http://action.joinmust.org/ en Copyright 2013 2013-06-13T11:20:06+00:00 http://action.joinmust.org/index.php/blog/entry/football-reform-latest-action-all-mps/ http://action.joinmust.org/index.php/blog/entry/football-reform-latest-action-all-mps/ If your MP is Labour then please use this alternative letter here: http://bit.ly/13GJdBZ   Otherwise please send this short message to your MP using the simple service at http://www.writetothem.com   Suggested text for message - [[replace the bold text in square brackets with your own MP's name and your home address]] :     [[Dear YOUR MP's NAME]] Please may I ask you to consider supporting EDM 157 relating to transparency in football? It is an issue that I feel very strongly about and I hope you do too. ISSUES OF TRANSPARENCY IN ENGLISH FOOTBALL http://www.parliament.uk/edm/2013-14/157 I'd be grateful if you could let me know if you have signed it?  Many Thanks.   Yours sincerely   [[YOUR NAME AND FULL ADDRESS]]        2013-06-13T10:20:06+00:00 http://action.joinmust.org/index.php/blog/entry/football-reform-latest-action/ http://action.joinmust.org/index.php/blog/entry/football-reform-latest-action/ FOR LABOUR MPs ONLY If your MP is not a Labour MP please use this alternative letter for all other MPs here: http://bit.ly/175gQ70 Otherwise please send this short message to your Labour MP using the simple service at http://www.writetothem.com Suggested text for message - [[replace the bold text in square brackets with your own MP's name and your home address]] :     [[Dear YOUR MP's NAME]] I wonder if you are aware of, or hopefully already attending, the Labour policy event next Monday 17th June detailed below? "One Nation Football – Owning and Belonging", Monday 17 June 2013, 4.30pm – 6pm, Committee Room 8  This event is being run by the Labour Party Policy Group, as part of its current ‘One Nation’ policy review, and is designed to encourage ideas about how the Labour Party can encourage and develop supporter and community ownership in football.  The event is being chaired by Clive Efford, the Shadow Sports Minister. He will be joined by the Chief Executive of Supporters’ Direct, David Lampitt, Guardian Sports Writer, David Conn, and the Chair of Labour Friends of Football, Alison McGovern MP. This is a policy area that I am extremely passionate about, and as my local Member of Parliament I would be grateful if you would consider attending the event. If you are able to attend please email onenationregister@gmail.com to confirm your intention to attend.   EDM 157: ISSUES OF TRANSPARENCY IN ENGLISH FOOTBALL Please may I also ask you to consider supporting EDM 157 relating to transparency in football? It is an issue that I feel very strongly about and I hope you do too. http://www.parliament.uk/edm/2013-14/157 I'd be most grateful if you could let me know if you have signed it?    Many Thanks.   Yours sincerely   [[YOUR NAME AND FULL ADDRESS]]            2013-06-13T10:05:18+00:00 http://action.joinmust.org/index.php/blog/entry/response-from-sports-minister-hugh-robertson-to-cms-report-calling-for-foot/ http://action.joinmust.org/index.php/blog/entry/response-from-sports-minister-hugh-robertson-to-cms-report-calling-for-foot/ The following letter was published today setting out the Sports' Minister's response to the CMS Select Committee follow-up report on football governance. This sounds particularly encouraging: "I have already been given drafting authority by the Parliamentary Counsel, and my officials have started working up a draft Bill and supporting documentation, should football fail to deliver. This Bill will reflect the conclusions of your report."    Letter from Rt Hon Hugh Robertson MP, Minister for Sport and Tourism, dated 30 April 2013 I am grateful to the Culture, Media and Sport Select Committee for carrying out its follow-up inquiry into football governance, and its report, published on 29 January 2013. I share the Select Committee's frustration at the football authorities' slow progress in implementing long promised, and much needed, reforms to the game. I also share your analysis that there are three key areas where we need to see real progress made. In particular, the licensing system for clubs, the introduction of a representative and balanced Board, and improved supporter engagement at club level. I agree with your recommendation, that in the absence of significant progress with these by the beginning of next season, we should seek to introduce legislation as soon as practically possible. I have already been given drafting authority by the Parliamentary Counsel, and my officials have started working up a draft Bill and supporting documentation, should football fail to deliver. This Bill will reflect the conclusions of your report. While most of the Committee's recommendations are directed towards the football authorities, I thought it might be useful to re-iterate the Government position on some of the Committee's key conclusions and recommendations. REFORM OF THE GOVERNANCE STRUCTURE I agree with the Committee, that the FA should provide strategic leadership for all levels of the game, representing the interests of the professional and national game equally. I welcome the football authorities' proposal, therefore, to require all committees to report to the main FA Board. The FA Board should act on the recommendations of its advisory game boards, but not be subject to them. I agree, also, with the Committee that the FA decision-making bodies should be representative of the modern game and its diverse stakeholders, and should be equipped with the right balance of skills, experience and independent expertise to be able to meet the challenges that arise in the game. While I have previously made clear that I think a representative and balanced Board is the first priority, I still expect the FA to deliver its undertaking to have a Board of between 8-12 members, by the start of the 2013-14 season. CLUB OWNERSHIP AND SUPPORTERS My Department continues to urge the football authorities to make full transparency of club ownership, a key condition of the new licensing system for clubs. The licensing system should set out stricter criteria, in terms of owners being both fit and proper, and around the requirement to have clearly defined business plans for how they will safeguard the club's future. Taken together, these would provide greater transparency to clubs' supporters. In this context, work is also underway across Government to strengthen the requirements on all companies around ultimate beneficial ownership disclosure. I also agree that more needs to be done to ensure that supporters' interests are given due consideration in any decision making. I agree with the Committee, that more detail is needed on how clubs will engage with their supporter groups, and expect this to be laid out clearly, in the new licensing system. At the same time, I believe the football authorities should continue to consider ways to actively encourage and incentivise the inclusion of supporter representatives on the boards of clubs. I support the recommendation of the Committee that a long term funding solution for Supporters Direct is needed. The organisation continues to provide a valuable service to supporter groups, particularly those that seek to rescue clubs that have fallen into financial difficulty. I will be meeting with representatives of Supporter Direct shortly, with a view to working with them to set up the working group as recommended by the Committee. FINANCIAL MATTERS I agree with the Committee that the new club licensing system, and the financial rules that underpin this, will be key to ensuring the long term sustainability of clubs. However, further detail is required from the football authorities on the content of the licence, and the role that the new FA Regulatory Authority (FARA) will have in monitoring and enforcing FA Rules and Regulations. I join with the Committee in welcoming the recent progress made by the football authorities and all 92 professional clubs, in agreeing to adopt Financial Fair Play (FFP) principles. The implementation of FFP should gradually lead to clubs reducing their spending, and as a result, see fewer incidents of club insolvencies. I hope that the FFP, should, in turn, negate the need for football to rely on the Football Creditors Rule in cases of club insolvencies. However, we will monitor the effect this self-regulation has on the financial discipline and solvency of clubs, and, if necessary, will re-consider whether legislation is needed to address this issue. My Department will continue its dialogue with the football authorities in the coming months, to ensure that necessary action is taken to deliver these important governance reforms. A copy of this letter has been sent to David Bernstein, Chair of the FA. 2013-05-23T13:48:56+00:00 http://action.joinmust.org/index.php/blog/entry/must-response-to-news-of-sir-alex-fergusons-retirement/ http://action.joinmust.org/index.php/blog/entry/must-response-to-news-of-sir-alex-fergusons-retirement/ In response to the news that Sir Alex Ferguson has announced his intention to retire a spokesperson for MUST, the Manchester United Supporters Trust, said: "Like United fans all over the world we will be sad to see Sir Alex go. Simply he is a one-off and irreplaceable. Our first reaction is an overwhelming feeling of immense gratitude towards Sir Alex for the truly outstanding contribution he has made to our football club.  Though his decision will no doubt be greeted with universal dismay amongst United supporters it was inevitable at some point and though we'd selfishly love to see him to carry on there is a point where he has to think about himself and his family. We are sure his influence will continue to be felt directly at Old Trafford, in the dressing room and in the stands, for some time to come and his legacy will last forever.   There will be so many tributes made to him over the coming weeks and we'll be giving our own consideration about how MUST and our members will want to mark this historic occasion in a fitting way but at this stage our message to Sir Alex - is heartfelt but short and sweet - 'Thank you' " 2013-05-08T11:03:57+00:00 http://action.joinmust.org/index.php/blog/entry/last-chance-today-tues-30th-april-to-take-part-in-away-ticket-distribution-/ http://action.joinmust.org/index.php/blog/entry/last-chance-today-tues-30th-april-to-take-part-in-away-ticket-distribution-/ If you're a season ticket holder and haven't already responded and you are interested in MUFC away ticket distribution proposals today (Tuesday 30th April) is your last chance to respond. Details from the club below and you might also wish to view the discussion in the comments section at RedsAway at the foot of this information. Please read the proposals below. You may also want to think about these questions suggested by members. Obviously we want to create the best outcome for the club (support/atmosphere and allocations) and all fans who wish to attend aways rewarding loyalty while also allowing new fans to get into the regular away habit and especially to include young fans to bring through the next generation considering the ageing population of our support. This isn't about each supporter looking at it selfishly to work out how they can increase their own chances but rather doing what is fair and what is right for fans and the club.   Please explain the reasoning for your answer in terms of what effect you think it will have and why this is beneficial?   Responses should be sent to mailbox awaygamefeedback@manutd.co.uk by 30th April.  Final proposals will be confirmed at the May Forum meeting.    1. Should new season-ticket holders be prohibited from applying for domestic away tickets for three seasons? 2. Should right to apply for away tickets be governed by not only by how many home games you buy tickets for but rather how many home games you actually attend in person (and support the team)? 