Manchester United fans’ group slam pay rise handed to executive vice president Ed Woodward and insist club will not be debt free until 2177 as they release a scathing letter condemning Glazer regime for their running of club
- ‘Millions of Concerned Manchester United fans’ wrote to Manchester United
- The group behind it outlined their concerns over how the Glazer family ran club
- Letter predicted it would take 158 years to pay debt accumulated since takeover
- They also expressed anger at a recent pay rise for chief executive Ed Woodward
A Manchester United fans’ group have delivered an open letter to the club expressing their anger and concern over the current ownership, and demanding answers to a list of five questions.
These questions cover the plans for clearing debt, Ed Woodward’s pay rise, servicing the debt, where money from shares has gone and an update on the search for a director of football.
In the letter, the Voice Of United group claim it would take 158 years to pay off the debt accumulated since the Glazer family bought the club in 2005.
Co-chairmen Joel Glazer (L) and Avram Glazer (R) have been criticised in the letter from fans
THE FIVE QUESTIONS
1) What are your plans to clear the debt in a realistic, suitable timeframe?
2) Given the obvious failure on the football side during Ed Woodward’s six year tenure as EVC on what basis was his raise given?’
3) Since 2005, over £750m has been spent servicing debt. What are the plans to reduce those fees over the coming years?
4) Shares in MUFC have raised around £452m. Can you detail how much of that has been invested back into the club (if any)?
5) Has there been any progress made in the search for a director of football? If so, what will be there role, will they have any power to make decisions?
Only £44million of the more than £660million borrowed to buy the club 14 years ago has been paid back, while around £750m has been used just to service the debt.
The letter opens by recalling the club’s glory days and their past successes, before contrasting it to the confusion and apathy currently surrounding the operation.
It also claims the ‘decline on the pitch is aggravated by what is happening off it’, while insisting the fans now feel more like customers.
The letter specifically slammed the recent pay rise awarded to chief executive Ed Woodward , claiming he now earns £4.182m – a 60 per cent pay increase on his £2.604m annual salary.
It asks the question: ‘Given the obvious failure on the football side during his six year tenure as EVC on what basis was that raise given?’
The group also demand an update on the current situation around whether a director of football will be appointed and what their role will be.
The group end the page-and-a-half letter listing key moments from the club history and stating: ‘Not only do we always endure, we always thrive.
‘They are in our DNA. You are not.’
The letter questions why executive vice chairman Ed Woodward was given a large pay rise