GLAZERS SET TO MORTGAGE UNITED'S ENTIRE FUTURE

Last updated : 03 July 2006 By Editor

An excellent Wall Street source writes:

"Just learned on the financial grapevine that a UK bank has been mandated to put together the financing package for the stadium. Gate receipts and other merchandising income is likely to go into the pot and be sold off to financial investors. Get ready for another ‘Emirates Stadium' type rebranding."

Such a 'mortgaging' is exactly the sort of deal which Leeds ventured into before they hit such trouble. If verified this would (along with confirming what BackBeat reported back in April in RI 98) ensure that the Glazers' weasel way with words is exposed once again. This from their infamous MUTV monologue last July:

- What is your response to the allegations you are going to sell and lease back Old Trafford?

"Absolutely ridiculous! That's been one of the real frustrating things we've read about and you just want to communicate directly that that's not going to happen. There are absolutely no plans to do that. This is the heritage and the real foundation of this club so there is no thought process whatsoever to be doing that."