Glazers Financial Games Revealed In England

January 12th, 2010

Joe is not going to pretend to be a finance guru, although he would be pleased to cozy up to Rachel Watson and help her with her taxes.

So Joe is not going to try and make sense of the many new financial revelations surrouding the Glazers new bond offering to refinance Manchester United debt. They are detailed in today’s Guardian newspaper.

The company filings have revealed, however, that the Glazers paid money from Manchester United’s coffers to affiliate companies that don’t appear to serve much purpose — other than being owned by the Glazers. These “management and administration” fees appear to be some quality profit grabs.

Manchester United fans in England are concerned the Glazers may be pocketing cash and are not going to spend a recent cash windfall from a player sale on new players.

And their upset is fueled further by huge soccer ticket price increases over the past few years.

What this all means for the Bucs, nobody knows. But the numbers sure don’t look so bad for Team Glazer over in England. They’re definitely taking home profit, even with the massive debt.

7 Responses to “Glazers Financial Games Revealed In England”

  1. justin F Says:

    sell this team to someone who cares like eddie b jr anyone who is willing to spend money what other nfl team can say they have the cheapest hc and gm in the nfl plus our hc is doing 2 jobs for the price of one 30 million under the cap for years but the glazers have the nerve to say we wont be able to spend money on players this year would be nice to have owners who are not billions of dollars in debt

  2. Slappy Says:

    They’ll never say it publicly, but the Glazers bit off more than they could chew when they bought Man U.

  3. Pete Says:

    So they have two pro sports teams that they are not spending money on. This is news? I guess ManU was not the cash cow.
    Only rich prep school kids would buy a soccer team. 😉

  4. Al Says:

    Sorry Al, that was a bit over the top.

    — Joe

  5. cheese Says:

    Really, Al. Looks like you are stereotypical hatemonger. …Never met a billionaire jew or a millionaire jew in my life and I’ve traveled the world for decades.

    The Glazers gave Man. U THREE consecutive championships and they are a privately held team. …The fans over there should be kissing their feet.

  6. strech9681 Says:

    They care more about futbol than football! Sell the damn team !!!!!!

  7. Jake Says:

    I’m no Glazer fan Al but this board can do without the offensive anti semetic remarks. Religion has absolutely nothing to do with the situation.