Manchester United banter 90809

 

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21 Jun 2022 07:01:31
Our CEO bemoans the lack of investment, whilst at the same time this Friday the Glazers will pocket (quite legally) another £11m in dividends. Over £1Bn has left the club including interest etc in their tenure

Why does anyone still defend these leaches?

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21 Jun 2022 07:27:06
Red Man, do you have a pension?

If so then you are a leech who takes money out of businesses through dividends into your pension pot.

I'm not a fan of the Glazers, I feel they have mismanaged the club from day one. They are responsible for putting the wrong people in positions of power and then leaving them there while they fail at their job.

1bn has left the club in interest during their tenure.

1.4bn has also been spent on transfer fees in the last 10 years alone, around 1.8bn in total during their time.

A further 700m has left the club in agents fees.

A further 2bn in wages.

And around 400m in dividends.

So around 4.5bn in bringing in players and paying them.

1.4bn in interest and dividends.

I'd argue that if the 4.5bn had been spent well then no one would be that upset by the 1.4bn.

{Ed001's Note - that is a ridiculous comparison Shappy and shows you don't actually know what a pension is! You pay into a pension pot throughout your life and then draw on what you have paid in after retirement. It is not being a leech and that is a ridiculous thing to say. It is also nothing like the Glazers are doing by taking dividends out of a business. It is not even close to the same thing.}

21 Jun 2022 07:28:57
Wouldn’t surprise me if they announce a flurry of transfers at the end of the week to bury the news about dividends.

21 Jun 2022 07:34:03
Wow shappy, lost for words on that one.

21 Jun 2022 07:42:09
Red man he criticised the spending under a different man in the last 10 years whilst highlighting his role is to seek new investors. He knows we need to be better on the pitch for this to happen.

Give him a chance.

The glazers on the other hand…. horrible horrible folk. They don’t give a damn.

21 Jun 2022 08:09:37
Caolan, where do you think Richard Arnold has been for the past 10 years?

21 Jun 2022 08:10:05
Shappy that's is just plain ignorance.
Redman in terms of dividends they have taken out its small for a company of its size.
You know that.
Nobody defends the glazers to the best of my knowledge but you show absolutely no perspective and ignore the 1 billion of their own money that they have invested in the team.
Yes that 1 billion is their money they own the company.
Perspective new owners would have the club in more debt and take greater dividends perhaps.
You don't like the way they bought the club but they are not milking it dry and very far from it.
The debt to value ratio is not an issue at all. Many companies our size would be delighted with the books.

21 Jun 2022 08:34:05
Think the previous post may be onto something. Expect on fees agreed on Fdj maybe others on Friday. Trying to distract us from the parasites leeching the clubs money. Positive publicity to counter the negative.

21 Jun 2022 09:09:10
Tim have you ever owned your own business.

21 Jun 2022 09:12:43
Angel what was his role in the last 10 years? Woodward was running the show. Look at Van Gaal’s comments for a start.

Arnold will have seen the mistakes firsthand. He should have a clean slate before we start judging him as a failure as well.

21 Jun 2022 10:23:03
Caolan, Richard Arnold has been there for 15 years. He is a very close friend of Woodward since being at PWC and has been one of the glazers top deputies during their ownership of the club. There's a reason why he was chosen to succeed Woodward and not someone else.

21 Jun 2022 10:59:02
Maybe but you’re writing someone off before they perform the role. He has seen first hand the mistakes made by Woodward, and until I see Arnold doing a poor job I won’t be critical.

21 Jun 2022 11:07:54
Shappy I never agree with much of what you said but this is an all time low for even you. You just lost what little credibility you had. Such a disappointing response and one where you make your self look even more foolish than you normally do tututut.

21 Jun 2022 11:25:41
Hes really going to have to change it up to get any credit IMO. Pressure should be on him from the off.

He doesn't deserve it just because he's moved to a different role. He was a huge part of the problem before. Doesn't miraculously disappear now.

