tag:blogger.com,1999:blog-487486960623783530.post1977941680588585943..comments2024-02-29T09:58:18.342+01:00Comments on The Swiss Ramble: Manchester United - What Difference Does It Make?The Swiss Ramblerhttp://www.blogger.com/profile/11423088862174893998noreply@blogger.comBlogger11125tag:blogger.com,1999:blog-487486960623783530.post-73397183463229831852016-07-28T04:23:03.245+02:002016-07-28T04:23:03.245+02:00Really interesting but very complex as I am a tota...Really interesting but very complex as I am a total noob about finances etc but have always been proud of Arsenal as they wont go down the same path as Leeds and Pompey etc.<br /><br />Is it possible for Man United to go down the Leeds route if they don't always get in the top four etc? I personally believe that the glazers have been riding on the coat tales of the Ferguson era with regards to how strong the brand was but now that Man U won't be winning as often and are barely making it into the top four will their commercial revenues continue to decrease and will the debt become to burdensome? What will happen if they end up like Liverpool and don't win much for years and years?<br /><br />Again really great article, you really seem to now your stuff.Anonymoushttps://www.blogger.com/profile/05411920533802977456noreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-2335406516057344062015-10-11T20:54:46.351+02:002015-10-11T20:54:46.351+02:00Manchester United still need some strong players f...Manchester United still need some strong players for the good defence and they have to bring like some Dani Aleves Man Utd Football Club Fanhttp://thesportsmetro.blogspot.com/noreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-30723462713064845432015-10-05T15:22:00.370+02:002015-10-05T15:22:00.370+02:00I think it comes down to many of their supporters ...I think it comes down to many of their supporters being the CEOs and board members of Bavarian industrial giants.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-1469334696365006422015-10-02T04:40:01.534+02:002015-10-02T04:40:01.534+02:00Great piece, Swiss. So glad you're back to doi...Great piece, Swiss. So glad you're back to doing these: they are massively helpful to anyone trying to figure out the financial side of the game.jdwnoreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-87576865334952563212015-09-30T19:04:29.498+02:002015-09-30T19:04:29.498+02:00Is it possible that the reduction in staff is anyt...Is it possible that the reduction in staff is anything similar to what has happened at city. The only other thought I have is if not then wont it damage them going forward looking for more revenue or looking for cheap players after all its clearly not got much to do with playing and coaching staff and they must have to higher a certain number of people for safety reason Anonymoushttps://www.blogger.com/profile/03354712073044461181noreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-69517996870891328062015-09-30T11:38:53.309+02:002015-09-30T11:38:53.309+02:00So one difference is the €49m income they get from...So one difference is the €49m income they get from sharing the Allianz Arena - that should probably be excluded if we want to compare like with like. <br />But, given United's global fanbase, I still cant understand how Bayern can generate more than double from merchandising? Or perhaps this is just down to the terms of the old Nike deal and will now change with Adidas?<br /><br />anyway good article as alwaysAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-62021374782111211042015-09-29T19:20:53.889+02:002015-09-29T19:20:53.889+02:00On transfers: You're right about the technical...On transfers: You're right about the technical level becoming high. (It gets worse if you take the cash flow figures and adjust them for stage payments by using the one and two year figures in Payables - although the results are very similar to using the intangibles figures.) The salient point, however, is that, over the specific period 2006-2011, transferleague.com understates United's spending by approximately £100 million - not an insignificant error, and one used extensively to stir up United supporters.<br /><br />At that time there really weren't any alternative buyers and something needed to happen. (I should confess my belief that Roy Gardner was running the club into the ground - the stock price was more a statement about his mismanagement than anything else.) And I'm not sure how we'd have felt about a Russian or a Sheik (or, more importantly, how SAF would have felt about them). Overall, whether the Glazers or another buyer, I'm more than happy about the transition that has been wrought in United. Eight years of success on the field, financially healthy and now making quite a rapid (compared to post-Busby) transition from the SAF era.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-2437611470545880952015-09-29T18:35:50.370+02:002015-09-29T18:35:50.370+02:00This might help:
http://swissramble.blogspot.ch/2...This might help:<br /><br />http://swissramble.blogspot.ch/2015/02/bayern-munich-model.htmlThe Swiss Ramblerhttps://www.blogger.com/profile/11423088862174893998noreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-72324483250390902412015-09-29T17:57:16.185+02:002015-09-29T17:57:16.185+02:00I've always wondered how Bayern Munich can man...I've always wondered how Bayern Munich can manage to have a higher commercial revenue than Man Utd? Surely their kit deals, sponsorships etc cannot compete with United?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-56692138633112677092015-09-29T17:30:13.001+02:002015-09-29T17:30:13.001+02:00Thanks.
Good points/quibbles:
1. I don't thi...Thanks.<br /><br />Good points/quibbles:<br /><br />1. I don't think there is a perfect answer on transfers. Agree that the figures in the cash flow are the most accurate (and I do include these in the cash flow section), but they are impacted by stage payments, so would not necessarily reconcile with most people's views of transfer spend. I believe that additions to intangible assets is a possibly a bridge too far in terms of making the blog overly technical.<br /><br />2. Absolutely, the Glazers have done really well commercially with an innovative strategy (for football clubs), but, as you say, there is a good chance that other owners would have made similar progress.<br /><br />Not sure that I agree that an LBO was the only option for United. There are other ownership models out there: United's "noisy neighbours" for one! The Swiss Ramblerhttps://www.blogger.com/profile/11423088862174893998noreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-89787499836471087982015-09-29T17:01:22.972+02:002015-09-29T17:01:22.972+02:00As usual a spiffing good read. I've got a coup...As usual a spiffing good read. I've got a couple of quibbles.<br /><br />I don't understand why you use "transferleague.com" numbers. They don't map on to the financial years used in the rest of your analysis and, as you must know from your knowledge of United's accounts, they dramatically understate expenditures on player purchases (particularly for the period 2006-2011). Surely either the cash flow figures or the additions to intangible assets would make more sense.<br /><br />"There is no doubt that United’s commercial business has thrived under the Glazers’ guidance, but surely other owners with the slightest business acumen would have done much the same with a football club that the Glazers described as “the strongest brand name in the sports world.”" <br /><br />This is often said, but it remains true that the plc were particularly inept in this area and showed no signs of changing their ways. (Useful for the Glazers because it resulted in a stock price low enough to make the transaction possible - a few more signs of life and the price would have been too high.) And, while it is true that other owners might have been able to do almost as well as the Glazers, it's hard to see how they could have taken possession of the club other than through a leveraged buyout. I'm not clear why you would have expected the result of that buyout to differ in any substantive way from the Glazers'? It's interesting that, in an interview I think as early as 2001, Keith Harris had said that the plc had run its course and that United was an LBO waiting to happen. (He also said that he was not interested in a role in running the club - he just wanted the commission from brokering the deal.)Anonymousnoreply@blogger.com