Liverpool Red Sox debacle is a lesson for Glazers
Despite the bitter rivalry which exists between the two clubs, Manchester United fans should rejoice that the Liverpool Red Sox saga has finally come to a conclusion. Those who say that it has nothing to do with us are wrong, the entire sorry mess has everything to do with English football as a whole and for United in particular. The fact that the two American carpetbaggers ended up losing millions instead of making the fortune they expected from Anfield should be a salutary lesson for the Glazers that unless they get out – and fast, they are likely to face the same financial disaster.
Granted, their arrogance may possibly give them an attitude that “It cannot happen to us” but what happened to Hicks and Gillett must give them food for thought – and they cannot possibly fail to notice the bitter aftertaste. As Liverpool chairman Martin Broughton frankly admitted “If you are leveraged, that’s bad for a football club” So there it was, the plain truth was finally told.
Managing director Christian Purslow backed up those words by saying “Far too much of that benefit currently services loans, interest costs and bank charges. I look for the day we are able to reduce our debt, freeing up our profits to be able to invest in players.”
The Glazers may think that Manchester United is a far bigger club than Liverpool with the ability to generate much larger profits. That may be true but it’s also a fact that their debts are much heavier than Liverpool was forced to shoulder.
If they had any sense, the Glazers will start looking for a way out now before they are forced to follow in the footsteps of the former Liverpool Red Sox owners, losing not only the millions they invested but every shred of their dignity as well.
Will the Glazers learn from the Liverpool lesson?