In August 2005, in the first leg of Manchester United's Champions League qualifier against Debrecen, Rooney led the team in the 7th minute of the opening. A few seconds after the goal, such a confusing question was raised in the Manchester United director's box.
"It was said at the time:'This ball-what's the matter with it?'" said a former Manchester United executive mimicking an exaggerated American pronunciation.
This is the first time the Glazer family has appeared at Old Trafford after completing the seemingly pathological acquisition of Manchester United a few months ago.
The three brothers Joel, Ephraim and Bryan not only appeared in the Dream Theater as Manchester United bosses, they also obviously brought a new way of thinking. Bryan is the kind of person who speaks out about everything, especially Rooney's goals. When possible, he is capable of marketing.
"In his opinion, in baseball or American football,'they must have a lot of games with the ball as a backup', so when there is a home run or touchdown, then the ball will have a special meaning (such as Said it can be directly gifted to the audience, etc.)", the executive continued.
"But there is no such concept in English football. I think CEO David Gill's answer is the most appropriate:'They will put the ball back where it was and we will continue the game.' Everyone's faces are confused. We are confused. Really very at a loss. People didn't laugh at them, just don't understand why they have such thoughts.
"This shows two things: first, to run a football club, you need to put yourself in the local area and understand the relevant cultural background; second, these people should have considered various possibilities (before they acquired Manchester United)."
Considering all the possibilities is the first consideration when the Glazers deal with club issues. Financial leveraged acquisition strategies, unusually dazzling interest rates, and hundreds of millions of debts are beyond the eyes of people, including many financiers.
However, the Glazer family, under the leadership of their father Malcolm, has embarked on a path of capital expansion in the past 15 years and has now reached its peak.
On May 26, 2005, Manchester United’s board of directors expressed their intention to sell all their shares to the minority shareholders and suggested that they do the same. The resistance encountered by the Glazer family in acquiring the Red Devils disappeared for most of the time.
In this article, we will trace the behind-the-scenes stories that led to this unprecedented acquisition and explore the true state of Manchester United over the years. The contents include:
· The Glazer family spent 270 million pounds to complete a leveraged buyout with a total value of 790 million pounds. Since then, the Glazer family has personally received nearly 200 million pounds from the club.
· After they began to take power, Manchester United has carried out drastic reforms in its business development strategy. On the one hand, it has brought huge profits, and on the other hand, it has also led to the departure of some executives. But now this development idea has Imitated by many clubs
· Before Etihad Airways became a close business partner of Manchester City, Manchester United almost let their logo appear on their jerseys
· Although Glazer’s 6 children are on the Manchester United board of directors, Joel is the “boss” in the true sense. He will deal with Manchester United’s affairs in the office in Washington for 8 hours every day-it is worth mentioning that he There is also a huge portrait of George Best in his office
· Joel approved a series of transfers after recognizing the value of signings and believing that Solskjaer was building a team aimed at success
· The Glazer family hopes to be able to manage Manchester United for a long time. Some sources said that they were only prepared to sell 20% of the shares in their negotiations with Saudi Arabia last year.
· At the beginning of the completion of the acquisition, the Glazer family had hoped to fully renovate Old Trafford Stadium, but it is generally believed that the reason they do not do so now is because it has no economic significance at all
· Almost no buyers worldwide can meet the requirements of the Glazer family
· Under the Glazer family, Manchester United’s costs, including interest, debt and other expenses, totaled £1.5 billion
On May 26, 2005, on the same day, the chairman of Manchester United Sir Roy Gardner and the two non-executive directors Ian March and Jim O’Neal resigned successively. This also indicates that the club will be financially Suffered a huge blow.
Just 11 days ago, when Sir Alex Ferguson spoke with a special Manchester United fan, it sparked a discussion around another resignation.
就在11天前，弗格森爵士（Sir Alex Ferguson）与特别的曼联球迷讲话时，引发了关于另一辞职的讨论。
Andy Walsh is a member of the Independent Manchester United Fans Association (IMUSA). After the Red Devils defeated Southampton in the final game of the league, he threw a "Wanfuma" to the coach who has won the most championships in British football. Leah’s proposal (Annotation: Hail Mary usually appears in American football, referring to the fact that when the game time is about to run out, the lagging team uses a desperate long pass in the final attack to score a touchdown) .
"I called Ferguson and suggested that he consider resigning," Walsh said in an interview. Before this happened, there had been many conversations between the two, so the relationship was not unfamiliar. Walsh said that Ferguson pays attention to detail and honesty.
"He believes that fans should have heard about the club's possible acquisition before," Walsh said. In November 2004, Ferguson said in an interview with a fan forum: "We don't want the club to fall into the hands of outsiders."
However, just 6 months later, the Glazer family strengthened their control of the club, and their operations made people increasingly believe that only certain dramatic events can interfere with their success. "This is our last chance," Walsh said frankly. "But there is a theoretical possibility.
"This is a highly leveraged acquisition, and many well-known financial companies have chosen to avoid their acquisition plans," Walsh said.
If the acquisition is successful, then this will mean that Manchester United, which has never been in debt since 1931, will be burdened with 580 million pounds of debt, including a certain risky physical payment note, which means that the Red Devils will be affected by the acquisition. In the first year, interest alone would have to pay as much as 63 million pounds.