21 Jun 2022 11:41:59
Well said again Red Man.

21 Jun 2022 11:59:32
DIO Under normal circumstances you would expect an acknowledgement of the facts you point out and a retraction and apology for the post but it's just not in some people's make up. Its easier to pretend you know everything then stick your head in the sand.

21 Jun 2022 12:17:52
While I appreciate pensions aren't a perfect comparison, I still think they hold an element of truth in terms of perspective.

Yes you pay into your pension pot, however, that money is invested on the stock market to "grow" the size of your pension to enable it to sustain you once you retire.

Your pension pot isn't just the money you have paid in, but also your gains (or losses) from the way its invested.

Your money is invested and you gain returns in the form of dividends.

Red Man's idea that taking out a dividend or seeing a return on your investment as being a leech.

Which is frankly ridiculous. If there was no return on investment then no one would invest and the entire global financial system would come crashing down.

What the Glazers have done at United is the equivalent of purchasing a property on a buy to let mortgage.

They have borrowed money to purchase an asset that will grow in value through inflation, while also able to sustain itself and even give a wage to the purchaser.

No owner will come and buy the club with the aim of not making money for themselves.

Abramovic bought Chelsea for 300m, grew the club, made it self sustainable then sold for 2.5bn.

City and PSG if ever sold will make their owners a profit.

The difference with these clubs is they weren't massive global clubs with a huge history and tradition when they were bought. The owners had to grow those clubs, as will Newcastle's new owners.

It doesn't matter who the next owners of our club are, they might invest their own money or they might borrow to purchase the club. However, they will not be doing it out of the kindness of their hearts, they will want a return on that investment.

To think otherwise is naïve, while complaining that the current owners want a return on their investment is equally a silly point to be making.

21 Jun 2022 12:19:44
Angel - I completely agree mate. I’ve posted at length about this in the past but if people think Arnold and Murtough are the pioneers of change consider this - Despite some catastrophic results and performances they had absolutely no appetite to sack Ole. They sent everyone on holiday, buried their head in the sand, paralysed by fear and indecision until the decision was ultimately made for them. They then appointed RR as interim coach/ consultant. He said the squad needed “open heart surgery “ and upwards of 10 new players; Inevitably he’s no longer at the Club. Not the best start in my opinion and let’s not forget they have been at the Club in prominent positions for nearly 10 years already.

The Glazers will pocket their dividends on Friday and everything will carry on as normal. Only last year Kevin and Edward Glazer sold over £120m of B class shares. Not a penny of that money was invested back into the Club. Darcie Glazer used her shares as collateral to take out a loan. I could go on and on! This is how the Glazers run our Club. As the apologist will decree we’re a business at the end of the day but I say we’re much more than that.

21 Jun 2022 14:30:07
But what you say didn't matter dkib we are a business. That's a fact no more than a business.

21 Jun 2022 15:19:21
How can you blame Arnold for not sacking Ole. Woodward was still in charge, and according to some reports didn't want his last action to be sacking Ole!

Rangnick turned out to be disaster, but if he made some good suggestions behind the scenes they may end up having some joys from it.

This is the first new manager fully under their reign. Give it a chance.

21 Jun 2022 17:39:31
In all the time I've been reading posts on this site, I have never read such a ridiculous comparison. Shappy, if Red Man has contributed £100k into his pension, then he'll get a certain amount based on his contribution and the way it has been invested over the years.
The Glazers came in, took a club that had no debt andrun very well, and then immediately borrowed over £400m against the assets of the club. They basically mortgaged the club to the hilt.
Since then, they have taken over £1bn in Dividends, money the club doesn't have and can't afford, while the debt has risen to nearly £600m.
In any other business, and trust me as I've had a few, this is not a correct or ethical way of conducting themselves as directors.
Red Man is right, they are leaches.

21 Jun 2022 21:16:46
Ken

The Glazers have not put one cent of their own money in the club. The club is a legal entity in their own right and spent the money. The Glazers hocked the club into massive debt, ensured charges interests costs going out of the club exceeded £1.2Bn. They have been nothing but leaches.





 

 

 
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