UNITED

Record losses. Rising debt. Declining cash. Core business not performing. All despite United’s third biggest-ever revenue 🤔.



The worst season in 50 years on the pitch. United has major challenges. A long thread If anything condemns the muttonheads running the club, it’s this 👇 Highest net transfer spend, worst trophy count 🙄

From admired to a laughing stock, in 9 years.

AVRAM GLAZER became chairman of Innovate Corp two years ago. Yesterday's results show shares are sinking like a stone👇. He sold $95m of United shares in early 2021 to help him build a 29% stake in Innovate on which he has made huge paper losses. 🙄👉🗑️
uk.sports.yahoo.com/news/past-five… Well, well. 78% price drop in Avram Glazer's Innovate Corp. He owns 29%.

Manchester Ciddy's financial transformation was underpinned by commercial deals out of Abu Dhabi. This index of commercial revenue growth shows the scale of financial doping in plain sight Red News has been recording just some of it.

UNITED - “Playing performance doesn’t really have a meaningful impact on what we can do on the commercial side of the business,” said our former leader. True? 🤔 Let’s look at United’s commercial revenue from 2005-21 Three stages to the growth in United’s commercial revenue 2005-21 (£2.7 billion):
1. 2005-2010 Average growth 😐
2. 2011 - 2016 Well above average growth🙂
3. 2017-2021 Terrible 💩

The GLAZERS and MANCHESTER UNITED…17 threads. An interpretation of events covering:
- £1.4 billion transfer spend
- tax avoidance (not illegal)
- "disintegration of Old Trafford"
- the 2013 squad
- 2nd biggest debt in Europe
- sale of 52m shares for $814m
- exec pay; and more👇 @RedIssue
@tragicgolfer
@NoPrawnSarnies
@BanditBus
@AnthonyTWilson
@coggie99
@BPete1970
@PeteMolyneux
@paulenglish1961
@oldnagshead
@Malachians
@barneyrednews
@KieranMaguire
@GNev2
@DTathletic

1/9 Man United: “The owners need to sell the club, they’ve let the ground disintegrate, they’ve let the training ground disintegrate.. We are now a second class club in our country, this was the greatest club in the world, not just England.” @GNev2
A thread 👇 2/9 Why is Old Trafford and Carrington a mess? Football finance analyst @SwissRamble says United, “only spent £118m on infrastructure in the last 11 years.” 👇But when you break it down it’s worse. 🧐

1/10 A story of debt, taxes and public services👇 2/10 You and me have to pay tax to fund public services. How much has Man United paid in the last 16 years? 2005 and 2021, a minuscule net £31m in cash, or 0.5% of revenue (£6.3 billion), 4.5% of operating profit (£688m). 👇🧐

1/11 In the last few years, the Glazers sold 52m shares raising $814m. How is this linked to £773m of debt they placed on the club and to their own financial problems in the US? A thread. 2/11 The history of the debt is gruesome. 👇On takeover £558m. Then came the infamous PIKS, which rolled up capital and interest, creating £773m of debt by 2010 with average interest charges of £90m per year! Loan conditions were being broken. United was in crisis.

1/6 Despite all the incompetence at United, the five most senior executives have been paid £93m since 2013👇. Exec compensation has to be declared to the New York Stock Exchange. The five are not named in the US accounts but will include Woodward, Arnold, Baty plus two others. 2/6 However, from United's UK accounts we can see that that Woodward 🤡, received an incredible £23m since 2013, for his disastrous 8.5 years in charge. The highest paid executive in the Premier League 🙄👉🗑️

1/4 The absolute state of United's transfers since 2013. 👇40 players. £1.2 billion in fees. Add agents' fees and Premier League Levy and it's £1.4 billion. Our money wasted. Who's responsible? 2/4 And because United is so bad at selling, we have the second biggest net spend of any big Euro club (behind only Ciddy) 👇