Since the outbreak of the epidemic, Manchester United’s financial situation has been in a state of ice and fire among the media. On the one hand, they are envious of Manchester United’s reasonable income structure, which allows Manchester United to have more ability to withstand risks. On the other hand, it is high The huge debt also makes the media worried. Since the Glazer family took over Manchester United, although their competitive performance has not been ideal, their excellent business development capabilities have made Manchester United not just a football club, but a business empire, and have led a new wave of European football club business development models. . The little-known Glazer family on the rich list, relying on Manchester United's global reputation, has successfully entered the vanity fairs in Europe and the United States, earning both fame and fortune.

In May 2005, Old Glazer used 270 million pounds to leverage 750 million pounds of investment funds to successfully acquire Manchester United. Old Glazer and his six children all entered the Manchester United board of directors and became The only man at the helm of Manchester United. The acquisition by the Glazer family has allowed the club, which has a long history and has not been in debt since World War I, to bear a financial deficit of up to 580 million pounds, with annual interest repayments of up to 60 million pounds. This obviously frightened Manchester United fans. The protests never stopped, and the pessimism about Manchester United's prospects never stopped.

1. The purpose of Old Glazer's acquisition of Manchester United is very clear. The Glazer family is not of Jewish origin. Being engaged in the investment business for a long time has made Glazer very clear that a solid real economic foundation is needed to support long-term investment actions. . Investing in Manchester United is not only a stepping stone, but also a tool to maintain and increase value. Therefore, the old Glazer has not made any major changes in the management of Manchester United. Old Gill and Sir Alex still control the development direction of Manchester United. The old Glazer almost Never appeared in front of the media, except for the heavy debt that Manchester United always reaped the glory. However, the old Glazer did not do nothing. After completing the acquisition of Manchester United, in order to seek greater financing effects and earn the first pot of gold, Manchester United was delisted from the London Stock Exchange and instead hoped to develop business in the Asian financial center. However, after the Hong Kong listing failed, it quickly turned to the US market. After listing on the New York Stock Exchange, it gained 150 million pounds, half of which was used to repay debts, and half of which went into the pockets of the Glazer family.

2. The old Glazer is smart and knows very well that relying on Manchester United's tens of millions of pounds in profits every season will undoubtedly be a drop in the bucket to repay debts. Therefore, only by maintaining Manchester United's competitive performance, attracting more people's attention and conducting commercial development can we obtain a higher club valuation, thereby bringing more income, fame and fortune. Therefore, during the years when Old Glazer was at the helm, Manchester United had continued to invest in competitive performance, and investment in transfers had always been maintained at the level that Manchester United should have. The business development model was not as radical as it is now. At that time, whether it was in the league or It is not an exaggeration to say that the results should be formed with stability in the business model. Everything changed in 2013. When Old Glazer handed over Manchester United to Little Glazer, Sir Alex Ferguson had already decided to retire, and Old Gill also began to enjoy his retirement career. Manchester United ushered in the era of Little Glazer, and Santoku Dominate all processes of Manchester United.

3. Both Glazer and Sandoko believe that the club’s products need to be packaged with cultural connotations. In August 2005, Glazer completed the acquisition of Manchester United in the first Premier League home game. Glazer was watching the game at the scene. When Rooney scored a goal, Glazer couldn't help but ask: How will you deal with that? football? This question reveals the business development model of Glazer after taking the helm of Manchester United: everything can be operated according to the business model. In other words, when Rooney scores a goal, the football has been given a special meaning and can be used as a commemorative football. for auction. This business model has been widely promoted since 2013. Manchester United's revenue from merchandise sales is getting higher and higher. While first-class clubs such as Real Madrid and Barcelona still rely on the appeal of stars to sell jerseys, Manchester United has begun to rely on giving cultural connotations to sell products. . In Beijing, what Manchester United opens is not called a specialty store, but a Manchester United Experience Center. This is a way of packaging cultural connotations.

4. Santoku believes that giving Manchester United more exposure can bring more revenue and revenue to the club. It is not just an accident that the Premier League’s broadcast fees rank first in the world. The fast-paced games, high-intensity confrontations, and open-ended game processes quickly gathered a group of fans. In the early days, despite its reputation as "heroic" But it doesn't hinder the yearning for passionate heart.

Driven by broadcast technology, the high exposure of Premier League teams can naturally be converted into commercial income. Manchester United, which dominated the Premier League at the time, quickly gained fans and had a huge number of fans and followers. For this reason, Manchester United has not increased ticket prices for many years. This is an effective way to retain fans and ensure the atmosphere of the scene. In Manchester United's operating income system, only match day income has not increased for many years.