3.  Should a limited number of domestic away tickets be set aside for adults wanting to go with juniors to promote the next generation of away fans?  4. Would you be in favour of the club taking action to improve fan behaviour at domestic away games, for example, to stop people blocking aisles? What action would you like to see taken? 5. To clampdown on ticket touting and ensure the person who was assigned the ticket for domestic away games actually attends, should the club introduce an ID check system? If so, what system would you favour? 6. Do you think the Loyalty Pot should remain as it is with no new members admitted, be changed (if so how?) or be removed (if so why?) 7. In addition to domestic home game attendance and away game applications as a measure of loyatly should the number of European away games applied for/attended also add to loyalty points to increase chances for those ultra loyal fans?   Official message from Manchester United to season ticket holders.   >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>   Responses should be sent to mailbox awaygamefeedback@manutd.co.uk by 30th April.  Final proposals will be confirmed at the May Forum meeting.    Away Ballots Final Proposals   Following an extensive review over the last few months, the Fans’ Forum is proposing a number of improvements to the process of Away ticket balloting We are asking for specific feedback on these proposals.     The proposals are summarised in this note.   LOYALTY POT (LP) LONGER TERM   Both the Forum and the Club endorse the continuing principle of a Loyalty scheme based on long-term attendance/application for domestic away games. But it needs to be redesigned to make it more open and dynamic.  Currently, to qualify for the Loyalty Pot, a fan had to have applied for every away game during a particular period during the 2002/03 season.  We want to allow fans who have shown great loyalty since then to enjoy the benefits of the Loyalty Pot.   This degree of change is beyond the scope of what we initially agreed to look at so we can’t introduce a new scheme for next season as it needs more analysis & design, consultation and notice of change. We should aim for it to be in place for 2014/15.   MEASURES FOR NEXT SEASON   1             Redistribution of Current Allocations   Ballot processes so far this season have reduced LP success rates by about 9% to around 78% (in part due to a run of lower allocation games). This has resulted in a small benefit to ST applicants (now around 15% success rate). Distribution will have to be reviewed further as part of the new Loyalty scheme from 2014/15. For 2013/14 we should keep LP success at 80% which equates to an average of 750 per game. This percentage should be retained even if LP applicants fall further during next season.     2          Qualifying Period for New Season Ticket Holders   From next season, no new Season ticket holder will be able to apply for away games until they reach Silver level which has reduced from 5 years tenure to 3 years.  All existing Red ST holders will be able to continue to apply.   3          Application and allocation controls   We want to ensure that, as far as possible, tickets are allocated to and used by those who are actually applying - but we do not want to prevent informal exchange trading between regular applicants, or create unreasonable demands on applicants or the Club.   Proposed measures could lead to fewer applications (increasing success rates for those applying genuinely), help to ‘audit’ the current applications base in advance of a new loyalty scheme, and tackle ticket touting (including all sources of premium price tickets).   Some or all of the following may be used during 2013/14:   1.    Identity and match going status of all current LP members to be re-validated (method may include some form of ID ticket collection for a few selected games, which may include presenting Season Tickets as proof of identity) 2.    Club exercise due diligence with club allocated tickets (player, sponsors etc) on conditions of ticket use. 3.    Discourage multiple and proxy applications in the ST pot – may include validating secondary applicants and/or tickets sent out separately to grouped applications. 4.    Discourage Execs from applying on behalf of others as this impacts on success rates of fellow execs 5.    Sustained Club follow up on all premium ticket sale sources     4          Addressing Reduced Allocation Issues   Actions to improve success rates of ST applicants will be wiped out by continued reduced allocations imposed by clubs or local Safety Advisory Groups. Incidents have occurred at several games this season. Multiple incidents at Chelsea Capital One Cup (flare, bottle, pitch encroachment) led to a renewed reduction at Spurs. There were further incidents at Swansea (flare) and West Ham (seat on pitch). Other matches have reported issues of major aisle encroachment and steward abuse.   The Forum recognises the efforts of club officials and of supporter groups in negotiating with clubs and authorities and encouraging appropriate behaviour. This was particularly successful for the Anfield game following the Hillsborough report. But, we need ideas and commitment to do more in the interest of the core away fan base.   MEASURES FOR CONSIDERATION BUT NOT FOR 2013/14   1          Possible Registration Scheme for Away Applicants   Club officials have suggested that a registration scheme could help to persuade clubs and authorities not to reduce allocations. The suggested scheme would require both a ticket (notindividually named) and personal photo ID card to enter a ground. It might also discourage occasional applicants (eg for popular games). But there would be costs for the club and applicants and some may have civil liberty concerns.   A compromise idea would be for ticket holders to show the Season Ticket of the supporter in whose name the away ticket was issued.  This would have the benefit of allowing genuine fans to swap tickets in the event that the original supporter cannot attend the game but with the proviso that the applicant has to give the fan attending the game something of value (ie his or her United Season Ticket) in order to prove they legitimately hold the ticket.   Neither the Club nor fan members of the forum are committed at this stage but we agreed to seek initial views from fans on the concept and principles.     2          Possible Separate (limited) Allocation for Family Stand (FS) Applicants   There has been a suggestion that there should be a limited scheme to provide dedicated tickets (located together in appropriate seating) for Family Stand applicants - ie an adult accompanied by a junior.   Proposed 25-30 pairs (50-60 seats) per game. For a few games this might be negotiable in the opposing team family area. FS applicants would not be able to apply additionally in the ST pot.  Any net ‘loss’ to be borne by ST Pot (offsetting some gain from LP)     FEEDBACK REQUEST   Although we have sought earlier feedback that generated the ideas that now form the basis of our proposals, we would like your view on the final proposals and other key questions.   The Club is committed to an updated Loyalty Pot and the three year qualification period, but we would like any views on the following:   1.    Initial views on how the Loyalty pot could be altered to incorporate the principle of ‘recent loyalty’ 2.    Proposal for limited Adult & Junior allocation 3.    Other proposals to control applications and allocations 4.    Further potential actions to address minority fan behaviour/reduced allocation issues 5.    Views on the principles of a registration scheme and/ or the use of home Season Tickets to prove identity.   Responses should be sent to mailbox awaygamefeedback@manutd.co.uk by 30th April.  Final proposals will be confirmed at the May Forum meeting.   Fans’ Forum April 2013     >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>      REDSAWAY: How to take part in away ticket distribution consultation http://bit.ly/17tYk4I     2013-04-29T22:10:46+00:00 http://action.joinmust.org/index.php/blog/entry/secretary-of-state-responds-to-musts-nomination-of-old-trafford-as-an-asset/ http://action.joinmust.org/index.php/blog/entry/secretary-of-state-responds-to-musts-nomination-of-old-trafford-as-an-asset/ MUST - the Manchester United Supporters Trust today (Saturday 27/04/2013) welcomed the comments from the Rt Hon Eric Pickles MP, Secretary of State for Communities and Local Government in response to the news that Old Trafford and Anfield have been nominated as Assets of Community Value by their respective supporters' trusts (MUST & Liverpool Supporters' Union)  The Rt Hon Eric Pickles MP, Secretary of State for Communities and Local Government said: "Football stadiums are not only the heart and soul of every team, they are rooted in and loved by the neighbourhoods that surround them." "Thanks to the new rights we've created, today football fans are exercising their community right to keep the beautiful game at their team's spiritual home by protecting their stadium's future." "These rights are being used to back many more community ventures from local sports clubs, pubs, village shops and even a pier."  MUST welcomed the response from the Secretary of State: "We're delighted to see recognition of our nomination coming right from the top with these supportive words coming from the Secretary of State for Communities and Local Government." "We anticipate fan groups at clubs across the country will be exploring nomination of their own stadia both to enhance their protection and offer the future opportunity to take them into supporter ownership, perhaps as a stepping stone towards a significant ownership stake in the clubs themselves." Contacts: Department for Communities and Local Government Media enquiries 030 3444 1201 contactus@communities.gsi.gov.uk NOTES TO EDITORS   The Locality guide: Community Right to Bid – the Implications for Supporters Trusts can be downloaded from this page: http://bit.ly/11npdDb   To contact Trafford Council Communications team:  communications@trafford.gov.uk  0161 912 4080    Trafford Council Mayor's Office mayors.office@trafford.gov.uk 0161 912 4221   Leader of Trafford Council Matthew Colledge matthew.colledge@trafford.gov.uk 0161 980 1792     2013-04-27T14:58:20+00:00 http://action.joinmust.org/index.php/blog/entry/must-has-nominated-old-trafford-to-be-listed-as-an-asset-of-community-value/ http://action.joinmust.org/index.php/blog/entry/must-has-nominated-old-trafford-to-be-listed-as-an-asset-of-community-value/ PRESS RELEASE EMBARGOED UNTIL 13:00, FRIDAY APRIL 26th, 2013 The Manchester United Supporters’ Trust has nominated Old Trafford to be listed as an 'Asset of Community Value' MUST paves way for fans to have a say in Old Trafford’s future MUST, the independent Manchester United Supporters’ Trust, announced today that it has submitted a nomination to TraffordCouncil for Old Trafford Football Stadium, the home of Manchester United Football Club, to be registered as an 'Asset of Community Value' under the "Assets of Community Value Regulations of the Localism Act (2011)".  The listing of Old Trafford Football Stadium as a ‘Community Asset’ by the council would mean that in any circumstance where the stadium’s current owner were to look to dispose of it, the Manchester United fan community – led by the ManchesterUnited Supporters’ Trust - would have the opportunity to secure Old Trafford’s future.  