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Glazers Buy Now, Pay Later

There was a large number of fans including myself apposed to Malcolm Glazer’s takeover of the club. The club was the most profitable football club in the world, winning trophies and signing the likes of Cristiano Ronaldo and Wayne Rooney but was about to be plunged into £660m worth of debt, ticket prices were going to rise and efforts were going to be made throughout the club in order to cut costs so that the Glazers could repay this debt.

However, after a season where United played some of the best football they have for years, won the Premiership title and then gone out and spent £70m on new players, was the hype and warnings an over-reaction?

For the average supporter who wants United to win at any cost, maybe. However, when the Glazers took over the club they promised £25m a season on transfers. So far, nothing in this region has been spent on players until now. People look at the signing of Michael Carrick for £17m last season but neglect to mention that we also sold Ruud Van Nistelrooy to Real Madrid and John Obi Mikel to Chelsea and actually made a profit in the transfer market last season.

In fact, since the Glazers have come to United, the club has sold more players and sent more out on loan than before which has cut the costs even further and should in fact have enabled the club to spend more than the £25m a season on players that they promised.

From 2005 onwards the club had signed Van Der Sar, Park, Vidic, Evra, Kuszczak and Carrick for a total of £35m, someway short of the £75m that should have been spent over those three seasons and this is before the sales of Phil Neville, Kleberson, Bellion, Spector, Fortune, Mikel and Nistelrooy for a total of around £25m.

Going on that theory, the club should have spent £100m by the end of this summer so would need to spend £90m to make up their end of the promise so £70m would still fall some way short of what was initially promised.

That is infact if they’d even spent £70m this summer. Supposedly, United have spent £17m on Nani, £17m on Anderson, £17m on Hargreaves with another £20m going out on Tevez. However, when you take a closer look at these deals, the total United are paying out this summer may even fall below the £25m that was promised.

Tevez’s deal is initially a two year loan deal and whilst the price may rise up to £20m plus, the first two seasons is thought to be costing United £4m a season.

United are also thought to have paid £7m and £8m up front for Nani and Anderson with the remaining costs being paid over the length of the deal.

Hargreaves is the only one that United have paid the majority for up front but this was after the 1st of July and will therfore fall into next years accounts.

The signings will hopefully prove that exciting times are still ahead for United but if anyone is fooled by the Glazers sudden generousity then they need to think again. These signings have been made with the cost spread out of a number of years which will certainly limit funds for the next few seasons.

Costs are still rising at the club, fans are being screwed by automatic cup ticket schemes and rising ticket prices whilst the club are still not spending anywhere near the amount that was promised when so many fans voiced their fears over the takeover.

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  1. […] as I pointed out earlier this month in the Glazers Buy Now, Pay Later article, the free spending that has been happening this summer isn’t all it’s cracked […]

  2. Haruna Benjamin :: March 20th, 2012 4:42 pm

    Greate Man utd please Sir.Ferguson to sign his former player (Christiano Ronaldo)back, and Warsley Sneijda(the intermiliano) greet Nani, Valencia,Carrick,rooney,chicharito,& Evans

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