Alan Harper's Tash
Well-Known Member
- Joined
- 12 Dec 2010
- Messages
- 59,573
I think they saw Ronaldo as their “Soccer Tom Brady”.Woodward did a great job for the Glazers.
He orchestrated the leveraged buy-out, he‘s made them many millions and they’re well chuffed with him because they’re not in it for the glory they’re in it for the money.
If their main aim was footballing success then they wouldn’t have employed him but their main aim was filling their coffers and that’s why they employed him in his capacity as a cut throat investment banker.
A prime example is the Ronaldo contract. It was nothing to do with football and everything to do with temporarily maximising the share price to enable the Glazers to take advantage.
The Glazers wanted money to buy an Indian professional cricket team to expand their sports empire. Woodward organised a share sell off and took Ronaldo onboard to give a lift to the share price so that the Glazers could take advantage of the temporary hike.
Ronaldo goes through the door, the share price goes up, Glazers push out the already arranged share sale and take a bundle of money and buy the cricket team then the share price subsides again.
If they’d had a CEO who understood football and wanted to win honours then he’d have refused to take the old crock and the Glazers wouldn’t have their multimillion pound Indian cricket club.
It worked for them in the NFL, so tried it here, and failed.