Before 2013, there were not many transfer rumors about Manchester United, and sudden official announcements were not common. Although the information transmission speed and consultation channels at that time were not as abundant as they are now, Manchester United's transfers were based on speed. , famous for its accuracy. After 2013, there are rumors that dozens of stars are embarrassed to say hello to other clubs every season, which is where the nickname Manti comes from. Although Santoku is well versed in the fan economy, he is not good at transfer negotiations, but his business model is impeccable. Many transfer rumors can naturally bring more exposure, and more exposure will undoubtedly bring more exposure. Much attention. The media's high attention undoubtedly allowed Sandoku to take the initiative in business negotiations, because the advertising benefits that cooperation with Manchester United can bring are extraordinary. To use a famous saying in the domestic entertainment industry: A star who has no scandals means that he has expired.

5. Sandoku does not care about the history and culture of the club. As long as the cooperation can bring commercial income to the club, we can sit down and talk. Sponsorship Madness is a nickname given to Manchester United by fans, but it is also an important manifestation of Manchester United's business development model in recent years and the realization of the fan economy. A century-old store with a long history, a good brand reputation, decent competitive performance, and the ability to maintain high exposure in front of the media is undoubtedly an excellent business partner. Therefore, Santoku has carried out commercial cooperation in everything from milk powder and chocolate to buses and flights required for club travel. Whether they hope to spread brand information globally or cooperate in regions, they can sit down and talk about it, whether it is to reveal product trademarks or not. It can also be negotiated if the product trademark is exposed. Even Emirates, the main sponsor of city rival Manchester City, Sandoko has negotiated whether to become Manchester United's chest advertising sponsor. It is under the guidance of this kind of thinking that Manchester United has extremely excellent business development capabilities. The club has suitable sponsorship products for its food, clothing, housing and transportation. On the one hand, it greatly reduces the club's expenses, and on the other hand, it also brings huge income to the club. . Currently, Manchester United's official website lists 25 global partners, 8 regional partners, 14 media partners and 14 financial partners, for a total of 61 sponsors.

6. The club’s debt is reasonable. What modern enterprises pursue is not zero-debt operation. To a certain extent, the debt capacity exactly represents the club’s financing ability. It can use financing costs to achieve rapid expansion and quickly occupy the business. The field is the mainstream of the virtual economy era. Domestic Evergrande has leveraged its rapid real estate development model with high leverage and high turnover, thus becoming the number one real estate company in the country. Manchester United's commercial income and brand value ensure Manchester United's responsible solvency. As long as Manchester United's commercial profits are still higher than the interest costs that the club needs to repay every year, it will still be a "healthy" business development model. Since Glazer took over Manchester United, Manchester United's debt has not remained static, but has been fluctuating. However, in recent years, the debt has become higher and higher, which is worthy of vigilance.

7. In the era of traffic economy, San Dezi is undoubtedly a master of management, fully realizing the brand value of Manchester United, and forming a dual promotion effect of business development and fan increase. Although Manchester United's competitive performance was not ideal after 2013, its operating income has repeatedly reached new highs, and San Dezi has played a major role in this. Last year, it was rumored that a Saudi consortium hoped to acquire Manchester United, with a valuation of 4 to 5 billion pounds, which is already the acquisition value of the world's top companies. The business development model also brings abundant cash flow to the club. Before 2013, Manchester United’s transfer spending has remained at around 50 million euros. When Real Madrid, Barcelona, ??Manchester City, and Chelsea were waving checks to recruit stars, Manchester United was proceeding step by step. Buy young players and slowly develop them into talents. Now we are seeing transfer spending in excess of ￡100m per season.

8. Since the Glazer family was listed on the New York Stock Exchange, Manchester United’s shareholders are not just the Glazer family. Previously, media reported that the Manchester United board of directors delayed the payment of taxes and also had to pay shareholder dividends of 11 million pounds. This is not just the income of the Glazer family. This dividend will be distributed to all shareholders who purchased Manchester United shares.

Manchester United spends an average of about 20 million pounds on shareholder dividends every year. This amount is quite controversial given Manchester United's poor athletic performance and high debt. However, this expense is necessary. Only by continuing to pay dividends can it show that Manchester United is continuing to make profits, give shareholders higher confidence to continue to hold Manchester United's shares, and allow Manchester United to invest more capital in business opening. In terms of cost, cash flow is guaranteed.

When Glazer ran Manchester United, he almost copied the business development model of American sports clubs, and it is understandable that Premier League clubs have followed suit. However, the success of commercial development cannot erase the ambiguity of the Glazer family's mission in Manchester United. The Glazer family hopes to hold Manchester United for a long time and then sell it at a larger valuation, which has caused turmoil after 2013. . When Glazer invited Solskjaer to coach Manchester United and gave him firm support, Manchester United was returning to tradition. I hope that the Glazer family can seize the transfer opportunity in the 2020 summer window with great courage and bring long-lost glory to the fans despite Manchester United's tight cash flow. No longer based on commercial interests, blindly please shareholders.