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Surveillance intensifies on US owners after English giant’s latest humiliation – RT Sport News

The Glazer family have long been the subject of protests from angry Manchester United fans

Manchester United’s controversial owners, the Glazer family, have sucked an estimated £1.1 billion ($1.33 billion) from the Premier League club since taking over in 2005, according to a Twitter thread detailing the finances of the club.

Given the Red Devils’ lackluster start to the 2022/2023 season which contained humiliating defeats to Brentford and Brighton, the club’s US ownership has come under increased scrutiny with protests taking place ahead of the first team home game.

On social media, respected football financial account Swiss Ramble has set up a thread on the extent of the Glazers’ work at the Mancunian club, as it has done in the past with the financial crisis of FC Barcelona.

Swiss Ramble estimates that since taking over the Glazers have taken ($1.33bn) from the Old Trafford squad, including £743m ($900m) in loan payments. interest on the money they borrowed to buy the club.

Another £147m ($178m) is made up of debt repayments, while the Glazers are also said to have used dividends of £166m ($201m), of which £133m ( $161 million) in the past decade alone.

United are the only club to pay dividends to their shareholders, it is noted, and the directors also received £55m ($66.5m) on the Glazers’ watch while an additional £23m (27.8 million dollars) left the club in “management”. costs”.

In the last ten years United’s spending has not once exceeded the money that has been brought into the club, it is claimed.

While Glazers defenders, or those looking to blame underachieving players and managers for the club’s failure to win the English top flight since 2013, point to the fact that £1.4bn ($1.7 billion) was spent on transfers. during this period, it was the money that was generated by the income rather than the expenses of the owners.

The £154m ($186m) in dividends and share buybacks taken out of the club by the Glazers over the past 10 years is more than seen elsewhere at any other Premier League club, and must also be compared to £684m. ($827m) that the owners of rivals Manchester City pumped into the Etihad giants en route to six Premier League titles.

When Roman Abramovich was still in charge, he raised £516m (£624m) of his own money to help Chelsea win a pair of Champions League crowns, and even much smaller Aston Villa , saw £506m ($612m) come in.

As their ‘Theatre of Dreams’ ground crumbles and badly needs a facelift, United’s net capital expenditure of £136m ($164.5m) is lower than Manchester’s City, Leicester, Liverpool and Fulham, while ten times less than Tottenham’s £1.4 billion ($1.7 billion) which also allowed residents of North London to move into a new state-of-the-art stadium.

Dissatisfaction with the Glazers is not only expressed by fans, but also by respected figures associated with the club, such as legendary former right-back Gary Neville.

After Brentford’s 4-0 humiliation on Saturday, Neville, in his role as Sky Sports pundit, launched into an impassioned seven-and-a-half-minute rant that saw him tear the club and its owners apart from start to finish.

“Right now it’s really, really desperate. There’s no leadership, there’s no voice. You can’t blame an individual player or the manager; you have to look above and look all the way up now,” Neville asked.

“This week, honestly, they’re going to be spiced up, those players, the coach, the athletic department and the new CEO. But there’s a family out there in America that literally lets its employees take all the hits for them and that is unforgivable.

“Joel Glazer has to get on a plane tomorrow, go to Manchester and he has to start and deflect the club’s problems, and tell everyone what his plan is for the football club. What does he do? “ Neville asked.

“When a business fails and it’s not performing, it’s the owners of that business. [who are to blame]. It’s really simple. It fails miserably. They took around £24m ($29m) from the club two months ago and they now have a decrepit and rotting stadium, which is, to be fair, second rate when it used to be the best in the game. world 15- 20 years ago,” Neville noted.

“You have a football club where they have no clue. They have bankers in charge of the football club who don’t make decisions about football. They haven’t appointed a sporting director.

“We can watch the players as much as you want, but there are so many important things that need to be sorted out first, they need to show up and face the music. Now is the time. They can’t keep going. hiding in Tampa and thinking that nothing is going to come back to them”, he suggested.

Pointing to other caring owners like City and Spurs, Neville said United, since the departure of Sir Alex Ferguson in 2013, “have proven they can’t run a forward-thinking football club.”

“He has been overwhelmed in all departments and it is painful and distressing. I was a footballer at the club and I would die for this football club.” Neville said.

“What I mean is that at the moment there has been a toxic culture and atmosphere created at the club over a period of 10 years, without its leaders Sir Alex Ferguson and David Gill supporting the club while the family sat in America glorifying the fact that they were part of it.

“Now we see what happened without those two and the leadership. It’s a mess and it can’t go on,” he added. Neville balked.

“The integrated failure over a period of 10 years of the club’s current situation must return to ownership. I blamed [former chief executive] Ed Woodward for a long time, but the reality is that the Glazer family left him behind when he shouldn’t have been left behind in charge of the football side. Ed probably would have done a good job commercially.” Neville agreed.

“They still haven’t dealt with the football operation. They still haven’t dealt with the players from the recruitment department. They still haven’t dealt with the stadium which is rusting and requires massive expenditure.

“United need a billion pounds over the next two or three years to rebuild or renovate this stadium. They probably need another 500 million pounds ($604 million) or 600 million pounds ($725 million). dollars) for the training ground and other infrastructure projects and football investments.

“They only have £40m ($48.3m) or £50m ($60.4m) cash left in the bank. They had £350m (at the bank a few years ago; they don’t have that money in the bank anymore. Something is going to have to give way soon, very, very soon,” he finished.

That same weekend, Neville also said it was a “a real feat” at “spend £1 billion ($1.2 billion) and be so bad!”

Next Monday United will return to action against bitter rivals Liverpool who they lost 4-0 and 5-0 in their last two Premier League meetings, with another defeat likely to add further misery to the red half. from Manchester.


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