Let me first say I abhor the method by which United was purchased, but I am also a pragmatist. I have been a United support for 60 years, seeing the good and bad times and I prefer the good.
So you get the Glazers out, what next? Even if the value of the club is depressed by all the actions. The proposals ventured thus far will not fly. You can protest all you want about how the Glazers bought the club but you have to deal with reality, we are a club valued at £4B with debts of £500M and squad and infrastructure which needs expenditure of £1B plus. There are indications that the TV and sponsorship income has maxed. The Glazers have to achieve maximum value for shareholders on any sale, otherwise they may face class action in the US. Anything they do to devalue the shares will be taken to court. So what are the options put forward thus far?
NEW OWNERS, where are all these people who love United enough to want to take on that level of debt or problems. There are not many rumours about people queuing up to buy United. Even the Saudis, which some people don’t want, think Newcastle is a better bet. Otherwise we could be bought by new business men. Bear in mind that depressing the value might seem a good idea but it also may attract venture capitalists. See where you are then.
50% plus fan ownership. Even with a depressed value, fans will have to find £1B plus. That is a million fans putting in £1000 each. Not going to happen. Even if it did the problems still remain of the debt and development requirements. The Government will not legislate for 50+1. Most other clubs don’t want it, the Government will not pay off the owners, and they do not want to set a precedent that shows that post Brexit Britain has a business intervention policy. They may bring in a football club regulator and some fan representation, but that will have little teeth. No meaningful legislation will come about which would take United back to the top.
MUST proposals. Whilst a very laudable set of proposals, will never fly, because it assumes that the Glazers will sell part of the shares at a preferential rate. More shares on the market mean the value of current shares will devalue. As said previously, Glazers will be taken to court by existing shareholders.
Some people are willing to let United fall for a supposed better future, tell me where are some of the great clubs of the past and have they got back from a fall. Leeds, Nottingham Forest and Aston Villa are examples. Arsenal are a more modern day example. If you see your club fall be prepared for a bleak future.
So what is the solution? I proposed the other day a possible win/win solution, which as usual got criticism but no alternative realistic option. That was for all parties, owners (maybe the Glazers), Council and Government to work together to develop a NEW TRAFFORD. See my previous posting for details. It may not fly for many reasons. As in life we need a solution which all parties can live with.
The protest have a value but there is also a time to walk away and work with people.