The Glazers, Ferguson & David Gill

All over the sports pages over the last few days have been the reports that Manchester United are in serious financial trouble after the takeover of the club by Malcolm Glazer (pictured above) and his odious little clan which was completed in 2005.

Now, I'm far from an economics expert (in fact I know sweet FA about economics). But I do know that if you can't afford something, you can't buy it. It's as simple as that. Maybe I'm too conservative, but I just don't think that racking up lots of debt is a good thing because you never know what's just around the corner.

The Glazers couldn't afford to buy Manchester United outright (or if they could they didn't want to) and so what did they do? They borrowed somewhere in the region of £650MILLION, secured it against the club and thus they were the new 'owners'. Now, since United were taken over they have won a hat-trick of Premier League titles, thus ensuring they've been guaranteed places in the group stages of the Champions League and all the money that that brings. They've won the Champions League and also come runners-up in the same competition, this done in consecutive seasons. They've even made profit on their transfer dealings. And yet, in the last financial year they only made a profit thanks to the sale of Ronaldo to Madrid for £80Million, having made a loss in excess of £40Million in the year before.

Now there are reports that the Glazers could take out up to £130Million from the club next year, and anything up to £500Million by 2017!!

This is an absolute disgrace. United were previously a well-run profitable club with no debts. So how can it be allowed to happen that an American with no interest in the game whatsoever is allowed to borrow a truckload of cash, take over and then place the debt on the club? We are now looking at the possible prospect of not only selling off Carrington, but Old Trafford as well. Which we then lease back!

And I'm amazed how lightly David Gill appears to have got off. I still remember him saying, when the takeover was in its early days and doubts were being raised about the financial implications of such a takeover, that he would never entertain the idea if it wasn't in the best interests of the club.

And just 4.5 years later, where are we?

And as for Alex Ferguson, he's let the fans down just as badly as anyone. In fact considering how long he's been with the club and how well he OUGHT to know the history of the club, you could almost argue he's been the worst of the lot. From the start he's been a Glazer sychophant, quick to praise and never to criticise. Even now he laughably claims that everything is 'ok' and he still has the Ronaldo money to spend on players.

Yet it's strange how, having spent £30Million on Berbatov, £28.1Million on Veron and an inflated £30Million on Ferdinand, he only now starts worrying about 'value in the market'............ And his arrogant, condescending attitude towards the club set up in response to Glazer, FC United of MAnchester, just goes to show how much in bed with the Glazers Ferguson really is.

All in all, we're in a right mess. Part of me hopes that the whole thing does go pop and we do a Leeds. At least then we'll see who the real fans are and we can put this whole debacle behind us......