i love how he thinks he's got one on us when we've just sat back and let him spout tosh.
A couple of important snippets from this:
<a class="postlink" href="http://www.fundinguniverse.com/company-histories/Manchester-United-Football-Club-plc-Company-History.html" onclick="window.open(this.href);return false;">http://www.fundinguniverse.com/company- ... story.html</a>
Newton Heath was renamed Manchester United in 1902. By this time, business and football had become inseparable. Local businessmen and newspaper publishers sponsored the games while entrepreneurs organized teams as limited companies. Brewer J.J. Davies invested heavily in the Manchester United when it was threatened by bankruptcy. He provided funds to build playing grounds at Old Trafford, which was completed in 1910. The same year, the club, then known as "moneybags United,' was reprimanded for questionable financial reporting. The team won a couple of First Division championships before World War I and the FA (Football Association) Cup in 1909.
Football became a £4 million a year industry in the 1940s. Old Trafford was rebuilt and in 1948 Manchester United was valued at £100,000. The team Busby assembled that year cost £7,750 in transfer (signing) fees. Busby was also managing the British Olympic team.
The league champion team of 1956-57 cost £79,000 in transfer fees. Manchester United developed a trademark, attacking style as Busby imported European playing techniques. Manchester United players also played on the English national team for the World Cup.
On Munich:
With the tragic news, however, came unprecedented public recognition and sympathy for Manchester United. (and over 50 years on, the club are still exploiting it).
For a time Busby, who was himself seriously injured in the crash, swore off football. When he returned, he had to rebuild the team by buying players. The transfer fees he paid set records. He signed Albert Quixall from Sheffield for £45,000 in September 1958 and made several other £30,000 acquisitions in the next few years.
The maximum wage was abolished in 1961 and transfer fees kept climbing. In 1962 the club paid an Italian team £115,000 for Denis Law, then a staggering amount. The teams Busby assembled in the 1960s were full of exuberant, charismatic individuals that played to the "pop' spirit of the times and drew crowds of 50,000 at Old Trafford. Players like George Best, who picked up the name "El Beatle' abroad, became media stars. The team won the FA Cup in 1963; other championships followed. Manchester United finally won the European Cup, the premier European competition, in May 1968, becoming the first British team to do so. Busby was knighted afterwards. So basically United paid more money than anyone else in the transfer market and then people came to watch these expensive players...
Before he did, he bought the lease on the team's souvenir shop. Louis Edwards, a meat trader picked for the board by Busby, had become chairman in 1962. He had also become the owner of Manchester United Ltd.
He resigned a year later after the team gave £2 million contracts to Bryan Robson and Remi Moses. When Busby had started as a player, the maximum wage was £5 a week. Martin Edwards, son of Louis Edwards, was made chairman in 1981.
Initially, his hands were tied in acquiring expensive players, although in the summer of 1989 Ferguson got approval to spend £8 million on transfer fees. (Martin Edwards had found a buyer for the club in August, Michael Knighton, who was, however, unable to raise the £10 million to complete the purchase.) Despite the spending, the club fared poorly in 1989-90, and Ferguson's job seemed in jeopardy until the next year, when his expensive team started winning.
On the Premier League...
(This league was formed by top clubs to give them a larger share of TV revenues.) At the same time, football popularity was at an all-time high worldwide.
When Martin Edwards could not sell the club, he recruited executives who made it the most profitable team in the U.K. It began trading on the London Stock Exchange in 1991. In 1992-93, Manchester United Football Club plc had an operating profit of £7.3 million on a turnover of £25.2 million, thanks largely to merchandising and brand extensions such as Champs Cola, which were worth £5.3 million, up from just £828,000 five years earlier. Besides soda, the club was soon branding lager, wine, even champagne. Selling the brand seemed to observers a more stable source of income than relying on winning games week after week. The club opened a Megastore at Old Trafford in 1994 and spent heavily (£13 million) to upgrade Old Trafford. In July 1993 the club paid a record £3.75 million transfer fee for midfielder Roy Keane.
By the late 1990s, the club was selling or helping to sell cellular phone service. It was in a 16-year, £24 million deal with electronics maker Sharp and a five-year, £743 million deal with Rupert Murdoch's broadcasting arm BSkyB and the BBC. In 1997 it launched its own television channel, MUTV, in cooperation with BSkyB and Granada Media Group.
BSkyB offered £624 million for the club in September 1998. The bid was upped to £1 billion, but blocked by the Monopolies and Mergers Commission on the grounds that Murdoch was so powerful broadcasting sports worldwide that the deal would be unfair for competition.
Manchester United Football Club plc continued to enter new territory with its commercial exploits. In 1998 the team launched an online store sponsored by Lotus and Sun Microsystems. It also reached out to a large band of supporters in Asia. In the spring of 1999, Manchester United International, a new subsidiary charged with developing the brand abroad, began selling its Manchester United Premium Lager there and opened a huge leisure center in Hong Kong. The club was planning several other complexes in Asia.
Manchester United continued to pay record transfer fees to maintain its winning tradition: £12.6 million for Dwight Yorke in August 1998. Nevertheless, Manchester United Football Club plc seemed like a money-minting machine in the late 1990s. Its very success prompted the keenest criticism from those who felt true football fans were the ones who stayed with their teams through thick and thin.