Mickey,
Haven't followed it that closely to be honest but the part from Reuters above is one of their main objections I believe.
Quote:
|
Glazer, the owner of American football team the Tampa Bay Buccaneers, and his sons Avi and Joel plan to heap up to 300 million pounds of debt on to the club's balance sheet, and raise the remainder of the cash themselves.
|
They don't actually have enough cash to take over Man Utd! They have some but as mentioned above, they are going to stick £300m of debt on the clubs balance sheet. That has to have some impact on share performance, ability to buy future big names and so on. Its probably easier going to your bank and saying "Give us £25m for Rooney" when your debt free than when your £300m in debt.
Quote:
|
The 15-times English soccer league champions, home to star players Wayne Rooney and Ruud van Nistelrooy, is debt free and has argued that it needs this flexibility because failure to qualify for the European Champions League would wipe out its annual pre-tax profits.
|