Hello and welcome to Rob's Rant, my weekly blog about lots an lots of things that interest me.

Tuesday, 2 March 2010

How are Manchester United in debt?!

Ahhhh Manchester United, the club I have supported since I did PE with shorts that were way to big for me (According to my mum I'd grow into them!). But many things have changed since those heady days, especially in the Premier League, which has become the richest league in the world, but also has many clubs, which are in debt.

So my question is this.... how?! How are these clubs in debt?! Especially Man Utd, who somehow have been voted 3rd richest club in the world! Now I’m no Robert Peston, he has a far larger brain than I do, but how can you be voted the 3rd richest club in the world when you have over £700 million pounds worth of debt! Mr Peston if you do happen to read this please reply and explain to me how that’s possible, without using to many big words as I am only a lowly, mostly drunk, student. But seriously how are they in such amazing debt when they fill a 76,000 all seater stadium every week and receive so much money in sponsorship and from the Premier League.

All this has apparently arisen since the club was taken over by the Glazer family, but why would you buy a club to put it in debt? I’m sorry but to me that sounds like a plan that Baldrics cooked up.... What kind of idiot businessman would do that? Apart from maybe a banker that worked for RBS in the mid-2000's. It just doesn't make any sense to me, imean I know nothing about the business world but that type of debt on a football club just seems astronomical. How are the glazers planning on recouping over 700 million pounds worth of debt? Let go of a few cleaning staff and tell Fergie he has to clear his own bloody chewing gum up? Tell Rio Ferdinand he now has to buy his flashy suits from Primark instead of Armani because they’re slashing his wages? Unlikely I think.

On a more serious note selling the naming rights to Old Trafford has been banded about, like Newcastle did earlier this season. If that were to happen I would not only stop supporting Manchester United but I stop supporting football, because that really would be more proof that football really is more of a business that a sport. Imean how silly would the Tesco 'Every Little Help's' stadium, Manchester sound?

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