Sir Alex Ferguson today launched a forthright defence of the policies of the Manchester United owners, the Glazer family, and insisted that the club's spiralling debt had no bearing on his refusal to enter the transfer market during the January window.
The United manager was adamant he had money to spend if he so wished and said the club's plans to raise £600m via a bond issue to help tackle their £699m debt were a positive development that would strengthen the financial position.
"The bond issue is a good thing for the club; I think anything that helps with repayment of debt is a good thing," he said. "There is debt there but it has never interrupted my plans for the team at any stage. I don't have any concerns about the financial situation. I have absolutely no issue at all with the club's finances and I am really confident about that."
He added that his day-to-day running of the club had not been impaired by Old Trafford's burden of debt, which has increased from £540m in 2005, the year the Glazer family took control from the old plc. In the year up to June 2008 United paid £69m in interest alone.
Despite widespread scepticism, Ferguson maintained that the first instalment of the £81m United will receive for the sale of Cristiano Ronaldo to Real Madrid last summer is still available to him.
"No, believe me, there is no impact," he said. "I have all the money I need; the money is available. If I wanted to buy someone, I could get the money. The concerns are down to the fact that I have not moved in the transfer market but that is nothing to do with the Glazers, it is simply because I am not going to pay £50m for a striker who is not worth it."
In the past, Ferguson has joked that he was unconcerned by the way the Glazers have loaded United with debt because he would not be around to deal with the consequences. He has always backed the family whom he has found easier to deal with than the plc board and who, unlike Roman Abramovich at Chelsea and the Abu Dhabi United Group who run Manchester City, have not interfered in the transfer market.
He added that he has long been suspicious of the January window. "I don't see any diamonds there," he said. "We struck lucky with Nemanja Vidic and Patrice Evra but it took them time to adjust. But you can't guarantee it and you are limited when you are looking for players to play in Europe [because they are cup-tied]. I don't see a player who could make a difference in terms of value and ability."
http://www.guardian.co.uk/football/2010/jan/08/sir-alex-ferguson-glazers-manchester-unitedCould you ever imagine one of our great managers coming out with something like that bit in bold.
A Champagne socialist, basically saying I'm not bothered what happens to the club as the consequences will only be felt when I'm gone! I don't give a F**k about the club or its fans I'm here for me and no one else.
