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13/05/2010

Glazers have wasted every penny of our ticket money - and more

Any supporter (especially Season Ticket holders) who wants to understand the Glazer problem in a really simple way - read this. 

It really is incredible but the facts are there.


Since the Glazers took over they have wasted £437m in fees and interest - more than the TOTAL ticket revenue (£398m) for the full 5 year period of their ownership.


So every single penny we have paid for tickets over the last 5 years has been wasted.

Every single penny we've spent on our tickets over their entire 5 year ownership - wasted


Or put it another way every one of us could have:

attended every match free of charge for the last 5 years .....

on top of that the club could have given every Season Ticket holder £700 in cash each .....

and the club would still have been no worse off!

 

And this doesn't even include the £700m of debt they've dumped on the club either.

How long are we going to let them keep doing this to us and our club?

If you're a Season Ticket holder tell us what you intend to do regarding renewal here.

 

Figures courtesy of "Andersred blog"

GLAZER COSTS SINCE TAKEOVER
Professional fees £80m
Loss on closing interest rate hedge £35m
Cash interest paid £216m
Management and consultancy fees £13m
Loans to Glazer family members £10m
Rolled up PIK interest £83m

Total £437m

TICKET REVENUE SINCE TAKEOVER
Ticket revenue 2005/06 to 2009/10

Total £398m

Total wasted £437m - total ticket cost £398m = £39m

£39m divided between 56,000 Season Ticket holders = £696

 

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