Home > Football > Learn from Liverpool and Manchester United - act now to save YOUR club
Learn from Liverpool and Manchester United - act now to save YOUR club
The two north-west giants have both fallen to leveraged buyouts, while mismanagement at other clubs leads to relegation and worse. Supporters need to be acting now to prevent disaster hitting the team they love.
by Claire Bee on 22 April 2008
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There are many ways in which supporters attempt to quantify how much they love their team. Some do it by talking about the number of matches they attend, others by how far they have travelled or what they have sacrificed to be there. How much money they spend is a common one, or there are simpler but more permanent tributes such as tattoos.But here is the real question - if your club was in real trouble, would you put your hand in your pocket to save it? Yes? I thought so... but while you are thinking about that, consider this. By the time you are taking your purse or wallet out, it might well be too late.History is useless unless you are willing to learn from it, and the time has come for supporters of all teams to learn from events up and down the country and at the nation’s two biggest clubs.' 'Supporters forming trusts to buy clubs can and does work. But to be taken seriously the trusts need to be in place, with the required finances ready to make a bid as soon as the current owner wishes to sell'Liverpool and Manchester United have a lot more in common than either set of supporters would ever dare admit. Both have been hugely successful through the years, both command large loyal followings and now both have fallen victim to a leveraged buyout which has resulted in millions of pounds worth of debt being placed on the clubs - a debt solely acquired to enable their new owners to purchase them! The net benefit to the supporter is nil, but the net cost is repaying that debt (plus interest), along with a healthy profit for the directors.In both instances groups of supporters responded by trying to raise the capital to buy the clubs themselves but despite being the two best supported teams in the country both have failed (OK, the Liverpool attempt hasn't failed yet but the chances of success are slim at best).
Comments (2)
on April 22, 2008 on April 22, 2008
Despite what people say about the Glazers I honestly feel they are they for United, they won't let United slip. United might be on a far bigger scale but look at the work they had done with Tampa Bay. Explains why Tampa fans are baffled about United fans bad reaction. Doubting them is going to help anyone. Good article - Smaller clubs must be wary. Debts of such scales could tear a club to shreds!
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