"We felt that if Ferguson and Jill were lost, they would suffer a fatal blow."
Some Manchester United fans, including Walsh, had tried to jointly acquire the Red Devils with some Manchester United shareholders and Nomura Securities. In a way, Walsh is an idealist. "If the trade fails in the end, then Ferguson will be carried back to the court by the fans," he said.
But he is also a realist. "Ferguson rebuffed me politely. He believes that the responsibility he bears is not only on himself and his family, but also closely related to the people who brought him to Old Trafford and the people who worked with him.
"We hoped that he could take a big risk at the time. We could not give him any legally guaranteed promise.
In short, we believe that the club should be owned by fans, not others; in our view, those people want to use the club to drain their own interests. This is the point I made when I called Ferguson. But I also fully respect and understand his decision. "
Subsequently, the fiercest equity battle in the history of British football also came to an end, and finally ended with the Glazer family taking over Manchester United. Malcolm Glazer joins his six children on the Manchester United board.
Some diehard fans are full of dissatisfaction. Some people even chose not to return to Old Trafford, but to start the United Manchester Club.
In 2010, a group of wealthy Manchester United fans established a fan organization called Red Knights. They launched a "green and gold campaign" aimed at "retaking" control of Manchester United. The move also received enthusiastic support from the home fans. However, due to the attention of the public, the Red Knights lost the possibility of secretly launching the acquisition, which caused the Glazer family to raise the asking price for the acquisition.
And this year, because the club once seemed to have no possibility of signing in during the winter transfer window, the fans again sang the board of directors fiercely.
In the games against Norwich, Burnley and Tranmere, we can all hear similar protests, and even fans attacked Woodward's villa with fireworks.
Scenes like this are exactly why some former Manchester United executives accepted The Athletic interviews anonymously. In October 2004, Maurice Watkins, the secretary of the Manchester United club, was painted with red paint when he sold his 2.5 million shares worth of Manchester United to the Glazer family.
像这样的场景正是为什么一些前曼联高管匿名接受《运动》采访的原因。 2004年10月，曼联俱乐部秘书莫里斯·沃特金斯（Maurice Watkins）将其250万股曼联股票出售给格拉泽中国竞猜网首页家族时涂上了红色油漆。
These executives naturally remember this event still fresh. But maybe one day, the statue of Malcolm Glazer will also be erected in the west stand of Old Trafford.
这些高管自然记得这次活动仍然新鲜。但也许有一天，马尔科姆·格雷泽（Malcolm Glazer）雕像也将竖立在老特拉福德（Old Trafford）的西看台上。
On June 29, 2005, when Joel, Ifram, and Bryan visited Old Trafford for the first time, a similar feeling came into being.
Some industry journalists still remember that hundreds of angry Manchester United fans were surrounded by the exit of the stadium. This frightened the Glazer brothers and they finally had to leave the stadium under the escort of a police car.
However, the Glazer family still believes that such a bet is worthwhile.
According to the latest statistics, their dividends from Manchester United are about 84 million pounds, and the club’s listing on the New York Stock Exchange also brought them 75 million pounds in income, plus other companies during 2005-12. In total, the Glazer family used Manchester United to obtain about 200 million pounds of loans and income from the sale of shares.
The club’s dividends are paid twice a year. In January this year, Manchester United shareholders received £11.3 million.
As the majority shareholder of the Manchester United club, the Glazer family owns 78% of the shares, and the six siblings shared the 8.8 million pounds of dividends received by the family in this period of dividend.
Although the epidemic crisis has had a huge negative impact on football, Manchester United also paid a dividend of $0.09 per share on June 3, which is some kind of windfall and can also explain why Manchester United did not delay the payment. Salary is on the agenda.
Manchester United has never allowed employees to take vacations (to obtain government subsidies). But they still accepted the government's inclusive policy, which is to delay the payment of 10 million pounds of value-added tax for one year;
At the same time, they also seek to use 36 million pounds to buy back shares to stabilize the stock price in this uncertain period. However, the club has no plans to distribute further dividends at this stage.
The quarterly performance statement released in late May showed that Manchester United's net debt has risen to 429 million pounds, which is mainly due to the team's purchase of Maguire and Bruno Fernandez. The club’s dollar debt remains at the level of 650 million US dollars (about 530 million pounds).
In the era of the Glazer family, with the dramatic increase in television dividends and commercial income, Manchester United's transfer expenditure and player salaries have set new records.
However, since Sir Alex announced his retirement in 2013, the Red Devils have never truly become a contender for the Premier League title. This also makes people question the club’s ability to use funds to succeed in the field of competition.
The problem is not only that, it is also about their intention to sell the club.
This season we have heard that Saudi Arabia may become a shareholder of Manchester United, but in the end the Middle Easterners shifted their goal to Newcastle. In an interview with The Athletic, some investors believed that as the club’s worth continues to rise at the level of billions of pounds, the scope of potential acquirers will only become smaller.
"Everyone underestimates how much the bosses value Manchester United," said a former Manchester United executive.
"I can be sure that in the past there were some people who were prepared to spend money on acquiring clubs, but at a high price. This is not only because they all want to maximize their returns, but also because being the Manchester United owner means a lot. ."