MUST believes that the listing will: ·  Reduce the chance that, without prior notice to the local council and community, Manchester United Football Club could move to another location ·  Protect the stadium’s viable use as venue for Manchester United Football Club for current and future generations ·  Ensure it continues as a site for delivering social benefit and community value, both through the continued hosting of Manchester United’s matches, and through the associated community activities Manchester United undertakes ·  Help ensure a sustainable future for Manchester United within the community, with the community potentially owning a stake in the stadium ·  Provide the opportunity to use the non-football revenues generated by the stadium to support Manchester Unitedand its sporting and community activities ·  Ensure that Trafford Borough continues to receive the economic benefits associated with match day activities and the value derived by providing the home to a truly global brand In its nomination to Trafford Council, MUST set out a number of reasons why Old Trafford Football Stadium qualifies as an Asset of Community Value. Manchester United delivers both social value and community benefit to Trafford, Manchesterand Salford, and more broadly as an integral part of the local area. The Club’s history in Manchester goes back to its founding in 1878 as Newton Heath Lancashire and Yorkshire Railway Football Club. MUST has sought specialist legal advice on this application and we’ve been advised our nomination is very strong, meets the criteria set out within the legislation and furthermore that there would be the option to take this to Judicial Review should the nomination fail to proceed. The application by MUST now resides with Trafford Council to consider and they will have up to 8 weeks to make that decision. Should the owning Glazer Family (majority shareholders) wish to appeal against a successful nomination on the basis that OldTrafford is not an Asset of Community Value this would clearly represent a rather odd position given the Club’s longstanding statements on this matter including in its own charter and the website of its community engagement arm – The ManchesterUnited Foundation. Following a successful listing should the owner of the asset wish to sell they will be required to notify the Council and MUSTwill then have six weeks to lodge a non-binding expression of interest, in which case a window of opportunity of a further four and half months, (making six months in total), will come into effect to delay the sale. The full moratorium period exists to afford community interest groups sufficient time to prepare and raise money to bid for the property, potentially in competition with other interested parties. MUST is grateful to the Department for Local Government and Communities for its invaluable support and assistance with the application process. We understand Liverpool Supporters’ Union are also in the process of submitting a similar application and expect many more supporters’ trusts will nominate their stadia as Assets of Community Value over the coming months.  We look forward to Government building on this initiative to further encourage co-operative ownership of football clubs. Quotes 1. A spokesperson for MUST said: “It is important to understand that a successful listing gives us the ‘right to bid’ rather than the ‘right to buy’. However a listing reduces the chances that Old Trafford could be secretly sold off and worse still Manchester United FC move to a new location, as we’ve seen with such disastrous effects at several other English clubs – perhaps the worst example being Wimbledon/MK Dons. We don’t have any reason to assume the Glazers currently have any plans to sell Old Trafford and we’d anticipate denials to that effect should they respond to such questions at this time. However if that truly is the case they should have no reason to oppose this application.  On the contrary they should welcome the emergence of any potential bidder as it simply provides an option but no obligation to accept any bid. We invite Manchester United fans in the community to contact their local Councillor to express support for this nomination and we will also be encouraging supporters to join the trust through our website so that they can be part of the preparations we are putting in place to create a future ownership vehicle for Old Trafford should an intention to sell be notified to us. We have a number of fundraising activities planned, including a local lottery, to raise funds as seed capital for a future bid vehicle. We anticipate that the vast majority of funds would only be raised in the six months following notification of an intention to sell and we will be exploring the potential opportunity to launch a Community Shares issue in this event. However these preparations and fundraising activities must be started immediately to maximise our chances of success if/when the opportunity arises and furthermore such funds could quickly be diverted into a fans’ share purchase fund in the event that a meaningful stake in the football club itself becomes available.”   2. Supporters Direct, the national body for supporters’ trusts, said “We fully support MUST's application to designate Old Trafford as an Asset of Community Value. If it's possible to protect a work of art, then surely a football stadium deserves similar protection. We hope that the wider game acknowledges the importance of this move.”  -           ENDS –  NOTES TO EDITORS The Locality guide: Community Right to Bid – the Implications for Supporters Trusts can be downloaded from this page: http://bit.ly/11npdDb To contact Trafford Council Communications team:  communications@trafford.gov.uk  0161 912 4080 Department for Communities and Local Government Media enquiries 030 3444 1201 contactus@communities.gsi.gov.uk   Trafford Council Mayor's Office mayors.office@trafford.gov.uk 0161 912 4221   Leader of Trafford Council Matthew Colledge matthew.colledge@trafford.gov.uk 0161 980 1792   Deputy Leader of Trafford Council Alex Williams alex.williams@trafford.gov.uk 0161 980 3967   -- MUST - the Manchester United Supporters Trust www.joinmust.org MUST is the independent Manchester United Supporters' Trust, a not-for-profit organisation with 180,000 members stretching around the world Our Inspirational Dream  Manchester United FC owned by the fans and run for the fans. Our Greatest Imaginable Challenge  To create the opportunity for all United fans to share in the ownership of their club, inspiring the participation of at least one million supporters. MUST is the independent Manchester United Supporters' Trust, a not-for-profit organisation and an Industrial and Provident Society registered with the Financial Services Authority (30024R) under the name I-MUST Limited with offices at MUST, Trafford House, Chester Road, Stretford, MANCHESTER M32 0RS 2013-04-26T16:00:28+00:00 http://action.joinmust.org/index.php/blog/entry/press-release-must-response-to-the-news-that-david-gill-is-to-stand-down/ http://action.joinmust.org/index.php/blog/entry/press-release-must-response-to-the-news-that-david-gill-is-to-stand-down/ In response to the news that David Gill is to stand down as Chief Executive of Manchester United on 30th June, MUST Chief Executive, Duncan Drasdo said: "While opinion is split among United fans on David Gill, you can’t argue with the fact that his period as CEO has coincided with our greatest period of success on the pitch. The manager, Sir Alex Ferguson, has in large part driven that, but we have to commend the work of the commercial team off the pitch too and of course the all too often overlooked role of the support of loyal Manchester United fans." "We've had a long relationship with David Gill although for the last 8 years, regrettably, there has been no direct dialogue. Prior to the Glazers' takeover MUST had a very good working relationship and on a personal level we liked and respected him but despite his initial strong resistance when the crunch came we ended up on opposite sides of the takeover barricade." "Undoubtedly many fans were unhappy that he didn't stand down on principle and appeared to make a u-turn on his previously vehement opposition to loading debt onto our club. Presumably he balanced up principle versus pragmatism and then made his decision and whether we agreed with that or not it should not prevent proper recognition of his major contribution to Manchester United Football Club." "However we also can't ignore the frustrations we've had as supporters under the Glazers’ ownership following a takeover that has cost our club well over £500m. That is a huge sum of money, lost through payments related to their debt and also directly to Glazer family members, while at the same time ticket prices rocketed and net player investment fell dramatically, relative to turnover.  But perhaps the major frustration has been the lack of dialogue between the independent democratic fans groups and the club’s senior management and owners." "So while it would be easy to draw up a list of grievances, there is little point in looking back now at what could or should have been. We know that with any change an opportunity may present itself, provided you are open to it, so our position must be to look forward in the best interests of our members, Manchester United supporters, and the club." "The new CEO, Edward Woodward, is clearly a very capable operator and perhaps he will be less encumbered by baggage from past events and thus find it easier to seek out the win-win opportunities that could be unearthed if the club (and its owners) properly respect and communicate with their fans. " -- Duncan Drasdo Chief Executive, MUST Twitter: @Drasdo MUST - the Manchester United Supporters Trust www.joinmust.org MUST is the independent Manchester United Supporters' Trust, a not-for-profit organisation with 180,000 members stretching around the world Our Inspirational Dream  Manchester United FC owned by the fans and run for the fans. Our Greatest Imaginable Challenge  To create the opportunity for all United fans to share in the ownership of their club, inspiring the participation of at least one million supporters. MUST is the independent Manchester United Supporters' Trust, a not-for-profit organisation and an Industrial and Provident Society registered with the Financial Services Authority (30024R) under the name I-MUST Limited with offices at MUST, Trafford House, Chester Road, Stretford, MANCHESTER M32 0RS 2013-02-20T13:58:22+00:00 http://action.joinmust.org/index.php/blog/entry/press-release-no-christmas-cheer-for-manchester-united-away-fans/ http://action.joinmust.org/index.php/blog/entry/press-release-no-christmas-cheer-for-manchester-united-away-fans/ No festive season cheer for Manchester United away fans - West Ham reduce FA Cup allocation and won't say why. - Wigan take away more than 1000 tickets in away end to sell as corporate packages. - Thomas Cook sell off Madrid tickets first-come first-served over the heads of loyal fans who travelled to group stages. - Communication with fans reaches an all time low over these decisions. - MUST, along with the editor of Redsaway.com, call for councils, safety advisory groups and clubs to have to consult fan groups on key decisions. Manchester United fans have been incensed by a number of recent decisions affecting allocations and pricing at away games around the festive period. First, the allocation for the FA Cup match on January 5th at West Ham should be set at around 5,300, the same as it was for the Carling Cup game in the same stadium a few seasons ago. While West Ham, Newham Council or Manchester United have not formally announced what the allocation is, we believe it to be under 4,500. No reason has been given by any party for the reduction and no liaison with fan groups was sought by any party in advance of the decision being made. Minutes from the local safety group will not appear online, and amazingly a request under The Freedom of Information Act to tell us the allocation does not need to be answered until weeks after the match is played! Secondly, Wigan Athletic have decided (not for the first time) to treat Manchester United fans differently to those of all other clubs. Instead of offering the usual away allocation of over 5,000 tickets behind