• Manchester United Message Board

  • A Yahoo! User Sep 4, 2008 23:55 Flag

    Can United compete with City in the future?

    ....and more importantly are the Glazers and their partners true billionaires or are they just millionaire investors?

    The Glazer's net worth is $2.5 billion, but what the real figure is uncertain.

    The Glazers have a portfolio of investments which include food service equipment, food packaging and food supplies, marine protein, broadcasting, health care, property, banking, natural gas and oil, the Internet, and stocks and bonds.

    Malcom Glazer owns 7 million square feet of retail space in 67 shopping centres in 15 US States, and in 1989 he tried to buy the Harley-Davidson motorcycle company. Glazer also owns a company called Zapata Corporation that was started by the father of US president George W. Bush, so I would imagine he is well connected!

    Malcom Glazer bought the Tampa Bay Buccaneers after it had notched up a long string of losses both financial and on the pitch. He spent millions on players and broke the record for a coach, paying Oakland Raiders $8m for Jon Gruden. Gruden helped the Buccaneers win the Superbowl in 2003.

    The principle backers of the Glazers take over of Manchester United were AIG of New York who own Ocean Finance in the UK and a share of London City Airport. AIG operates in 130 countries and serve commercial, institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurance company in the world, and AIG is the largest underwriters of commercial and industrial insurance in America. They have an annual income of $110 billion and assets of $1,060 billion.

    I think yes!

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