Friday afternoon on 4th June, Joel Glazer finally met with Manchester United fans forum representatives - the first meeting between Glazer family and fans 16 years after the heavily leveraged buyout that saddled the club with £540 million of debt and never been wiped out due to interest payments, loans and dividends made out to the Glazer family of over £1.1 billion in the same time. Before Glazers the club was debt-free and self-sustaining, consequently became the most sought after club in world football including being pursued by Rupert Murdoch's BSkyB the chief broadcasters of English Premier League which was vehemently and successfully opposed by unifying all United fans organizations, prominent MPs like Michael Crick and the media. Edwards family owned United between 1958 and 2002 for 44 years but were generally hated by the fans for mismanagement of England's most famous sporting institution as detailed in the brilliant book 'Manchester United: The Betrayal of a Legend', sadly same fate has befallen the Glazers.
The £1.1 bln cost of financing the Glazers’ ownership is “only” 16% of #MUFC £6.8 bln expenditure since June 2005, but it is a huge sum. It’s more than £1.0 bln spent (net) on players and could have been spent on improving the squad (or even the increasingly shabby Old Trafford). pic.twitter.com/q9pepebs9G
The £1.1 bln cost of financing the Glazers’ ownership is “only” 16% of #MUFC £6.8 bln expenditure since June 2005, but it is a huge sum. It’s more than £1.0 bln spent (net) on players and could have been spent on improving the squad (or even the increasingly shabby Old Trafford). pic.twitter.com/q9pepebs9G
— Swiss Ramble (@SwissRamble) May 4, 2021
Glazers were forced to apologize and meet the fans, it has to be noted not on their own volition but due to the fan protests and widespread condemnation of the disastrous flirtations with European Super League announcement on 19th April. Protests by United fans led to disruption to the training at Carrington on 22nd April and cancellation of the biggest fixture in the English league against their arch rivals Liverpool at Old Trafford. Glazers were forced to pay £22 million fine imposed by the Football Association. Despite the Covid-19 pandemic and Super League fiasco the Glazers still persisted with taking $0.09 per share as dividend that will be issued on 30th July. This makes the mockery of fine imposed by the FA, and further raises questions on why this take-over was not blocked by the Monopolies and Mergers Commission now called CMA. Ironically its the three American owners of three big traditional England football league clubs in Manchester United, Liverpool and Arsenal who have backed the Super League to mirror their operations in American NFL franchises!
Same top three English teams were involved in the previous flirtation of European Super League in 1998, there again backed by JP Morgan from where the Glazers hired Ed Woodward to work on buying Manchester United. Then JP Morgan had promised $20 million to each of the founding clubs and of being in a group of 16 teams who will participate for six years irrespective of their domestic league position; that sum became $200 million in 2021. Since then the number six has had deliberate evolution in European football - top 6 teams: ignoring traditional giants of the game like Everton or Aston Villa, these top six sides in the league had steadily increased their lead from the rest of the league. Evolution perhaps has a surprise too, in Leicester City's of the world who have worked hard from ground up to evolve into a major club by strategic choice and financial backing by football savvy owners. Contrast Leicester City owners with Glazers who famously cut the net budget in the later years of Sir Alex Ferguson to about £20 million each year. Recall United selling Cristiano Ronaldo for £80 million, lost Carlos Tevez to local rivals City and replaced the duo with Michael Owen (free transfer), Antonio Valencia (£16 million), Gabriel Obertan (£3 million) and Miram Diouf (£4 million) from Ole Gunnar Solskjaer managed club Molde! Consequently the last Premier League winning team under Ferguson had iconic veterans who needed urgent replacing - Giggs, Scholes, Ferdinand and Vidic. Imagine if Glazers would have been in touch with football where might United have been post Ferguson? Brian Glanville wrote this of the Malcolm Glazer in 2005 under the heading 'United they fall': "Utterly ignorant of soccer, owner of Tampa Bay Buccaneers American gridiron club, obsessed by the urge to make money from childhood, at odds with his own sisters over his mothers will, he is the very incarnation of capitalism red in tooth and claw."