one goal, the club has decided to lower this allocation to less than 4000 and then fill the rest via their own website (rather than via Manchester United) to away fans paying £125 each to have a meal and ticket combined. We believe this to be unjustifiable and believe that any away fan in the stadium, let alone in the away stand without segregation between them and the official visitors section, should be ticketed directly by Manchester United. It is a precedent that is now being copied by other clubs when Manchester United visit, as seen at Bolton and Fulham last season too. Thirdly, the exciting tie with Real Madrid has caused more ticketing issues. The club's official travel partner, Thomas Cook Sport, have already put five plane loads of tickets on offer to be bought by any member or season ticket holder of Manchester United on a first-come first-served basis. These expensive trips do not give priority to fans with loyalty credits from previous games in the Champions League, unlike the club's own ticket ballot which will prioritise fans who made the long trips to support United in the group stage games in Cluj, Braga and Istanbul. Thomas Cook and Manchester United have always refused to share information on how many tickets Thomas Cook are entitled to, sometimes leading to bizarre and unfair policies such as members getting a Champions League final ticket for Wembley in 2011 by buying a package, whilst over 20,000 season ticket holders were not even permitted to apply for a ticket via the club. It is time that Manchester United and Thomas Cook agreed to have a coherent and transparent system of allocating tickets, so that Thomas Cook can still fill up their trips but giving priority first to those who have accrued loyalty credits recognised by the club. MUST CEO Duncan Drasdo said: "The theme that remains constant through many away ticketing decisions is the lack of transparency and information given to fans. We are rarely part of the decision making process on away ticketing issues, despite being the people most affected by decisions. More safety groups, councils and football clubs need to change their stance and liaise with supporter groups when discussing safety, allocations and policies. We are calling on the FA and Premier League to help set up a new framework for away ticketing decisions that ensures fans are consulted in the future. Evidence suggests that, when fan groups are consulted, the problems that safety authorities have raised are far more likely to be solved." FSF caseworker Amanda Jacks said: "The FAs Crowd Management Good Practice Guide states that there is plenty of evidence to suggest fans behave better when they feel included. Supporter groups all over the country are keen to be included as part of the solution rather than just seen as the problem. Fans are the largest stakeholders in the game and wed like to see more proactive communication between the authorities and fans." Ends MUST - the Manchester United Supporters Trust www.joinmust.org Reds Away www.redsaway.com The FSF www.fsf.org.uk     MUST is the independent Manchester United Supporters' Trust, a not-for-profit organisation with 180,000 members stretching around the world Our Inspirational Dream Manchester United FC owned by the fans and run for the fans. Our Greatest Imaginable Challenge To create the opportunity for all United fans to share in the ownership of their club, inspiring the participation of at least one million supporters. MUST is the independent Manchester United Supporters' Trust, a not-for-profit organisation and an Industrial and Provident Society registered with the Financial Services Authority (30024R) under the name I-MUST Limited with offices at MUST, Trafford House, Chester Road, Stretford, MANCHESTER M32 0RS MUST - www.joinmust.org   if (WIDGETBOX) WIDGETBOX.renderWidget('81cf36e3-c641-4c9d-a6ab-3a907fa4a7c4'); Get the MUST Signup Widget widget and many other great free widgets at Widgetbox! Not seeing a widget? (More info) 2012-12-28T13:00:46+00:00 http://action.joinmust.org/index.php/blog/entry/happy-xmas-fergie-dancing-gangnam-style-oppafergiestyle/ http://action.joinmust.org/index.php/blog/entry/happy-xmas-fergie-dancing-gangnam-style-oppafergiestyle/ Thanks to @AntonAlfy for this special festive MUFC greeting from Fergie 2012-12-25T07:38:00+00:00 http://action.joinmust.org/index.php/blog/entry/fans-forum-away-tickets-distribution/ http://action.joinmust.org/index.php/blog/entry/fans-forum-away-tickets-distribution/ Fans Forum Interim Update A Working Group from the Fans Forum is currently considering proposals to review Away Tickets distribution. The agreed objective was to try to improve chances for regular season ticket (SP) applicants, including younger fans & families, who are not in LP while keeping current LP/Exec/ST structure. The WG includes representation from all ‘categories’ of away applicant. So far we have sought feedback on issues and ideas through fanzines and analysed application data and other information provided by the club. After an initial discussion at the October Forum, last week we met with club officials to progress emerging ideas and had a very constructive discussion. The main ideas that we are now actively developing are a possible qualifying period for new season ticket holders, limited rebalancing of allocation splits, and some preference for new younger fans (Family and Under 21s). We are also looking at a number of options to control distribution, in particular to reduce tickets diverted to premium price sources, including a possible registration scheme/ID card (although we do not want to prevent face value exchanges). All of those at the meeting, including club officials, strongly supported the long term retention of a Loyalty Scheme. However, a new emerging thought is whether the current Loyalty Pot should be opened up and made dynamic, based on more recent application history, with suitable protection for current LP. However this needs much more development and consultation on how it might operate, if indeed it is feasible. We need to feed back to the next full Fans Forum due on 8th February but will communicate widely immediately after that meeting seeking views, including in particular on any proposals around the Loyalty Pot. While this update will undoubtedly lead to further fanzine debate please bear with us until February when we will organise a more structured discussion. Fans Forum Working Group 17th December 2012-12-18T10:56:16+00:00 http://action.joinmust.org/index.php/blog/entry/football-supporters-needed/ http://action.joinmust.org/index.php/blog/entry/football-supporters-needed/ Got a strong opinion on the way football is run these days? Think fans should have more say? Feel like modern football is leaving you behind? Or are you getting more involved ‘behind the scenes’ of football to try and make a difference?     Loughborough University are looking for passionate football fans to get involved with a piece of research they are doing about how supporters feel about football governance.   2012-12-14T21:50:16+00:00 http://action.joinmust.org/index.php/blog/entry/cantona-march-tonight-before-west-hamh-meet-7pm-outside-bishop-blaize/ http://action.joinmust.org/index.php/blog/entry/cantona-march-tonight-before-west-hamh-meet-7pm-outside-bishop-blaize/ 20 years since the King signed for United - Cantona week culminates tonight before the West Ham(H) game with a march to the ground in honour of Eric. Meet outside the Bishop Blaize for 7pm and march departs for the ground at 7.30pm. If you want to join in bring your flags and get your Eric masks from the MUST stall (8 Sir Matt Busby Way) or inside the Red Square venue. (You can also get them by mail order online here)   Red Square opens at 16.00 tonight before the West Ham(H) game -  (and 3-4 hours before KO of every home game). If you have any friends who'd like to sign up for a MUST Red Square card instructions are at the foot of this post. Please note anyone registering now will have to wait until the next home game to collect their card as the list is about to be sent to the venue for the West Ham game. >>>>>> MUST has a special agreement for members with the massive new Red Square matchday venue near Old Trafford. Red Square is a huge United fans pre-match venue with lightning quick bar service and food provided by Gourmet Burger Co.  It is located within the Victoria Warehouse complex which backs onto the canal, a stone's throw from Old Trafford, near the Premier Inn. Where is it? Here: www.victoriawarehouse.com/getting-here/ If you register using the link below you'll be able to collect a free MUST Red Square membership card. The card  gets you: cans of Fosters for the discounted price of £2 free entry to the venue - (normally £1 although this is not currently charged) other special offers & benefits which MUST will notify you about match by match Red Square opens 3 hours before every home game  REGISTRATION FOR A MUST RED SQUARE CARD: If you don't already have a MUST membership number (9 digits starting 1xxxxxxxx) you can get a free e-membership number here (then click on the confirmation link in the resulting email you receive to get your membership number): www.joinmust.org/join/free.php And then register for Red Square using your membership number here:  http://action.joinmust.org/MUST-Red-Square   2012-11-28T16:11:33+00:00 http://action.joinmust.org/index.php/blog/entry/information-for-mufc-supporters-travelling-to-galatasaraya/ http://action.joinmust.org/index.php/blog/entry/information-for-mufc-supporters-travelling-to-galatasaraya/ We have been liaising with Greater Manchester Police regarding away match travel and they have asked MUST to circulate the following information: The MUFC ticket collection point will be on the first floor of The Pointe hotel, which is 100m from Taksim Square. A representative from GMP will be present and will be happy to answer any questions or advise of any changes to the match organisation. Coaches will be laid on from Taksim square to the stadium. We are unsure whether these will be free or whether there will be a nominal charge. The journey will take approximately 30 minutes. GMP advise us that they believe this to be the best and safest route to the stadium – the coach route appears safe and without obvious ‘pinch points’. The coach will drop fans inside a secure area at the stadium, avoiding potential contact with home fans outside the stadium. Taxis can be taken to the stadium, but be aware that traffic is likely to be heavy so this may not be any quicker. It is possible to take the underground Metro to the stadium. However GMP tell us that this is not well policed and they do not consider it a safe way to travel to this match. The stadium will be open 2 hours 30 minutes before kick-off and flags are welcome. However no flag poles or pyrotechnics will be permitted and we believe stadium security searches for these items will be thorough. No coins are allowed in the stadium. Stadium security will be looking to confiscate these on entry. Payment at kiosks in the stadium is by paper money only and change will be given in tokens that can be redeemed afterwards. GMP have been told that there will be a 30-45 minute hold back after the final whistle, but would not be surprised if this was nearer to an hour. Coaches will be laid on from the stadium back to the centre afterwards. To receive future away match travel information please register here: https://www.joinmust.org/join/free.php   Also keep an eye on www.redsaway.com   2012-11-16T15:24:39+00:00 http://action.joinmust.org/index.php/blog/entry/information-for-mufc-supporters-travelling-to-liverpool/ http://action.joinmust.org/index.php/blog/entry/information-for-mufc-supporters-travelling-to-liverpool/ The following statement is being circulated to Manchester United supporters travelling to Anfield for the match on Sunday. We do not intend to make any comment aside