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Utd continue to brief on the prospects of multiple signings, yet the financial reality is that the Glazers have inflicted financial covenants on the club’s debt, meaning it has to show £65m profit for the previous 12 months, every 3 months.
In all their breathless reporting of prospective multimillion pound transfer deals, not one hack on the Utd beat had ever referred to this reality (if any were actually aware of it), despite it underpinning the club’s entire financial strategy.
A blogger reported it 10 days ago.
A blogger reported it 10 days ago.
It sat there doing the rounds on Twitter, but then yday something strange happened. The article will have been brought to Utd’s attention as a journalist was writing an article about it: https://mobile.twitter.com/lauriewhitwell/status/1309385500134965250?s=09
Entirely coincidentally, Utd suddenly started briefing about their financial woes: https://www.espn.co.uk/football/manchester-united/story/4190180/man-united-financial-losses-set-to-exceed-100m-due-to-coronavirus-pandemic
The original blog article was also suddenly disappeared. Perhaps the author believed his work was done, or perhaps there was some other (legal?) reason:
Utds overall financial picture now - unusually - won’t be made clear until after the transfer window has closed: https://mobile.twitter.com/samuelluckhurst/status/1308715230571233281
Back to today, and we’re just one small step away from “no value in the market”: https://mobile.twitter.com/sistoney67/status/1309417373078892545?s=24
It all seems a long way away from early April: https://www.independent.co.uk/sport/football/transfers/man-utd-transfer-news-ole-gunnar-solskjaer-jadon-sancho-jack-grealish-a9454536.html
Utd may well surprise everyone and find a way through to undertake that "market exploitation" referred to in April.
But no-one should pretend the Glazer debt doesn't remain an on-going handicap, over 15 years after the parasites turned up.
But no-one should pretend the Glazer debt doesn't remain an on-going handicap, over 15 years after the parasites turned up.