This was not the first protest by the Manchester United fans who had previously launched the 'Green and Gold' campaign by Manchester United Supporters Trust (MUST) that was inspired by the colours of Newton Heath LYR (Lancashire and Yorkshire Railway) football club as United used to be known till 1902. Many loyal fans who had been supporting the club for more than two to three generations were part of this protest, and some of them even managed to form a new club FC United who now play in Northern Premier League the 7th tier of English football. They did not get the backing from any of players of the club including the "Class of '92" who instead invested in Salford City FC in 2014 and changed their jersey from tangerine shirt and black short to red shirt and white short. That kit sounds familiar!
In the absence of any football men on United board its the 'Class of '92' who are backing Ole Gunnar Solskjaer just like Sir Matt Busby backed Tommy Docherty when United suffered their last relegation and like Sir Bobby Charlton backed Sir Alex Ferguson when he faced his worst crisis in 1989. It must also be stressed that Docherty and Ferguson had achieved path-breaking success at their previous clubs in Chelsea and Aberdeen respectively unlike modest Solskjaer.
Threat of Super League finally made Gary Neville to take a stand against the Glazer ownership and further shared details of him recalling his medals given to United for display at their museum four years ago, as had a former United captain Martin Buchan. Thus far the "Class of '92" have rightly backed Ole Gunnar Solskjaer in general about the direction of rebooting the club as per its tradition. If Solskjaer does not win trophies this upcoming season be assured this backing might change. Gary Neville had the toughest of tasks to succeed Roy Keane and bridge the chasm that emanated from the bitter fall out between Ferguson and his long standing, most successful United captain. Neville has successfully campaigned for an independent regulator in football to which the government has positively responded, and his assessment of the outcome of fans meeting with the Glazers was spot-on too. Doubts remain if Glazers would ever agree to a fan share scheme but the result of #NotAPennyMore campaign that has led to the The Hut Group pulling out of the training kit deal offers hope.
My Fans Forum Comments
— Gary Neville (@GNev2) June 5, 2021
- should have committed to paying debt down over next 5 years
- no dividends for 5 years
- minimum yearly investment into team for 5 years
- missed an opportunity to show a new OT and Training ground vision
- more detail on fan share scheme required
The Manchester Munich Memorial Fund (MMMF) that spearheads the joint group of major United fan organizations to lobby for recognition of Jimmy Murphy's major contribution in creating the Busby Babes and leading the fightback after the crash at Munich made significant breakthrough in their talks with the club who in principle have agreed to the proposal. Confirmation from Jimmy Murphy's grandson in 'All for United' YouTube channel.
Glazers NFL franchise Tampa Bay Buccaneers despite having the lowest win percentage 0.397 they shrewdly acquired the greatest player in NFL history in Tom Brady and won only their second Super Bowl. Can they replicate the same with Manchester United by getting Cristiano Ronaldo? Since the retirement of Ferguson and only when United are out of top four Glazers have invested heavily, this peak and trough transfer policy without a core guiding principle has back-fired thus far. Ed Woodward the embattled chief executive finally quitting and decision making decentralized to a limited extent makes for a fascinating season ahead, not just the transfers. Solskjaer wisely is being patient in his reboot to fill all facets of a modern football club by getting the youth setup revamped, hiring coaches at all levels, backroom staff, director of football, and this is slowly but surely leading to a crescendo of success as a tribute to halcyon days of Busby and Ferguson. If the Glazers do not stop taking dividends and reduce the debt nor engage with fans, irrespective of any on field success they risk being hated just like the Edwards. Old Trafford needs urgent attention!
2005-06 was the only time I got a postcard from United to join as a overseas member, immediately after the Glazer takeover. I remain hopeful of a positive change.
