Monday, June 13, 2005
Glazer's plan for Man U
The London Times got a hold of documents that purport to detail Malcolm Glazer's business plan for Manchester United. The main details:
On a side note, this story broke on Friday. I headed over to the Times' football section, but it was nowhere to be found. Instead, it was deemed page one material. Football sure is important over in merry ol' England.
Manchester United ticket prices are to rise by 54 per cent within five years, under plans by Malcolm Glazer, the club’s new owner, to boost club revenues to £246 million by 2010.Further analysis from the Times, here and here.
Previously unseen documents shown to The Times indicate that the American tycoon is also planning to increase the cost of attending Champions League matches by as much as 25 per cent from next year.
The plans are likely to fuel fears that United ticket prices will move beyond the reach of ordinary fans, and come as the Office of Fair Trading considers intervening in Mr Glazer’s £790 million takeover to protect United followers from what might be soaring prices.
...The documents also indicate that Mr Glazer is likely to have agreed a deal with the bankers that could make it difficult for United to sign more top stars such as Wayne Rooney, who cost them £27 million. Under the terms of the debt contract, the amount of money United have to spend on transfers has been set at £25 million a year, excluding receipts from player sales, over the next five years, although a further £25 million in total can be spent over that period.
On a side note, this story broke on Friday. I headed over to the Times' football section, but it was nowhere to be found. Instead, it was deemed page one material. Football sure is important over in merry ol' England.