from this statement. Information for MUFC supporters travelling to Liverpool Reds going to this Sunday's match against Liverpool at Anfield are being asked to keep the aisles clear. Last season, Liverpool City Council reduced United's allocation to 1,965 in an attempt to address the problem of United fans blocking the aisles. The move - accompanied by a widespread publicity campaign from United and its fans' groups - worked and the council was satisfied safety problems had been reduced. At Sunday's match, they have not sold any seats on the back two rows of the away end, as they offer a severely restricted view, which leads to migration. This has meant United have lost 186 seats, meaning our allocation is 2,814. In order to avoid a return to a sub-2,000 allocation, United fans will need to keep the aisles clear as the blocking of these gangways is seen as a serious safety issue. United supporters' groups continue to work with the relevant authorities and the Football Supporters' Federation to secure higher ticket allocations for the large number of reds following the team away from home and have had a number of successes recently including the higher allocation at Anfield this season after the paltry 1,900 allocation last year. Fans will also be aware that there has been significant interest in the media about offensive chanting and gestures in reference to the Hillsborough and Munich disasters that befell the two clubs. As a consequence, we understand that Merseyside police and Liverpool stewards will be looking to take action against any individuals identified as engaging in this type of behaviour, whether they be United or Liverpool supporters. Given the reaction to Saturday's chants of "always the victims", many United fans have pointed out that the song is not a reference to Hillsborough, which has also been acknowledged by Sir Alex Ferguson at his press conference. However in the current context, regardless of the motivation, it clearly may be perceived by Liverpool supporters, sections of the media, and indeed - judging by feedback - some United supporters, as inappropriate on Sunday. It is not the role of MUST to tell any United supporter how to support their club but we do wish to reiterate the position of our organisation. We agree 100% with the statement made by Sir Alex Ferguson and wish is to leave no room for doubt - we unequivocally condemn chants mocking the Munich air crash, Hillsborough and indeed any other human tragedy.   //ENDS MUST - www.joinmust.org MUST is the independent Manchester United Supporters' Trust, a not-for-profit organisation with 180,000 members stretching around the world Our Inspirational Dream Manchester United FC owned by the fans and run for the fans. Our Greatest Imaginable Challenge To create the opportunity for all United fans to share in the ownership of their club, inspiring the participation of at least one million supporters. MUST is the independent Manchester United Supporters' Trust, a not-for-profit organisation and an Industrial and Provident Society registered with the Financial Services Authority (30024R) under the name I-MUST Limited with offices at MUST, Trafford House, Chester Road, Stretford, MANCHESTER M32 0RS   2012-09-20T13:05:57+00:00 http://action.joinmust.org/index.php/blog/entry/red-to-support-the-team-green-gold-to-defend-the-club/ http://action.joinmust.org/index.php/blog/entry/red-to-support-the-team-green-gold-to-defend-the-club/ [1] SUPPORT THE TEAM, DEFEND THE CLUB [2] Fulham Fans in show of Green & Gold solidarity [3] Equip yourself with a Green & Gold Kit bag - £10 - non-profit   [1] SUPPORT THE TEAM, DEFEND THE CLUB As Manchester United supporters by definition we all support the team - you can take that as RED. But it is at least as important to DEFEND the Club too. Our history, our fans and our future. Green & Gold is a powerful symbol which shows not only do we support the team but we will also stand up to defend the Club. Red to SUPPORT THE TEAM Green & Gold to DEFEND THE CLUB This video slideshow nicely illustrates this in a visual way - please share this with friends on social media. http://youtu.be/k4hrQ1j24HM   [2] Fulham Fans in show of Green & Gold solidarity At the match tomorrow - assuming the Glazers' security don't try to suppress free speech once again - a sizeable number of Fulham fans will be showing Green & Gold in the away section tomorrow. Due to increased ticket pricing Fulham are only expecting to bring about 500 supporters but we expect at least one fifth of them will be attempting to bring in a Green & Gold scarf. That is an incredible gesture for away fans who naturally first and foremost want to support their own team of course. We didn't ask them to do this. They approached us with the idea. This is a tremendous show of solidarity. If a group of away fans can do this United fans should use it as a spur to up our game and rebuild the powerful Green & Gold campaign over the coming season.   Dan Crawford Communications and Media Director of Fulham Supporters Trust said:   "Fulham Fans are grateful for MUST's support during our campaign to return Fulham FC to Craven Cottage. Our own campaign has reached a successful conclusion with the club being granted planning permission expanding the stadium to 30,000.   Like fans at many clubs I've become increasingly concerned over recent years by the activities of owners like the Glazers abusing our clubs and the loyalty of the fans for their own ends. The fans are the lifeblood of any club and parasitic owners like the Glazers are draining that lifeblood away.   Supporter participation in ownership is the way forward to protect our clubs and their fans from exploitative owners.    MUST has run a fantastic campaign so far drawing admiration from likeminded fans of rival clubs all over the world.   The Green & Gold colours are such a powerful symbol - with their historical link going back to the roots of the club and showing fans' desire to defend their club and its history. While we remain rivals on the pitch we wanted to show our solidarity with this campaign and encourage United fans and indeed all fans at all clubs to support each other in the fight for fans to reclaim their clubs." [3] Equip yourself with a Green & Gold Kit bag - £10 - non-profit Whether you are going to the game or watching elsewhere get yourself equipped with a Green & Gold Kit from MUST. Although merchandise is a key source of fundraising for MUST this is entirely non-profit because it is of greater importance to spread the message through Green & Gold. You can get your own Green & Gold Kit for just £10 either at the matchday stall (at number 8 Sir Matt Busby Way tomorrow from 2-3 hours before kick off) or mail order via the MUST shop here This kit contains the following:- A Green & Gold Wristband  A Green & Gold MUST badge A Green & Gold Car 'Kit' Window Sticker A Green & Gold Scarf badge A Green & Gold 'GO' Glazers Out badge A Green & Gold 'GO' Glazers Out sticker Plus your choice of one of the following:- A Green & Gold scarf A Green & Gold beanie hat A Green & Gold Car scarf (subject to availability)   Support the team - with your Red & White. Defend the club with your Green & Gold. The two sit side by side.     2012-08-24T15:02:23+00:00 http://action.joinmust.org/index.php/blog/entry/media-release-must-response-to-robin-van-persie-signing-for-manchester-unit/ http://action.joinmust.org/index.php/blog/entry/media-release-must-response-to-robin-van-persie-signing-for-manchester-unit/ FOR IMMEDIATE RELEASE - Friday 17th August 2012 MUST - the Manchester United Supporters Trust - statement on the news of the signing of Robin van Persie Duncan Drasdo, chief executive of MUST said: "It's really exciting news for us as United fans to see a top quality player, in Robin van Persie, sign for Manchester United. Of course we have always backed Sir Alex Ferguson's exceptional management skills to the hilt so this is great news for our members and Manchester United fans around the world." "Robin van Persie is quoted today as saying 'Manchester United breathes football. This club is the perfect match for me' . That is exactly how we feel as supporters too. We live and breath Manchester United with a passion. We support the team and defend the club through thick and thin. We are looking forward now hoping for a spectacular start to the season at Everton on Monday night and perhaps a debut goal for RVP would be the icing on the cake" ENDS// MUST - www.joinmust.org MUST is the independent Manchester United Supporters' Trust, a not-for-profit organisation with 180,000 members stretching around the world Our Inspirational Dream Manchester United FC owned by the fans and run for the fans. Our Greatest Imaginable Challenge To create the opportunity for all United fans to share in the ownership of their club, inspiring the participation of at least one million supporters. MUST is the independent Manchester United Supporters' Trust, a not-for-profit organisation and an Industrial and Provident Society registered with the Financial Services Authority (30024R) under the name I-MUST Limited with offices at MUST, Trafford House, Chester Road, Stretford, MANCHESTER M32 0RS 2012-08-17T14:24:01+00:00 http://action.joinmust.org/index.php/blog/entry/caption-contest-rvp-gg/ http://action.joinmust.org/index.php/blog/entry/caption-contest-rvp-gg/ Ideas for a caption for the below picture? Please add your suggestions as comments below:     2012-08-16T22:46:58+00:00 http://action.joinmust.org/index.php/blog/entry/what-do-pt-barnum-and-the-glazers-have-in-common/ http://action.joinmust.org/index.php/blog/entry/what-do-pt-barnum-and-the-glazers-have-in-common/ According to Wikipedia, it wasn't the legendary showman PT Barnum who coined the phrase "there's a sucker born every minute", but let's not this question of authorship get in the way of a good story. We've recently come across article in the Wall Street Journal (yet another paper by everyone's favourite Australian media tycoon) in which lawyer Marc Jaffe who helped the Glazers structure and sell the Manchester United to the investment (and whose other clients included the WWE) provides a behind-the-scenes look at the IPO. Jaffe said it was a challenge to sell the club to U.S. investors, who are less versed in soccer than European counterparts and who find the Premier League that Manchester United plays in somewhat opaque. But he said the goal was to convince potential investors that the company was “a global powerful brand a name that meant something off the field.” ... Jaffe said the company chose the U.S., after examining a possible IPO in Singapore last year, because the U.S. offered more liquidity. Apart from his artful explanation of why the Singapore float was abandoned (is it fair to call the objections to the voting structure and general antipathy toward the Glazers' unrealistic valuation a "liquidity problem"?), Jaffe unabashedly trumpets the benefits of the confidentiality of the process. Jaffe also said the recent JOBS Act proved helpful to Manchester United by allowing it to have confidential discussions for months with the SEC. He said he felt other “emerging growth companies” probably have different reasons for using the JOBS Act, but that it helped the 134-year-old Manchester United too. “It was terrific because the minute we filed the press went nuts,” Jaffe said. “For me the ability to file confidentially and have that period of couple of months before going public was a great, great advantage.” In effect what the Glazers have done is exploited a piece of legislation that was very recently passed by the US Government (quite serendipitously for the Glazers) to reduce some of the more onerous requirements for small business to going public under the presumption that this would help these businesses get the capital they needed to get up and running during these difficult economic times, presumably as well because they would