LewLewBecks
Member
- Joined
- Feb 18, 2009
- Messages
- 4
- Reaction score
- 0
- Points
- 0
The Manchester United owner, Malcolm Glazer has today announced a freeze on all transfer activity for 3 years as they look to claw back the huge debts the club has amassed. This will no doubt anger all the Manchester United fans as they believe that their club should be home to the world’s greatest stars and now, for at least 3 years, that won’t be possible. The Glazer family who bought the club back in May 2005 were not greeted with open arms as many of the united faithful held aggressive protests against their takeover. To finance the takeover of Manchester United the Glazer family took out a bank loan estimated to be in the region of £600,000,000 a bank loan that needs to be repaid as quickly as possible otherwise the club will be in a total mess. It’s due to this massive bank loan that the Glazers have taken such drastic measures in freezing the clubs transfer activity for 3 years as they look to balance the books.
The Glazer’s representatives had this to say, “The Glazer family have today announced that Manchester United football club will not partake in any transfer activity for 3 years with immediate effect. However the Glazer family believe this will not hinder the clubs success as the clubs current crop of players are to a high standard and we have some of the most exciting youth prospects in the world. “
Sir Alex Ferguson had this to say, “I completely understand the owners decision in freezing our transfer activity as the clubs finances need to be well balanced in order for the club to progress forward in the years to come. I have total belief in my current squad and fully believe they can challenge both domestically and in Europe. I also believe our youngsters will prove their worth over the next 3 seasons.”
