That is admirable (how much of this was being driven by Jim rather than being something other buyers were also putting forward though?) but then how much did he pay to first give Ten Hag a new contract and then sack them, then do the same with Dan Ashworth? Is there a need to pay the high ranking members as much as he does?
There have been so many more poor financial decisions that have taken place and have cost the club rather than giving free lunches to the lower wage staff.
I always struggle with posts like this. Because I’m never sure if it’s ill informed, wumming or blinkered. And what makes it worse is the vast majority of this stuff is public information (unlike a lot of clubs, we’re listed).
“admirable” The Glazers wasting over half a billion but Ratcliffe knocking £100m off our RCF (and other stuff) is admirable? Half a billion pounds gone in seven years, and not a single penny put in and for the first time ever, someone stops dividends, injects own money and reduces our debt/debt servicing costs. That’s not admirable, that’s a fecking lifesaver for a business that was close to running out of cash so would have failed, taken on more expensive debt or gone to some tw@ttish US fund who’d milk us for years. I don’t like any of those options t.b.h.
What other buyers? The imaginary bid from Jassim? Again, public information. Ratcliffe wanted to buy the lot/majority and was quoted $10bn.. market cap was about 4 I think, it’s under 3 now. Ratcliffe and his team have done more deals of this size (and bigger) than the Glazers could dream of, he doesn’t need to copy like some moron in a classroom exam.
Ten Hag would have got that compensation if we’d sacked him before, we didn’t give him a new contract, we took up the option with same comp terms. Was the decision flawed… yes, I think it was, did it cost us $s… no. Ashworth… absolutely.
What are the senior management paid? How much are the high ranking members paid? You’ll have that info yes?
The company I work for makes billions a year, it has never offered free lunches and the sector hasn’t since I was 18 on £4k/year. I’ve got mates in the motor industry, engineering, IT, aerospace, retail … none get free lunches or ever have, regardless of salary. It’s a media headline made in heaven for them and yet again, glosses over what the Glazers have done and why we’re in this situation making shitty decisions like redundancies. They’re PEANUTS compared to the goblins disasters, but that’s how you turn a business around.. you make savings and that includes tough/shitty decisions.
I could make a top ten of reasons we’re in this situation.. the Glazers would be all of them.
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Is Ratcliffe a multi billionaire… yes. Do people tend to like rich businessmen… not as a rule. Has he made some mistakes … yes. Are they in the same ballpark of ‘cost’ as the Glazers mistakes… not even 1%. Are most of these decisions a result of a decade+ of Glazer moronic mismanagement… absolutely.