create jobs for Americans. The Glazers were rightly excoriated by two of the architects of recent financial regulations designed to add stringency and investor protections, not take them away. In other words, the reduced reporting requirements and the usual smoke and mirrors tactics helped yet the Glazers and their advisors (led by Mr Jaffe) hoodwink even more people. (Curiously, he offers no explanation why Morgan Stanley pulled out as an underwriter. Perhaps they were a little better "versed in soccer"? Or were they the "smart money"?) So... if you were wondering how these IPO things happen, here's a glimpse under the covers. And to those of you who are wondering about the provenance of that quote about suckers being born every minute, we humbly offer this suggestion: Get a copy of Mr Jaffe's family tree. With comments like these there must surely be a genetic link. 2012-08-16T20:09:11+00:00 http://action.joinmust.org/index.php/blog/entry/whats-going-on-with-manchester-uniteds-stock-price-an-update/ http://action.joinmust.org/index.php/blog/entry/whats-going-on-with-manchester-uniteds-stock-price-an-update/ Remember last week when we explained that the banks that had underwritten the IPO (i.e., those who had ensured it would get off the ground) had been artificially holding up the price?Well that all ended today. You can see exactly when on the chart below. It was somewhere around 11.06am Eastern Time (a little after 4pm BST).So what does that mean? It means the market thinks that, for that price, the club is overvalued. By some analysts estimates, fair value is only $4.97 a share! This would imply an £895 million enterprise valuation (which is a valuation that includes the debt) or £535 million equity valuation (which is just the available float times price) at current exchange rates.Remember too that this doesn't hurt the club's finances. It hurts the Glazers as they are starved for cash and potentially hastens their departure.In the immortal words of the Sage from Springfield, who knows slightly less than the Oracle of Omaha: 2012-08-16T19:03:49+00:00 http://action.joinmust.org/index.php/blog/entry/rip-lord-alf-morris-must-patron/ http://action.joinmust.org/index.php/blog/entry/rip-lord-alf-morris-must-patron/ The Board and Committee of MUST would like to pass our condolences to the family of Lord Alfred Morris. A tireless campaigner for those less fortunate, he will be missed.Story in the MENLord Morris, Patron of SU and MUST 2012-08-14T16:51:36+00:00 http://action.joinmust.org/index.php/blog/entry/whats-going-on-with-manchester-uniteds-stock-price/ http://action.joinmust.org/index.php/blog/entry/whats-going-on-with-manchester-uniteds-stock-price/ We've been receiving a number of questions from supporters about the launch of the IPO, and in particular (a) what it meant that the opening price was lower than what the Glazers wanted and (b) what it meant to say that the banks were holding up the price. Here's an explanation.Where would Manchester United's share price have ended up without artificial support of the underwriters? The answer is surely far lower than where it is after the first day of trading.Following an opening that can only be described as a huge black eye, Manchester United teeters on being the next "Facebook" as its readies for its share price to start falling. Only the deliberate backing of the banks who brought the Glazers’ public kept the stock from plunging below the $14 per share opening price.What happened?The Glazers' rip-off of an IPO has been widely reported in the media over the past two weeks, in large part thanks to your phenomenal efforts alerting the banks and the press to its facts. Our advisers have been telling us privately that they've never seen an IPO sustain the battering that the Glazers took and still launch, but this tells you something about their desperate need for cash.The stock started trading at a price of $14 per share. Almost immediately investors started selling. In principle there should have been an oversupply of United shares, which would have driven the price down. Yet on Friday there was always a willing buyer at $14 per share. These buyers are surely the underwriting banks, the ones who helped the Glazers get the IPO launched. By scarfing everything up at $14 a share they prevented the even worse debacle of an opening day price job.You can see this in the chart below. It's like a stone skipping across a lake. At some point we believe it's going to sink.We now await the end of the artificial price support from the underwriting banks. When their false support fails, the market will give its guidance on a realistic valuation. We expect this to be far below the Glazers’ initial pipe dream of $16, and perhaps at a low enough level ($8-$10 per share) where it becomes a takeover target.What is a realistic valuation?The real valuation of Manchester United should prove considerably lower than the baseless valuations that have appeared over the years in the papers from nameless sources. The initial offering price of $14 is already well below the Glazers’ hoped-for price of $16-$20. What is truly remarkable is that every serious investor or journalist who has commented on the price has said it massively overvalues the company.Those who have cravenly defended the Glazers remain loath to speak to any facts and deal solely with the hypotheticals that emanate from the Glazers own spindoctors.The most thorough analysis we're aware of is this Morningstar piece estimating fair value to be $10 per share, but even this is caveated and could be lower depending on Club performance. If a $10 per share price is more realistic, this would value Manchester United at around £1 bn or lower, putting it squarely in the frame as a possible takeover target.EDIT: Just after posting this we because aware of the PrivCo analysis in which they value United at $4.97 per share based on the company's fundamentals and the performance of sports teams generally! We've linked to this at the very bottom of the post.Some commentators are now drawing comparisons with the disastrous Facebook IPO and the same ultimately futile defence put up by underwriters. Facebook now trades at a much lower level, reflecting a price that a broad array of investors feel is more legitimate. While the Financial press have recognised these similarities, this story has not been covered in any mainstream media. Again, the Club pays for the Glazers’ greedIn their damn-the-torpedoes strategy, the Glazers ploughed on with the IPO earning roughly $110 million for themselves immediately. Meanwhile, as described in this analysis by Andy "andersred" Green, Manchester United (the business) will be required to pay the fees of the IPO. In fact, it will be two years before United begin to "benefit" from the flotation, yet the Glazers get their money straight away. This will be coming as a surprise to no-one.Below are links to stories that provide additional information.Wall St Journal: Manchester United IPO Fails to Excite the Crowds"For most of the afternoon, the share price toggled between $14.01 and $14, an indication that the underwriting syndicate, led by Jefferies Group Inc., JEF -1.05% was supporting the stock. Underwriters can step in to buy shares in an effort to keep a deal from "breaking," or sinking below its IPO price, but there is no set amount of time that they will continue to buoy the shares beyond the first day of trading. Both Manchester United and Jefferies declined to comment about whether the stock was being supported." http://on.wsj.com/P4XeVJFT: Underwriters had to step in to support Manchester United as shares in the British football club repeatedly tested their $14 listing price after their debut on the New York Stock Exchange on Friday. That came after shares were priced below the expected $16-$20 range on Thursday. Man United shares ended up 0.1 per cent to $14.20. http://on.ft.com/P4FutnAFP: Manchester United shares flat after cut-price IPO"Analysts said underwriters were propping up the shares on the New York Stock Exchange to keep them from dropping below the issue price."http://yhoo.it/P4X4h7MarketWatch - The Wall Street Journal: Manchester United Being Supported At Offering Price By Underwriters http://on.mktw.net/P4EHbTdealbreaker.com: Manchester United IPO Goes Nowhere In Exciting Fashion"guess the stabilization strategy of an overhyped IPO"http://bit.ly/P4F7iyNew York Post:"Underwriters were forced to prop up the price amid slack demand, according to reports, an uneasy reminder of Facebook’s underwhelming May 17 debut." http://nyp.st/P4DbXkPREMARKET INFO: It’s the underwriters versus the HFT rebate traders.  We’ve got a real soccer match here, and the result….a locked stock price.  Analysis of the HFT tractor beam in MANU:http://bit.ly/MmKxp1Zerohedge:"... the underwriters of the MANU IPO are 'pulling-a-facebook' ..." http://bit.ly/OYzqCSPrivCo report:If the stabilization bids used to support the overvalued IPOs of Zynga and Facebook are any indication of what will happen with Manchester United, Monday might prove to be a very rough day. PrivCo CEO and Founder Sam Hamadeh stated, "The magnitude of the overvaluation of ManU's IPO - and therefore the potential for a disastrous collapse in the company's stock - is reminiscent of IPOs from Zynga and Groupon."http://bit.ly/Okoel8 2012-08-12T21:54:26+00:00 http://action.joinmust.org/index.php/blog/entry/glazers-man-united-ipo-the-659-million-fan-scam/ http://action.joinmust.org/index.php/blog/entry/glazers-man-united-ipo-the-659-million-fan-scam/ Manchester United Supporters’ Trust calls on owners to come clean over IPO numbers - 659 million fans - are you having a laugh?   For immediate release, Wednesday 8th August   The Manchester United Supporters’ Trust, the independent voice of Manchester United fans in more than 100 countries, has today called on the owners of Manchester United Ltd. to come clean on the numbers they are using to promote their proposed Initial Public Offering (IPO). Speaking on the eve of the proposed share sale in New York, MUST is championing the interests of potential investors by making two demands of the Glazer family:   1. To substantiate on what basis they are claiming 659 million followers (also confusingly referred to as fans in the IPO video presentation) around the world. Investors should be able to see the source material of the "independent research" the club’s management are citing, published in full. Our understanding is that far from being independent the survey was actually commissioned and paid for by Manchester United. What EXACTLY is their definition of a follower? And a fan? These numbers have been widely criticized including by independent authorities on the matter such as Sporting Intelligence (see article below)   2. To disclose current take-up of season tickets and club memberships for the 2012/13 season. The club has claimed in its prospectus and investor roadshow that 80% of match tickets are sold at the start of the season, and the club can claim '99% occupancy' of seats for all games. Other sources suggest a continued fall in demand and that is certainly the experience of supporters trying to sell on unwanted tickets which often now go to waste or end up being given away.   The owners must answer these key questions about the figures being used to promote their IPO and clearly these are figures that could materially impact on perceived valuation of the company. Failure to do so could well leave them open to a post-IPO class action law suit by disgruntled investors if these figures turn out to be misleading. A spokesman for the Manchester United Shareholders' Trust, commented: "We have made it clear that on the Glazers' terms, the share sale is a bad deal for fans, investors and the club. For the club, this is a bad deal because more than half of the funds raised will now be paid direct to the Glazer family, with a smaller portion being used to pay down some of their debt which they have saddled the club with since 2005. For fans, it is a bad deal because it is a missed opportunity for more equitable ownership of our club, with proper distribution of voting rights; and by floating shares at this inflated price, it provides a poisoned pill which might deter any more enlightened owners from buying the club in future.   