Unsurprisingly, Glazer would have us believe United are the only major worldwide institution untouched by the current economic conditions;
United 'safe' from credit crunch - Manchester United - Football - Sport - Manchester Evening News
Perhaps just as unsurprisingly, Mathieson swallowed the lot. The press office have this far left the MEN alone, as their toadying up to the regime was almost understandable. They have to be allowed in to get coverage obviously. But, Mathieson's article may as well have been written by Malcolm himself, so, this has been sent......
Stuart,
It has long been acknowledged that the MEN have to preserve their access to Old Trafford, and as such little or nothing will be reported to upset the apple cart, especially when it comes to the Glazer ownership.
However, the article that bears your name of yesterday, 'United 'safe' from credit crunch' has reached a new depth of unresearched, unchallenged regurgitation of what the Glazer's want everyone to believe.
Firstly, you state United announced record profits last year. Well, the football club did. It then has to pay all of that profit to Red Football to service the debt, a fact you fail to mention. This is negligent, at best.
You state the club is still selling out, without mentioning the fabled 'waiting list' for season tickets has disappeared, with these having been on open sale until very recently. You also fail to mention EVERY home game so far this season has gone on open sale, a circumstance unheard of prior to 2005, even though, as you manage to slip in despite its irrelevance to the headline, that United are Premier League and European champions.
You refer to the refinancing of 2006, without mentioning that the Glazers were knocked back for another refinancing in 2007.
You list player purchases without mentioning that these fees were at least 50% offset by player sales, that the balance was merely added to the debt, and that the amount owed on players already in red has reached stratospheric amounts.
You state AIG is a small part of the revenue stream (despite the MEN trumpeting it as Glazer wizardry many times -and not mentioning AIG are in bed with the hedge funds that Glazer used to buy the club), but who precisely given the world economic climate would step in and pay as much, as United claim?
Can I suggest that if the MEN are to glibly swallow everything Glazer spokesmen say, why not run their press releases through a scanner and put them on the MEN site in PDF form. That will save you at least 5 minutes typing, though zero minutes in thought and research.
The article on the web homepage linked below tells a truer story. Thats assuming you or the MEN care, obviously.
Many thanks
Fight For United.
Fight For United
MEN's 'United safe' story
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