The man who would put Man U in the red just wants the money By Jim White (Filed: 14/02/2005)
It has recently occurred to me why Robert Kilroy-Silk has that strange russet complexion, glowing with all the natural good health of someone who has just taken an unscheduled dip in the main reactor at Sizewell B. It is because the former talk-show host turned political messiah has skin the thickness of George W Bush's car doors; and all that extra means he exudes a different hue from the rest of us. Well, he must have skin that thick to plough on and on and on when his politics are universally considered a comedy. Why else would he demonstrate an almost heroic ability to misinterpret the public's latent hostility to oddly coloured ex-talk-show hosts as a massive endorsement for his ego-fuelled pursuit of 10 Downing Street? And yet, hard as it might seem to believe, over the past 12 months, one man has emerged with skin even thicker than the Silk's. Malcolm Glazer is a short-of-stature American businessman who wears idiosyncratic facial hair and pulls his over-sized trousers up under his armpits. It would be wrong, however, to misread his looks and assume he likes to keep himself to himself atop a toadstool in his local wood. Mr Glazer, owner of an American football team called the Tampa Bay Buccaneers, has wanted to buy an English football team called Manchester United for some time. Almost exactly a year ago, his first attempt to buy the club was rebuffed in no uncertain terms. Nobody wanted him. Not the board, not the shareholders and, most important, not the fans. They told him to go home and leave them alone. Even his backers told him that although he was fabulously wealthy compared with ordinary folk, he did not have enough cash to complete the deal. But while initially rebuffed, Glazer didn't take the hint. He returned six months later with another, improved bid. This time the gag was wearing thin. The board, the shareholders and the fans made it as clear as they could that he and his vigorously hoisted trousers were not welcome. Militant United supporters targeted his advisers and bombarded the offices of PR companies and banks with nuisance calls, blank faxes and phantom pizza deliveries. It was not the first time pizza had been used as a weapon in a footballing scrap, but it was probably the most effective. The advisers all withdrew and the second Glazer bid petered out. Now you or I would, at this stage, have decided enough was enough. Most of us tend to shy away from situations where we are not welcome. Besides, would it really be worth the personal grief to take on board a business whose loyal customers are so implacably opposed to your ownership? But no, back has come Glazer with his third bid, now higher than ever, valuing the organisation at �800 million. It is worth pointing out that Glazer doesn't actually have this money, but he intends to borrow much of it against United's assets, thus plunging a club that has never owed a penny into dangerous debt. It seems an odd way to progress a corporate purchase: a bit like me saying I'd like to buy Marks & Spencer and that I'll get a mortgage on every high-street store to meet the bill. Even after they understand how Glazer intends to finance his bid, those who show no affection for, or interest in, Manchester United might wonder why its supporters are so against him. Is not the arrival of a wealthy sugar daddy generally regarded as a good thing in football? After all, look what happened when the Siberian oil assets of Roman Abramovich were relocated to London SW3. But Manchester United has never needed such a benefactor. A hugely successful organisation, wealthy enough to spend �45 million on just three players in the past 13 months alone, United's money is entirely self-generated. It comes largely from legions of its supporters, through ticket sales, merchandising and - in the case of the armchair fan - satellite television fees. What those core investors resent is that Glazer does not share their interest in Manchester United, or indeed football. He has not harboured since he was five an ambition to see the team win the European Cup; red shirts signed by United heroes do not sit in frames on his office wall; if he were confronted by an unruly teenager swearing in his face, he wouldn't even recognise Wayne Rooney. Nor will Glazer be using a dime of his own money to improve the club. From the start, his spokesmen have talked about how he intends instead to "exploit the brand". Which is marketing speak for putting up ticket prices, selling the naming rights for Old Trafford stadium to the highest bidder and having the details of whatever family silver he happens to find about the place logged on eBay. There will not be many tears shed among those who regard United as the red devils incarnate if Glazer is successful at this, his third attempt. But let there be no doubt. In a business built on the dreams and ambitions of millions, this takeover is entirely venal. What Malcolm Glazer has spotted from across the Atlantic is the money rattling around in the fans' pockets, and he wishes to direct it into his own. Football would have been better off with a bid from Robert Kilroy-Silk. ------------------------ Yahoo! Groups Sponsor --------------------~--> Help save the life of a child. Support St. Jude Children's Research Hospital's 'Thanks & Giving.' http://us.click.yahoo.com/6iY7fA/5WnJAA/Y3ZIAA/GtUolB/TM --------------------------------------------------------------------~-> Please use [email protected] for general discussion. 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