Yet above all this share sale is a bad deal for investors – to whom we'd say 'buyer beware'. Not only are the shares overpriced, coming with minimal voting rights and poor corporate governance – but we are highly doubtful of the misleading marketing claims of the club's management, upon which their highly ambitious float price is predicated. The club is claiming that 659 million people - one in ten of the world’s population – is a United follower. To put that in context, Facebook has 901m users. While we’d love to think so, in reality I doubt if one in ten people in Stockport, let alone Jakarta, supports United actively to the extent they would pay money to the club. The club should justify that figure and clarify how it is counting 'fans' and 'followers'.   Secondly, we feel the club should give proper guidance on ticket sales. United season ticket holders and members who have been contacted by  the club recently will know it has had to try harder than ever before to sell tickets – not least because of the economic situation, and the inflation busting price rises particularly under the earlier years of the Glazers’ ownership.  Match-going United fans continue to be the commercial lifeblood of the club, but we will not have our loyalty milked so contemptuously forever – and we are sure broadcast partners and investors will not want to see empty seats in Old Trafford this season. Again, we’d like to see the club come clean on its claims."   A recent article published by respected analysts Sporting Intelligence on 7th June dismantles the Glazers' claims of 659 million followers/fans & correctly predicts (two months prior to it happening) the commissioning of the survey would be linked to another IPO attempt.   Full article here: http://bit.ly/MJ25rm   United fans wishing to register their opposition to the terms of the proposed share sale and IPO can join MUST at  www.joinmust.org 2012-08-07T21:22:01+00:00 http://action.joinmust.org/index.php/blog/entry/must-launches-viral-infographic-attacking-glazers-mufc-float/ http://action.joinmust.org/index.php/blog/entry/must-launches-viral-infographic-attacking-glazers-mufc-float/ Please share the infographic below on Facebook, Twitter and email. Below is the press release sent out today:   FOR IMMEDIATE RELEASE - Tuesday August 7th 2012 MUST - Glazers' infographic   As part of its continuing pressure on the planned Glazer family New York IPO MUST - The Manchester United Supporters Trust has released an INFOGRAPHIC highlighting some of the hard financial facts surrounding the IPO and Glazer ownership of Manchester United in general. Key facts and figures are bought to life visually and graphically. A spokeman for MUST commented, "This is a highly effective way of getting across some of the negative aspects of the Glazer's ownership and the IPO in general - and though the presentation is light hearted this is no laughing matter for Manchester United's global fan base". "This is just another way of telling the story that the Glazers' New York flotation plans for Manchester United are bad news for investors, the club and fans and demonstrate just how much ownership by the Glazer's has cost the club". "We had to tone it down a little - some of the ideas we thought about were incredibly popular with the development team but probably not totally in good taste" "The facts alone are disgusting enough for any red to the core United fan and we must do all in our power to defend our club against the consequences of this flotation plan". "We're appealing to the millions of United fans around the world to join the MUST campaign through our website www.joinmust.org to send a powerful message to the Glazers, their bankers and their sponsors. Over half a million messages (currently 519,737 and counting) have already been sent to the Glazers' bankers and now fans all around the world are turning their attention to the sponsors too" Notes: The infographic is free to publish and is available below or download online here: http://action.joinmust.org/page/-/images/manchester-ipo-yellow.png Sponsors SpeakOut: http://bit.ly/Mp7QtB IPO Banks SpeakOut: http://bit.ly/QpHSLV Open Letter to Glazers: http://bit.ly/N99IL9 MUST - Glazers' IPO infographic                          2012-08-07T09:27:47+00:00 http://action.joinmust.org/index.php/blog/entry/message-to-sponsors-do-you-really-want-to-be-associated-with-the-glazers/ http://action.joinmust.org/index.php/blog/entry/message-to-sponsors-do-you-really-want-to-be-associated-with-the-glazers/ On the back of our campaign targeting the IPO banks (you sent over HALF A MILLION messages!) we're moving on to the sponsors. Sponsorship is a tricky subject, so let's be clear: MUST are not against commercial tie-ups. They provide a source of income for the club. The problem is that the majority of these funds are not being reinvested in the club. Instead they are wasted in interest on the self-inflicted debt or, worse, they go straight into the Glazers' pockets.Our goal with this campaign is to explain to potential sponsors that their association with the Glazers puts them on the wrong side of the equation. If you’d like to participate in the campaign, go to http://action.joinmust.org/clubmoneyPlease help us by alerting your friends and contacts via Twitter, Facebook and whatever other means you have.A copy of the email the sponsors will be receiving is below. Let us know what you think in the comments.I am one of the millions of Manchester United fans you’ve been told about. Manchester United has told you I’m devoted to the club and, by association, I will therefore be devoted to you. They’ve got half of that right.I do care passionately about my club. What they aren’t telling you is that I am angered by the on-going actions of the Glazers, the team’s owners. By association, I’m not going to be so fond of you.The Glazers are using the money you’ve paid them to line their own pockets. Very little of your sponsorship money will benefit the team, the club or the fans.You are effectively helping the Glazers in their quest to bleed our club dry.For this reason I will never, ever, be loyal to your brand. In fact, as long as the Glazers remain in control and you do business with them, I’ll see you as part of the problem and will be avoiding your brand.What can you do?Talk to the Glazers.Explain to them how to treat their customers and shareholders.You know how important it is for a modern business to have a constant dialogue with its customers.Ask them why they haven’t met or spoken with us about our legitimate concerns despite promises to do so in the seven years since they took over. You know how important it is to offer value to shareholders. Ask them then why they are about to launch an IPO where over half the proceeds will go into their own pockets, where ordinary shareholders are treated with disrespect and offered neither dividends nor real voting rights.You know that good business strategy requires attending to the health of the business.Ask them why, then, your sponsorship fees are being used to prop up their failing business empire and make them personally wealthy.The Glazers are right about one thing. We are fiercely loyal to the club. We will never cast this loyalty aside when it comes to supporting and defending United. We will therefore do what we can to defend the club from the Glazers and their partners.You should understand that by working with them the value of your sponsorship and expected ROI is limited.But you have the power to change that. Thank you. 2012-08-06T23:25:11+00:00 http://action.joinmust.org/index.php/blog/entry/must-open-letter-to-the-glazer-family/ http://action.joinmust.org/index.php/blog/entry/must-open-letter-to-the-glazer-family/ An open letter to the Glazer family, owners of Manchester United Football Club, from The Manchester United Supporters' Trust, representing United fans in over 100 countries. 6th August 2012Dear Glazer Family,Despite your promises when you took control of Manchester United Football Club in 2005 you have consistently refused to speak to fans.This open letter is our only guarantee you will hear our voice.Your leveraged and hostile takeover has cost in the region of £520million in debt related interest, repayments and fees, and the current balance sheet still shows debt of over £430million so in total your ownership has cost the club a staggering £360,000 or so a day.Included in those sums are the many millions you have taken personally.You have openly admitted your model of ownership is unsustainable and that this level of debt is harmful to the future success of the club. We are currently lobbying your IPO advisors and have called for a global boycott of sponsors’ products.The only core revenue stream directly in your control - commercial sponsorship may have grown during your tenure but the opportunities to sweat your asset are finite.Long term you are eroding brand value and fan goodwill and operating profit has been falling over the past three years.More worryingly the ability to invest meaningfully and competitively in the team is being restricted.We support the players individually, the manager wholeheartedly and the team unconditionally but we can never accept your ownership as being anything but bad for the club.The club needs to return to its pre-takeover debt free status as quickly as possible, where profits are used to invest primarily in the team – especially in youth development, the stadium, the local community and building on the club's historic legacy.We call on you now to cancel the planned IPO and structure a full float, with a single class of full voting share - or to willingly offer the club for sale at a realistic price.We would support a flotation wholeheartedly and encourage the global fan base of Manchester United Football Club to take such an historic opportunity to secure a meaningful fan ownership stake where the priorities of the club are the same as the fans – not absentee owners.We invite Manchester United supporters around the world to come together – register interest with MUST through our website www.joinmust.org to help create the future Manchester united we all want to see.Duncan Drasdo, MUST CEO @DrasdoGerald Shamash, MUST Chairman MUST. The Manchester United Supporters Trust www.joinmust.orgManchester, UK. 2012-08-06T08:15:25+00:00 http://action.joinmust.org/index.php/blog/entry/putting-pressure-on-the-banks/ http://action.joinmust.org/index.php/blog/entry/putting-pressure-on-the-banks/ Today we launched a new campaign to put pressure on the IPO banks and potential investors in the Glazer IPO.As 38 degrees did against the Olympic Tax Dodge, we have organised an email/social media campaign designed to shine a bright light on supporters’ opposition to the rip-off their IPO represents.If you’d like to participate in the campaign, go to http://action.joinmust.org/fairsharePlease help us by alerting your friends and contacts via Twitter, Facebook and whatever other means you have.A copy of the email the bankers will be receiving is below. Let us know what you think in the comments.I am a passionate Manchester United Football Club supporter. I have been for most of my life.The club is in my blood. I doubt very much it is in yours but you are now playing a part in my team’s history – by advising the Glazer family on the forthcoming NYSE IPO.You know this IPO is going to be bad for business.You know the valuation is high. This isn’t a tech company. It’s not an “emerging growth” company. It’s a sports team, one already at the high end of the scale.There’s no meaningful