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United In Crisis & Partly Blame Manchester City

United In Crisis & Partly Blame Manchester City


Manchester United are up to their necks in debt, no secret there I'm afraid, but an additional crisis has recently reared its ugly head.

Sir Alex Ferguson

The mouthy Scot has recently turned 68-years-old and in a polite way, I have to say he's beginning to show his age. His future at Old Trafford is secure for now but what happens when he finally calls it a day?

There lays the problem and yes, we have to return to the clubs finances before we can answer the above.

It appears the Glazer family may have to refinance the club's £700m debt but how on earth can they do that when the world's banks are reluctant to sink good money after bad?

The Independent has seen a copy of a 322-page document in which Manchester United admit to potential investors that replacing Ferguson will be one of their greatest challenges.

Among the 15 pages of 'risk factors' the club outline an issue when it comes to replacing Fergie. They add...

'Any successor to our manager may not be as successful as he has been.'

Other concerns include...

* The rising power of Manchester City. United admit that their continued success, especially in domestic football, is under pressure from clubs that have the backing of wealthy owners.

* On page 17 of the document, United say...'We face strong competition from other football clubs in England and Europe. In the Premier League, recent investment from wealthy team owners has led to teams with strong financial backing.'

* The prospect of Uefa's new 'financial fair play' rules prohibiting clubs such as United from participating in the Champions League if they accrue large debts or persistently spend more than they earn.

The document says...'There is a risk that, in conjunction with increasing player salaries and transfer fees, the financial fair play initiative could limit our ability to acquire or retain top players and, therefore, adversely affect the performance of our first team.'

* That United's popularity may drop 'in certain countries or regions' if they do not sign high-profile stars from commercially-important regions such as the Far East. This appears to be an acknowledgement of the popularity in Korea that they have earned from the signing of Park Ji-sung.

* The 'behaviour' of players. As well as the admission that United are 'highly dependent' on the performance of their players, they also say that success is also dependent on 'to a lesser degree, the behaviour of players and staff on and off the pitch.'

* Spiralling wages for players. United's wage bill for players and staff rose by £28.8m to £121.1m for the last year. On page 16 of the document, United say...

'Over the past three years, salaries for players and coaching staff have increased significantly. If there is a continued increase in the level of salaries paid to top players and coaching staff in general, we may be required to increase the salaries we pay to avoid losing key members of the playing and coaching staff. Further increases in salaries may adversely affect our results of operations.'

I don't know about you but I have a feeling Old Trafford is on the verge of imploding. The club cannot sustain such idiotic owners continually coming along and taking £10m here and £10m there. But hey, do I care?

Thank the Lord we (City) have owners who care about the club and are more than happy to invest in the infrastructure. This time next year we might be saying RIP Manchester United.

If you want to have your say, feel free to add your comments in the section directly below this article.

To read the article in full, CLICK HERE.

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Writer:Tudor
Date:Wednesday January 13 2010
Time: 1:27PM

Comments

0
Manure ruined the transfer market for everyone when they accepted £80m for tranaldo. Price inflation and "lack of value" in the market followed that single transfer, so I'd like to know who exactly is ruining football. P.S. Heard the one about the financial mess that is Leeds United? Apparently they had to sell their training ground and rent it back off of their owners. Not even Manure would do that.... :-P
fifthcolumnblue
13/01/2010 13:35:00
0
"Manure ruined the transfer market for everyone when they accepted £80m for tranaldo." What a stupid comment. If u guys had've signed Kaka for £100 mil or whatever it was, would it be right then to accuse Milan of ruining the transfer market??
Zbam
13/01/2010 13:49:00
0
Camel Gob signed for the rags 8 years ago for £30 million. That was alright for them then as was breaking all transfer records repeatedly down the years. Pallister, Yorke....lest we forget...
Johnny Baguette
13/01/2010 13:55:00
0
A taste of exactly what they have dished out to the rest of the football clubs when they just came calling for the best players and now they are not able to buy all the players because there are others in the market ready to compete, all this goes to making a fairer league and more exciting for the fans, instead of the usual suspects.
Buzz Lightyear
13/01/2010 14:02:00
0
2017. If you know how to read their financial commitments you will find that that is the year when all their debt has to be repayed. So the cockneys have 7 years to find another team to 'support'.
jackblue
13/01/2010 14:29:00
0
We've broke 30 million once... Robinho.. and that was more a statement of intent than anything. Rags broke it with Berbaflop.. Camel Gob too... United have been 'inflating' the market for years.
MCFC_Goatboy
13/01/2010 14:51:00
0
good post jackblue lmao.
jljyid
13/01/2010 15:38:00
0
They won't die, the club IS to big of a name to go this way, but it is heading for implosion, and years and years of mediocrity. Wonder how many will stay loyal when this happens?
BlueWolfie
13/01/2010 15:46:00
0
Perhaps as a gesture of goodwill, we could have a bit of a charity do for the hard up neighbours down the road? A bit like a harvest festival, I've got some old cans and stuff at the back of my pantry I'm willing to donate, rice pudding, pilchards in tomato sauce, that type of thing - if we all chip in we could probably raise enough for a minibus - and if we really try hard, one with windows to lick.
It's Grim Oop North
13/01/2010 15:53:00
0
Did anyone have sympathy with leeds when they nosed dived and said they were too big to go down. If you mismanage a Club and mispend funds at your disposal, what are you expecting, The government to bail them out. Platini should be aware of clubs like the rags, who before the glazers came were commercially viable and made money hand over fist, but have since been burdened with the Glazers debts.
Buzz Lightyear
13/01/2010 16:38:00
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