Just a few days after announcing the biggest shirt sponsorship deal in English football by signing a four-year contract for £56.5m with US insurance company American International Group, there is now talk of Man U going into the mobile telephony business.
Thats right. Man U will be selling specially branded mobile phones and eventually take over providing the service too. Man Utd already runs a financial services and credit card arm, which is highly profitable.
Here is what is happening: Bottom Line: The club’s relative failure on the pitch in recent seasons has cost them tens of millions of pounds in lost revenue. United was recently overtaken as the world’s richest club by Real Madrid. The club’s profits fell by £12.3m to £46m in its 2004-05 financial year.
So tell me when will this madness end? Man U is now not just football, its a financial conglomerate. With the football division losing money enough to make attracting new players difficult, the management is making Man U a one stop store. You may not care about football but you can come away with a credit card, a mobile phone, and a mortgaged house. Glazer is just a greedy corporate raider who cares very little about soccer and even less about Manchester.
The Guardian has more
54 comments on “Glazer’s ownership is taking its toll on Man U”
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