control. There’s no dividend.There’s no value in these shares.The only potential ROI is if the club’s fortunes improve. How is this going to happen with the Glazer family already planning to extract $150 million from the proceeds. Do you think they’ll stop there? They’ve already cost United nearly $800 million in fees and interest.There’s no upside to this.There’s no value to institutions or to retail investors when owners treat their company and customers like an ATM.Meanwhile, Sarbanes and Oxley are having a good laugh as the classification of the business and how it makes a mockery of the JOBS Act. It's an election year, too.Given current perceptions of the banking industry, are you really sure you want to be holding this bag?It’s not just fans like me who are watching. It’s your entire industry, the journalists who cover it and the Senators and Congressmen who regulate it.Step away from this.If you want to invest in something, we want to provide a different vision.We want meaningful fan ownership, a club run in its best interests. Where commercial revenues are reinvested and don't walk out in the pockets of absentee owners who want to use the Company as a private piggybank.We believe this vision is attainable. If this vision appeals to you as well, contact MUST.Thank you. 2012-08-03T19:44:55+00:00 http://action.joinmust.org/index.php/blog/entry/manchester-united-fans-begin-glazer-sponsors-boycott/ http://action.joinmust.org/index.php/blog/entry/manchester-united-fans-begin-glazer-sponsors-boycott/ FOR IMMEDIATE RELEASE Friday August 3rd 2012MANCHESTER UNITED FANS BEGIN GLAZER SPONSORS’ BOYCOTTThe Manchester United Supporters Trust (MUST) has today (August 3rd) called for a worldwide boycott of Manchester United sponsors’ products, with support across the UK, Europe, Asia and the US.With members in over 100 countries and additional support from locally based fans groups in places such as India, Indonesia and USA MUST has instigated the initiative in response to the planned New York IPO.All the club’s sponsors are being targeted and a mailing programme based on the technology used in President Obama’s previous election campaign is being utilised.The Manchester United Supporters Trust has strongly opposed the Glazer family ownership which sees the club £430million in debt and has cost it a further £520million in fees and debt repayments.The planned IPO was initially intended to raise funds and to use all those proceeds to pay down some of the debt but in a u-turn the Glazer family now plan to take half the proceeds for themselves.The boycott strategy is intended to send a loud and clear message to the Glazer family and club sponsors that without the support and purchasing power of the fans - the global strength of the Manchester United brand doesn’t actually exist.It is hoped sponsors will put pressure on the Glazer family to reconsider their plans.It is also hoped the companies advising the Glazers on the IPO, and potential investors themselves will recognise that without the full support of fans going forward there are too many uncertainties in meeting the IPO prospectus’ claims on revenue streams.A spokesman for MUST commented.“Essentially the IPO is bad for investors, the club and the fans.”“The Glazer family sell the rights to our loyalty and devotion for the club to sponsors for many millions but then use that money to pay off their self imposed debt”.“It has to stop and we want the IPO shelved and a proper fan ownership model put in place - one share, one vote”.“Our actions are no different to the marketing tactics used by all the clubs sponsors anyway - we’re just executing it in another way. Their efforts are mostly about brand switching and ours are too - we’re just saying more overtly - don’t use those sponsors products - and the sample of fans we’ve spoken to around the world believe this is the right approach”.“Even without this approach, allowing the Glazer’s to continue running the club unchecked is bad news for sponsors. Less funds for the club (because of servicing current debt levels) means less investment in the team and that could impact on sponsors being associated with a winning, successful team. That would be like sponsors watching their own ROI diminish”.Manchester United Football Club sponsors include:AON, DHL, BWIN, Casillero Del Diablo Wines, Hublot, Smirnoff, Mister Potato, Nike, Chevrolet, Singha Beer, Thomas Cook, Turkish Airlines, Epson, STC, PCCW Telecommunications, GlobalCom, Viva Kuwait, MTN, Airtel, Zong, Globul, TM Telecommunications, Viva Telecommunications, Turk Telekom, A.P. Honda, Airtel Africa, Beeline Telecommunications.There has been a surge in consumer power recently with shareholder revolts at Aviva, Barclays, Reckitt Benckiser and even marketing services group WPP.The clothing and retail brand Gap performed a u-turn on a proposed new corporate identity following a customer backlash and the US fast food chain Chick-fil-A is currently experiencing a consumer revolt. 2012-08-03T13:32:51+00:00 http://action.joinmust.org/index.php/blog/entry/glazers-massive-u-turn-on-mufc-ipo-as-they-claw-off-more-than-half-of-proce/ http://action.joinmust.org/index.php/blog/entry/glazers-massive-u-turn-on-mufc-ipo-as-they-claw-off-more-than-half-of-proce/ The Glazers have tonight revealed a massive u-turn in their IPO proposals. In the original filing it was made absolutely clear that ALL of the proceeds of the IPO would go to paying down debt the Glazers have loaded onto Manchester United. A revised filing tonight http://1.usa.gov/NExsII reveals they now plan to take HALF OF THE IPO PROCEEDS FOR THEMSELVES. Furthermore the amount raised to pay down debt will be relatively insignificant (£75m) leaving £350m of their debt still on our club. A spokesman for the Manchester United Supporters Trust said "Supporters are going to be very angry about this. The Glazers have already cost United more than £550m in debt related fees and now another slap in the face as they help themselves to half of the proposed IPO proceeds. Each of the 6 lineal descendants of Malcolm Glazer will claw out $25 million for themselves." "Clearly this has nothing to do with benefits for Manchester United and is all about giving the Glazers quick access to desperately needed cash at the expense of our football club. What is the sudden reason for this desperation for cash now?" "There is now no doubt that this IPO is bad for Manchester United supporters, Manchester United Football Club and any investors gullible enough to pay the inflated price they've attached to inferior shares which have just 1/10 of the voting rights of the Glazers shares and no dividends. Their bare faced cheek is almost unbelievable." "We call on all the real fans of Manchester United around the world to join MUST in opposition to this IPO and we're asking supporters to register through our website here  http://bit.ly/NEyAMw  if they wish to take action." We will follow up with further comments and analysis tomorrow. Contact details at the foot of this message ENDS MUST - The Manchester United Supporters' Trust Our aim is to provide Manchester United fans with the opportunity for mass supporter participation in ownership of their club. This could well be the precursor to such an opportunity and we’d urge every Manchester United supporter who cares about the club to register with the Manchester United Supporters Trust (MUST) through our website. We will provide information to supporters as soon as it is available.  We’d like to see at least a million Manchester United supporters sharing in ownership of their club and it is our role as the official supporters trust to try to make that possible. Supporters can register for free through www.joinmust.org for information. 2012-07-30T21:27:11+00:00 http://action.joinmust.org/index.php/blog/entry/sunday-times-trashes-glazers-manchester-united-ipo-prospectus/ http://action.joinmust.org/index.php/blog/entry/sunday-times-trashes-glazers-manchester-united-ipo-prospectus/ Every United supporter (and any potential MUFC share purchaser) should get a copy of the Sunday Times today - business section: The Sunday Times July 29, 2012 at 7:06 am    Michael Moritz is a top Silicon Valley investor — and a Manchester United fan. He offers an alternative reading of its float prospectus   WE recently changed our corporate name from Red Football LLC to Manchester United Ltd because we thought the former might be considered un-American and confuse prospective purchasers of our shares with the former Soviet Union’s national team.   Our business is a globally recognised brand and we estimate 10% of the world’s population follow our football team. For our entire 2011 fiscal year our revenue was $513m (£326m) — roughly equivalent to the revenue Google generates every five days.   Our club is being listed in New York because legal and regulatory restrictions are more favourable to people who place enormous amounts of debt on companies than in other venues we have considered — such as London, Singapore and Hong Kong.   We have more than $1 billion of debt due within the next 220 weeks that we have no means of repaying. All the assets of the club have been mortgaged against these debts, including our training ground and even our interest in a small freight warehouse.   Since July 2008, we have paid $792m in interest and other finance costs which is more than Sir Alex Ferguson, our distinguished manager, has paid for all the players he has purchased during the past 20 years.   Because we are so desperate to raise money, our corporate tax rate will rise from the 27% levied in the UK to the 35% required in America.   Our legal structure ensures the Glazer family, our main shareholder, will maintain absolute control over the company after the offering. Between 2001 and 2009 our club paid the Glazers a total of $25m in fees and gave them a $15m loan.   Our executive co-chairman, Avram Glazer, was previously the chief executive of Zapata Corp, a fish-oil producer, that once attempted to become an internet company by changing its name to Zap.com. Zapata was bought in 2009 by Philip Falcone of Harbinger Capital who, last month, was charged with securities fraud by the Securities and Exchange Commission.   Our business model is to help the Glazer family, our controlling shareholder, stay one step ahead of the banks. We employ a variety of approaches to achieve this including:   Raising ticket prices. Between 2005 and 2011 we were able to raise the average ticket price by almost 6% a year, which was almost double the rate of inflation in the UK during the same period.   Increasing sponsorship revenue. Guests of our corporate sponsors, such as Nike, DHL, Aon or Turkish Airlines, will soon be able to view our players’ private training sessions. We used to conduct these activities in strict privacy. Boosting merchandise sales. Our new team shirts (which differ for home and away games) sell for $85. We sell many other branded products including car air fresheners, short nighties for women, four-poster bed canopies and a special men’s fragrance — Eau de Sport.   The competition for player and management talent in the Premier League is intense and our rival owners includes Russian oligarchs, Middle Eastern sovereigns, Indian chicken farmers and American hedge fund managers. Some of these have access to cash — which, unless this offering is successful, we do not.   Fortunately we don’t have to comply with the same reporting obligations as other public companies because our business qualifies in America under the newly passed Jobs Act as an “emerging growth company”. We emerged 134 years ago and in the past nine months our growth was 6%. The word “company” does apply to our club — although in a limited manner.   Old Trafford, our home ground, is called “The Theatre of Dreams”. Prospective purchasers of our stock will understand why.   Michael Moritz is chairman of Sequoia Capital   2012-07-29T19:31:13+00:00