The firing Tuesday of coach David Moyes followed Manchester United’s worst on-pitch performance in 24 years, seemingly vindicating those fans who foresaw failure under the team’s American owners.
From the point of view of those owners, the acquisition is hardly a bust. Since the Glazer family””owners of the NFL’s Tampa Bay Buccaneers””gained control of United in 2005, team revenue has nearly doubled on the strength of licensing deals with corporate giants around the world. Since a 2012 offering that transferred 10% of the English soccer club to the public, the value of United shares has climbed 34% to $18.78. That suggests that the franchise is worth $3.1 billion””more than twice what the Glazers paid.
But their quick firing of Moyes””who only this season took over following the retirement of the legendary Alex Ferguson ””suggests the Glazer family doesn’t regard United’s popularity as unshakable, especially at a time when other Premier League teams are pursuing global sponsors and audiences and spending lavishly on players.
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(WSJ) Manchester United Is Losing, but (Club Owners the) Glazers Aren't
The firing Tuesday of coach David Moyes followed Manchester United’s worst on-pitch performance in 24 years, seemingly vindicating those fans who foresaw failure under the team’s American owners.
From the point of view of those owners, the acquisition is hardly a bust. Since the Glazer family””owners of the NFL’s Tampa Bay Buccaneers””gained control of United in 2005, team revenue has nearly doubled on the strength of licensing deals with corporate giants around the world. Since a 2012 offering that transferred 10% of the English soccer club to the public, the value of United shares has climbed 34% to $18.78. That suggests that the franchise is worth $3.1 billion””more than twice what the Glazers paid.
But their quick firing of Moyes””who only this season took over following the retirement of the legendary Alex Ferguson ””suggests the Glazer family doesn’t regard United’s popularity as unshakable, especially at a time when other Premier League teams are pursuing global sponsors and audiences and spending lavishly on players.
Read it all.