By Kabelo Mollo
I recently landed myself in a spot of bother with “The boss” (my lovely wife). This, after I was casually listing my bucket list items and included my desire to own dual season tickets at Old Trafford for my boy and I. I had no riposte when she chided me and enquired where she was to sit. I still don’t. That notwithstanding, I wish to make a declaration of the subjective fact and that is, Manchester United is the greatest team in the world. It is for this reason my son will grow up a United fan and ultimately be a season ticket holder alongside his dad. Perhaps when the said son is grown he can purchase his mom a season ticket too.
The same Manchester United has been the subject of many headlines this past week. The current owners of this mighty institution (The Glazer family) have finally decided to sell this great brand-and not a moment too soon-thus bringing to an end a thoroughly lecherous two decades of degradation. Having saddled the club with debt and interest payments for the duration of their stay in the Premier league, they have halted the progress the legendary Sir Alex Ferguson had mastered during his tenure as manager. It has been the worst of times under the Glazers as they continuously took dividends form a club that otherwise would have been completely self sustaining with the profits made of football and commercial operations. They have bled the club dry and now put it on the market with the hope of earning the toppest of top dollar. Yet one more reminder that capitalism has its fundamental flaws no matter how we chop it up.
With the Glazers having put this shining star of global football on the shop floor, suitors have shown the interest. The sheer magnitude of the club makes it such that very few institutions or people can afford it. One would need extremely deep pockets to purchase around five billion pound sterling worth of Manchester United PLC. That would include the Glazer inspired debt, their 69% stake in the club as well as presumably the remaining institutional and nominal investors who own the balance of the shares. To this end Sir Jim Radcliffe’s Ineos as well as Qatari Sheik Jassim have emerged as the two leading candidates to complete the purchase of the Red Devils. Jim Radcliffe is a British billionaire who has made his money in petrochemicals and diversified his wealth in to a number of portfolios. He’s a born Mancunian and lifelong United fan. Many have and continue to argue that he’s the perfect owner for our club. In his brief statement he promises Ineos will absorb whatever existing debt the club has and will incur owing to the sale. He says he’ll put the Manchester back in Manchester United (whatever that means) and that he will reinvest the club’s profits back in to the football team. A thrilling prospect with the exception maybe of the somewhat inflammatory comments about the Mancness of the club.
Sheik Jassim offers something even better than that. Using personal wealth as opposed to that of the state of Qatar, he intends to buy out or pay off any and all debt the club has incurred. He intends to build a new training complex, rehabilitate and perhaps even build a new ground that’s worthy of a club of United’s stature. He too will ensure all profits will be reinvested in the club, while he will also be prepared to make “significant investment” in the event the club needs it. Presumably, that means no player will be too expensive for United.
The British media have interrogated Sheik Jassims bid with the sharpest focus. The phrasing in some of the reportage gives away a clear bias though I have seen many responses that aim to rubbish the mere mention of bias. All the journos are claiming objectivity while also encouraging the public to be circumspect where so much money is concerned. It interests me that so many media houses have done deep dives in to the background of Sheik Jassim while taking Sir Jims story at face value. There is a latent bigotry at play, and too many are brushing it as off as simple chasing of facts.
It is my sincere hope that the reporters and media houses will do a spot of introspection as they continue to bring us the latest on these events. On a personal note, I hope Sheik Jassims bid is successful if only so we might be rid of the bloodsucking Glazer family. In a perfect world, United wouldn’t need either Radcliffe nor Jassim, but this is not utopia and we must do what has to be done.
