt is finally under a modicum control. There have been times, many of them, when the day seemed unlikely. Not that United is debt free – far […]

Reds turn to pay-per-view in search of new revenues

Old Trafford

“Watch Live,” screams the banner on Manchester United’s official website, the club declaring that “pre-season has arrived” alongside a warning that MUTV online is the “only place in the world” to watch the Reds’ final warm up fixture against AIK in Stockholm next week. Indeed, it is the first time that the club has aired […]

Fergie loses sight of financial reality… and title

There has been a certain sense of inevitability about Manchester City’s rise over the past four years. After all, while football has its own financial peculiarities, a market is a market is a market. Money talks in football just as in any other industry, and City’s money is singing from the rooftops this season. On […]

James Gibson’s legacy 80 years on

Manchester Guardian Tuesday, December 22, 1931

“There is room in Manchester for two clubs,” said James William Gibson upon effectively taking over Manchester United on 19 December 1931. Manchester City was then the region’s premier club, and United, by contrast, was on its knees after years of financial mismanagement and falling crowds. In debt to the tune of thousands, the club […]

Six years on, same old story

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 […]

When it comes to money, it’s all spin

Malcolm Glazer

Manchester United has £165 million in the bank and is bent on spending all of it strengthening Sir Alex Ferguson’s squad this summer. At least that’s the conclusion reached by the Manchester Evening News and 1,000 blogs today after director Joel Glazer broke a five-year silence to claim that the club has “sufficient cash reserves…for […]

Barça 0 – 1 Market

FC Barcelona

Some things in football are sacrosanct. Michael Owen has no place in a Manchester United team. The Football Association is populated by bumbling idiots. FIFA’s executive committee follows the money. And FC Barcelona will not take cash for shirt sponsorship. Until now. Hang up the wreaths. Pay your respects. Football. R.I.P. One of those tenets […]

United posts £83.6 million loss

Manchester United’s annual accounts to 31 June 2010 shows the club made a huge loss of £83.6 million despite rapidly increasing operating profits. The huge losses, associated with refinancing, debt interest payments and a decline in the squad’s value, will further fuel the anti-Glazer protest movement at Old Trafford. One-off costs associated with the £502.5 […]

Beware owners bearing big promises

Hicks Gillett

The proposed takeover of Liverpool by New England Sports Ventures (NESV) for £300 million has the club’s supporters excited about a new dawn. Not without reason: American owners Tom Hicks and George Gillett’s leveraged takeover in 2007 has taken Liverpool out of the Champions League and to the precipice of financial oblivion. But are the […]