Once upon a time, Rant mused that the Glazers might sell. Peter Lim, Chinese investors, and even the Red Knights were said to be potential buyers should the Glazers decide to cash-in on their prize asset. Conspicuous in its absence was Saudi Arabian sovereign wealth. If there’s any group that needs positive PR right now, it is the House of Saud.
[dropcap]F[/dropcap]inancially, Manchester United is the world’s élite club. A summary of finances for 2016-17 shows revenues totalling £581 million; larger than Real Madrid or Barcelona, Paris Saint Germain or Manchester City. Despite huge investments in terms of player recruitment, contracts and signing on fees, a profit of near £40 million was also achieved. Meanwhile, the projected revenue for the current financial year is guided to reach £575 to £585 million. Noisy neighbours Manchester City may have the backing of Abu Dhabi’s sovereign wealth, but it is United that still leads the way on commercialisation.
[dropcap]J[/dropcap]osé Mourinho should be the perfect manager for Ed Woodward and the Glazers, at least from a PR point of view. In recruiting the Portuguese tactician Manchester United, and Woodward in particular, hired a bona fide super-coach to bring success back to Old Trafford, as well as offering the marketing department a figure around which to build the club brand. Moreover, they appointed a human lightning rod, a character who demands the spotlight and sucks the oxygen of publicity away from everyone else. For owners as reclusive as the Glazers, Mourinho’s appointment ensures that attention is focused exclusively on the manager and not them. Or so they thought.
Manchester United’s owners, the Glazer family, will make the first move towards creating a global Manchester United sports empire this summer, with the acquisition of at least one, and perhaps three, overseas clubs. Reports in Florida overnight suggest that the Glazer family is deep in negotiations with clubs in Japan, Brazil and the United States about multi-million dollar acquisitions of up to three clubs.
Let’s face it, the Glazer family, esteemed owners of Manchester United, aren’t exactly the most popular lot amongst the fanbase. Their presence inspires a range of emotions from ambivalence to outright hatred. Yet, like it or not, the family doesn’t look like it’ll sell the club anytime soon. For the moment there’s no urgency to do so. The club is valued at over $3 billion and hoovers up money like a well-oiled machine, and even though it is public, the family controls the majority shareholding.
Friday, Manchester United’s executive vice-chairman/lightning rod/chief figure of fun (delete as appropriate) was ‘grilled’ by investors when he reported on the club’s financial results for the third quarter. Much like the ‘grilling’ in the second quarter there was little surprise that investor questions focus little on Manchester United’s on the pitch challenges.
How Manchester United fans have missed that feeling: late winning goals in huge fixtures such as the FA Cup semi-final. Anthony Martial’s superb winner against Everton on Saturday has granted the 11-times FA Cup winners another final appearance in May; a chance for a first FA Cup trophy since 2004. It begs the obvious question: if United secures the cup, and potentially fourth place in the Premier League, does Louis van Gaal have a future at Old Trafford after all?
Everybody hates Louis van Gaal, and rightly so. In the stands, in the press, probably even in his own house. After all, since the Dutchman’s appointment in May 2014 he has taken it upon himself to tear apart the Theatre of Dreams. Whether its analysis that insults the fans’ intelligence, or the insipid football on show, Van Gaal has successfully alienated the world’s biggest fanbase. Yet, it is not only mistaken to think that all Manchester United’s problems lie at the Dutchman’s feet, but naïve as well. The cancer comes from the top.
At the secret Glazer family money bank, Joel, Bryan and Avram proudly toast inking their latest commercial partnership. Joel strokes his wad as Avram preens, proudly sporting a freshly waxed pony tail. Bryan, known as the ‘fun one’, is busy celebrating United’s latest success by polishing his tractor.
It’s a slow news day when the headlines are less about Louis van Gaal’s failure as Manchester United manager, than Ed Woodward’s success as a financial architect. Yet, as United slipped from second to third in the Deloitte Football Money League 2016, the annual financial ranking of Europe’s leading clubs, there will be little concern in the Old Trafford Boardroom. After all – there is huge revenue yet to come, even if Van Gaal’s tepid side is just fifth in the Premier League. Read More