So the Red Knights are attempting to ride into Old Trafford on a crusade to apparently save Manchester United from the American cowboys that have slung one of the world’s biggest football clubs into a £700million debt.
The Glazers are reluctant to sell. Mainly because they bought United for one reason, and one reason only - to earn a profit - but they have been unable to do so yet because of the global recession.
Therefore, in any normal business sense, it is too big a loss to ‘cut and run’ yet so they are prepared to ride the proverbial storm until they can potentially reap the rewards of the huge financial risk they took to take the club off the stock market in 2005.
January saw Red Football Ltd, the parent group of Manchester United FC, announce a huge £700million debt that sparked an outcry from Reds fans who were led to believe that the deficit had grown by £200m from the £500m figure that was mooted about when the Glazer’s purchased the club. In fact, the figure has never risen, in fact it has dropped, not by enough but it has.
The ‘Green and Gold Until Our Club Is Sold’ campaign begun and has been of relative success – making a point to the owners that the fans are not happy but also still getting behind the team.
I agree that the Glazers need to be pushed out to secure the future of United as the large debt they have amassed, along with their hit and miss success rate in business, has left the club in a precarious position.
However, are these ‘Red Knights’ the people that can pull the club out of their poor financial state? What are their intentions? Have they got the finances? Will they be able to continually strengthen the team?
These are just some of the questions that fans need to ask before giving them their support and backing them.
Supporters will also have to realise that while these Knights in red shining armour, who are out to rid the club of all things Glazer, claim to be lifelong United fans, if they get invest heavily into the club then their business heads will be put on straight away.
They will be successful business men if they have the cash to stump up an offer for one of the biggest football clubs in the world, thus they will have all the attributes that go with financial success including ruthlessness and the constant want for profit.
So those fans who are thinking that because the ‘Red Knights’ wear the red shirts they will automatically do what every fan wants, think again. Don’t think they won’t raise ticket prices. Don’t think they will buy Kaka. Don’t think they will drop the price of merchandise. They will do what is best for their pockets.
If they have the financial muscle to provide what United fans want then they will be good for the club, there is no doubt about that.
The main worry I have with this consortium is Keith Harris being in control. The financing wheeler dealer who shares the name with the ventriloquist famous for the Orville The Duck puppet has been sounding like a muppet.
In January when the news broke of the apparent increase in debt, Harris was straight in heaping blame on the Glazers and calling for the fans to protest. He also claimed that a group was already set-up to look at a bid to buy the club.
More recently, when Harris spoke out about the ‘Green and Gold’ campaign, he called for fans to do more and start boycotting games.
Boycotting games? Stop buying merchandise? Why? Isn’t it starkly obvious? Harris is trying to remove some of the prestige around the club so that the Glazers will look to sell and at a lower price. Harris seems to be more of the ‘Green and mould’ campaign.
United fans have to remember that the club is not like Manchester City or Chelsea who have been made mega-rich by the owners.
Granted the Reds have always had a strong financial backing that is more than most other clubs but the brand of the club, and the success in the stock markets, was built on the 90’s domination of English football that made United a world renowned successful club that was attractive for investors and sponsors.
Why should fans who have spent a lot of money on season tickets, who enjoy going to a game at the weekend and who have built their social lives around football just stop going to games? It won’t make any difference to the Glazers.
Ticket revenue makes up a fractional amount of United’s huge profits. Sponsorship and merchandise sold worldwide is what brings in the big bucks.
United need continued success to ensure that the sponsorship keeps coming. If fans start dropping off from going to support their team, apart from being unfair on the players, it could also have an effect on results on the pitch.
It seems to be that Harris, who played a pivotal part in the takeovers of Manchester City, West Ham and Aston Villa, has seen the money signs ringing again and has jumped at the chance of adding to his fortune.
He may be a United fan but as mentioned above, he’s an experienced business man and financial success will come first for him.
The Glazers need to go but Manchester United supporter groups should be wary of who they back in a bid to buy them out.
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