MALCOLM GLAZER DEAD

[davek]

Errrm theoretical question what happens to everton if kenwright carks it?

The biggest wake seen in history using the Other Operating Costs cash.

 

[ToffeeDan]

R.I.P

Didn't realize he was 86.

Neither did Sky Sports News apparently.

 

[Mikey_Fitzgerald]

RIP to him

Doubt this will effect Man United too much. I think his sons were doing most of the work anyway

 

[rascal]

I certainly won't be saying 'RIP'. His kind are a cancer on our nations football.

In addition to the actual £525m debt dumped on the club's balance sheet straight after the takeover, it is estimated around £696m has been spent facilitating it, through interest payments, bank charges and debt repayment.

United have gone from being the richest club in the world to the one that owes the most money.

http://www.bbc.co.uk/sport/0/football/27614221

 

[peteblue]

I hear his family have bought the undertakers and loaded it with the debt.........

 

[potato]

a glazer always pays his debts

 

[njligernj]

http://www.bbc.co.uk/sport/0/football/27614216

R.I.P.

Will be very interesting what this means for the future of Utd.

Wonder if the sons will sell the club now?

I sincerely doubt it ... as I understood it the kids were the ones who wanted Man U and pushed for the deal.

HOWEVER ... my selfish hope is that the kids will want to sell the Bucs. There is a new salary cap in the NFL which forces them to spend money so they can't continue to steal money away from my (american) football team in order to help finance a rival (english) football team ... so maybe they will lose interest.

I don't care about Man U obviously but Malcolm was great for my Bucs. He started getting sick over the last 5-10 years and had to take a backseat with the Bucs and that's when things really started going to hell in terms of hiring the cheapest possible players and coaches because the kids only cared about Man U.

I'm sad to see him go. He annoyed Man U fans and he won my team a SuperBowl ... not much not to like from my perspective. When we won he wasn't one of those weird owners who don't seem to care all that much ... he seemed genuinely over the moon happy:

I get that the method of the Glazers takeover of Man U is something I should hate (and I do) ... but I am happy to blame the "kids" for that. RIP.

 

[Garrick]

Really? That's amazing. Why would the selling organization ever agree to it?

Obviously buy a football club has its own set of rules, but it happens all of the time.

If you're familiar with Pabst Brewing Company at all (makers of Pabst Blue Ribbon), that's exactly what happened to them. They were a publicly traded company with a very small debt load. They got bought up to be used as a stashing place for debt and it sunk the company.

There was a big stink about it during the US Presidential election in 2012 too because it was a common practice of Mitt Romney's private equity firm Bain Capital. Buy up otherwise healthy company, and then use it as a dumping ground for toxic debt after the deal has been signed off on.

Generally, the sellers in this situation either

A. Have no control over it (publicly traded)
B. Don't know it's going to happen, or
C. Don't care, because they're getting their payday through the deal, what happens afterwards is of no consequence to them.

 

[matty1878]

Rip think of his family people.

 

[neville]

Oh I dunno, to buy an organization, then dump all the costs for buying said organization onto the organization itself is remarkable. I can't quite understand how they ever got away with it. £650 million that stunt has cost United.

Good point its shocking and completely wrong

I [Poor language removed] hate the Glazers with a passion

That said unlike some I refuse to glorify the death of an old man who is some ones father / grandfather

RIP

 

[roydo]

Good point its shocking and completely wrong

I [Poor language removed] hate the Glazers with a passion

That said unlike some I refuse to glorify the death of an old man who is some ones father / grandfather

RIP

Appreciate your dislike of him @neville , and your final sentence is just one reason why you are so welcome on GOT.

Just watch the language eh?? Cheers.

 

[Raymondo077]

Good point its shocking and completely wrong

I [Poor language removed] hate the Glazers with a passion

That said unlike some I refuse to glorify the death of an old man who is some ones father / grandfather

RIP

This^^^^
RIP Mr Glazer.