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Old 18th May 2010, 10:09   #1
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Join Date: Mar 2003
Location: Cornwall
Posts: 130,989
Default Glazers have wasted every penny of our ticket money - and more

Glazers have wasted every penny of our ticket money - and more

Any supporter (especially Season Ticket holders) who wants to understand the Glazer problem in a really simple way - read this.

It really is incredible but the facts are there.

Since the Glazers took over they have wasted 437m in fees and interest - more than the TOTAL ticket revenue (398m) for the full 5 year period of their ownership.

So every single penny we have paid for tickets over the last 5 years has been wasted.

Every single penny we've spent on our tickets over their entire 5 year ownership - wasted

Or put it another way every one of us could have:

attended every match free of charge for the last 5 years .....

on top of that the club could have given every Season Ticket holder 700 in cash each .....

and the club would still have been no worse off!

And this doesn't even include the 700m of debt they've dumped on the club either.

How long are we going to let them keep doing this to us and our club?

If you're a Season Ticket holder tell us what you intend to do regarding renewal here.

Figures courtesy of "Andersred blog"

Professional fees 80m
Loss on closing interest rate hedge 35m
Cash interest paid 216m
Management and consultancy fees 13m
Loans to Glazer family members 10m
Rolled up PIK interest 83m

Total 437m

Ticket revenue 2005/06 to 2009/10

Total 398m

Total wasted 437m - total ticket cost 398m = 39m

39m divided between 56,000 Season Ticket holders = 696
Our lives begin to end the day we become silent about things that matter. Martin Luther King
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