Glazers, Bond Issue and Debt

[Noucamp99]

Fergie pleads for United unity

Sir Alex Ferguson has called for unity around Manchester United after revelations of their financial worries sparked disharmony.

Although a successful £500million bond issueappears to have removed any imminent threat to the club, supporters are now aware United's overall debt has topped the £700million mark.

In addition, as part of the prospectus issued with the bond, it was revealed that options to raise cash include the sale of United's Carrington training base and their Old Trafford ground.

That has been enough to mobilise the anti-Glazer minority within the club's fan base.

After a well-attended meeting last week, at which one fan called for Ferguson to resign, supporters inside Old Trafford for the win over Burnley chanted 'We want Glazer out'.

With a fresh campaign named 'Love United Hate Glazer" surfacing amongst fans, Ferguson is reminding supporters of the need to back their team.

"The family of Manchester United is under pressure as a result of all the issues surrounding the ownership and financial situation of our club," Ferguson said in the official match programme, United Review.

"Some of our fans are clearly unhappy with our financial position, but we mustn't allow the situation to become divisive.

"The danger is that we could be presented as being split, which would be harmful and inaccurate, because I believe the vast majority of United fans are behind us and appreciate the importance of standing together in support of the team.

"I could see our opponents rubbing their hands with glee at the thought of watching us fall out among ourselves if we don't think carefully about what we are doing.

"We must not lose our focus - which is about building a strong football team that will win trophies. That is what we are about, or at least it should be."

Momentum
With anti-Glazer campaigns gaining momentum ahead of their Carling Cup semi-final second leg with Manchester City at Old Trafford on Wednesday, Ferguson continued his rally cry by pointing to the club's glorious past.

"We must remain loyal to the cause of Manchester United," he continued.

"The staff and players should be quite one-eyed about that and stay true to the history of the club and all the work done by Sir Matt Busby and the other managers who have contributed to creating the great club we have at Old Trafford today.

"This is not about stifling criticism. It is simply a plea to stand together rather than take action that will damage ourselves more than anyone else.

"Manchester United is bigger than me, the players, the directors, the officials and fans. And, particularly at this critical stage of the season, we need to pull in the same direction.

"It would be a shame to lose our concentration now because I can really see light at the end of the tunnel as we ready ourselves to push for the championship."

Source: skysports.com

I think it was quite clear on Saturday that the fans inside OT got behind the team when they were needed, but also waded into the anti-Glazer feeling very loudly. I guess in some instances, SAF has to toe the party line?

[Bennthered]

GLAZERS = JOKE!!!
they dont care about OUR club they just care about money!

[Noucamp99]

I've found a picture with the green and gold AIG shirt on it. See the little girl on the left side of the picture? Instead of the Norwich-style scarves, there were a few of these on view on Saturday. I mentioned it in the chatbox, if you were on there?

[DaleDaManc]

Yeah there was a fella out side OT on SSN with that too!
cool init.
paypal wouldn't work for us so still cant get the scarf.anyone know if it will be still for sale when we take on Ac Milan at home?

[Phil-M.U.F.C.]

Yeah read that about Fergie wanting unity. Guess he has to try and keep the peace.

[Noucamp99]

I'll see if I can find out about the scarf sales at the ground. Unless anyone was up for the Hull game and knows? Other than that, how about Norwich scarf, lol?

[Phil-M.U.F.C.]

Harris in Utd takeover plans
'Mr Fixit' working with Red Devils fans

Renowned football finance expert Keith Harris has offered a lifeline to Manchester United's mounting debt by confirming he is trying to broker a takeover of the club.

United fan Harris has been labelled as football's 'Mr Fixit' after being involved in several Premier League takeovers, such as welcoming Roman Abramovich to Chelsea and helping Eggert Magnusson take control of West Ham.

And with the Red Devils holding growing debts of more than £700million since the Glazer family took over in 2005, Harris said members of the Manchester United Supporters Trust went to him as a glimmer of hope to help turn around the club's financial fortunes.

"Yes, we have been approached," Harris said.

"We can lend our weight to doing something for the good of United and for the good of football - none of the takeovers that I have been involved in have involved any debt.

"They've been takeovers by people who've wanted to be involved for reasons other than money."

The Seymour Pierce investment bank chief executive declined to name any of the people who have approached him, identifying them only as 'The Red Knights'.

"A number of people have been to see me and I've had long chats with them," he said.

"I know there are one or two people in senior positions in the financial services that have access to the capital.

"We don't know if the Glazers can be made to listen, but there is serious intent on the part of people who have support in their hearts. The time feels right."

Earlier it was revealed that the club issued £500million worth of bonds in a re-financing effort. However Harris shares the anger displayed by fellow United supporters.

"(The Glazers) are playing with an icon of football, one of the most respected brands in the world, and it is in danger," he said.

"Seventy five pence of every pound (fans) are spending is now going to the Galzers either for themselves or to pay debts."

United have since issued a statement to deny there are problems.

A spokesman for the Glazer family insisted they have no interest in selling.

source: skysports.com

[kasaki]

Keith Harris, a football financier, claims to have been approached by wealthy investors regarding the possibility of taking over reigning Premier League champions Manchester United and, in so doing, ousting the unpopular Glazer family from their position as owners.

Manchester United's Supporters' Trust have staged meetings with leading club supporters, and have been in discussion with Harris about a supporter-led purchase of the famous club. However, those involved in the potential takeover have yet to be named, and have been labelled by Harris simply as "the Red Knights".

"Yes, we have been approached," Harris is quoted as saying by the BBC.

"We can lend our weight to doing something for the good of United and for the good of football - none of the takeovers that I have been involved in have involved any debt," Harris said, in an allusion to the escalating debt that has come to typify the Glazer family's involvement with the Old Trafford outfit.


"They've been takeovers by people who've wanted to be involved for reasons other than money."

He continued: "A number of people have been to see me and I've had long chats with them. I know there are one or two people in senior positions in the financial services that have access to capital. We don't know if the Glazers can be made to listen, but there is serious intent on the part of people who have support in their hearts.

"The time feels right."

In a refinancing effort, the Glazers recently revealed a £500 million bond had been issued. The mounting debts, believed to be in excess of £700m, have therefore been temporarily appeased. Yet this has done little to dilute the vitriol levelled at the current owners by certain sections of the club's support.

Harris added his voice to the criticism of the Glazers' management saying: "[The Glazers] are playing with an icon of football, one of the most respected brands in the world, and it is in danger.

"Seventy-five pence of every pound [fans] are spending is now going to the Glazers either for themselves or to pay debts.

"If these rumblings become a revolution and [fans] stop going - as difficult as it is for them not to go - and the pounds stop coming in, there is real peril."

United maintain their stance that the club is, as reported by BBC, "the most profitable football club in the world".

Regarding a sale, Harris said: "It depends on the Glazers' attitude but we've got to think that their businesses in America haven't done well - nobody's businesses in America have done well - and they're probably highly geared to those businesses.

"If this is an opportunity for them to take money and go then you have to think they would listen to that."

Basically the same thong but from a different perspective, I'm hyped about this.

[Noucamp99]

We're all hyped, mate. Everything crossed it comes off. I wonder what their business model would be, though? Along the lines of Barca? Great if it is!

[Phil-M.U.F.C.]

Hope this goes through.