David Gill insists Manchester United is in good financial condition
Manchester United has recently reported a loss of 83.6 million pounds, but despite the financial problems at the club Chief Executive David Gill has said that that there is no pressure on the club to sell off any big names to raise
funds.
David Gill said that money has never been a problem at Old Trafford, and in fact the club would prefer to have Cristiano Ronaldo in the squad rather than the 80 million earned from his sale.
The Chief executive insisted that the accounts released are very good and have generated great revenues. He added that there is no need to worry and rubbished fears that United was heading the same route as Liverpool. The Mersey
side club is also owned by American owners but they have not been able to keep a grip on their financial aspects and in general it has been struggle for them to keep the club running.
Gill went on to say that the figures released are purely in terms of numbers and stats, and does not make it easy for a layman to understand the profit and loss ratio. He said that in general fans may not be able to understand
the figures as the turnover of 286 million pounds that was released earlier was for the year ending June 2010, and now the report of losses of upto 83.6 million pounds may confuse them.
In 2009 Manchester United reported a profit of 48.2 million pounds which was mainly due to the big sale of Cristiano Ronaldo. However the move was not enforced by the board or the management, in fact it was the player’s request
after which the move took place.
Gill went on to say that what fans may not understand at the moment is that, there is an amount of 165 million pounds in the bank reserved for Sir Alex to use when and if he wants to bring in players during the next transfer window.
In an interview, Gill said: "We are not a club that needs to sell. We have money in the bank so there is zero pressure on that, no pressure at all to sell any star player whether it is Wayne Rooney or X, Y or Z. I can categorically
say that.
"There was no desire at all from anyone at the club to sell Cristiano - he wanted to go and as a result we managed to extract a world record fee.
"These philosophy is to retain and attract the best players. We have £165million in the bank but in some ways we would prefer to have £80million in the bank and Ronaldo on the pitch."
In an effort to try and explain the technical terms in the financial report David Gill said that number of losses reported are losses that are actually related to few one off payments which were later turned into bonds.
However despite Gill’s best efforts to explain the financial report in simpler terms to United faithful, there still remains good amount of doubt an uncertainty among fans. There are fears that Liverpool may be forced into administration
next week after number of unpaid debts and possibility of owners changing hands.
David Gill though reintegrated that there is no need to worry for Manchester United fans and the club remains in good stead. After the American based Glazer family took over, Manchester United have won 2 Premier League titles,
2 Carling cups and one UEFA Champions League title.
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