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United fans still bitter over Glazer takeover

By WTOP Staff

ROB HARRIS
AP Sports Writer

LONDON (AP) — Few Manchester United fans will ever forgive Malcolm Glazer for his acrimonious buyout of the club that left the 20-time English champions with millions of dollars of debt.

As a result, there was no outpouring of grief or flood of tributes from fans in the northern English city of Manchester following Wednesday’s death of the club’s 85-year-old former American owner.

Perhaps aware of the supporters’ enduring animosity, there was a low-key response from United — just a 75-word website statement that was in noticeable contrast to the gratitude flowing from the Glazers’ NFL franchise, the Tampa Bay Buccaneers.

United’s Twitter account made no mention of the passing of the man who bought the club for 790 million pounds (then $1.47 billion) in 2005.

The Manchester United Supporters’ Trust, which has spearheaded the movement against the Glazer family, avoided any criticism of the billionaire in the hours after his death, choosing to reassert its condemnation of the family as a whole.

Glazer’s direct involvement in United appeared to end after he had a stroke in 2006, and his six grown children control all but the 10 percent of the club that has been listed on the New York Stock Exchange since 2012.

“As a supporter I am aware of the detrimental effect the Glazers have had on the football club and the huge debt that has been placed on Manchester United,” MUST vice chairman Sean Bones said.

Although United’s debt has fallen from a high of 716.5 million pounds (then $1.1 billion) in 2008-09 to 351.7 million pounds ($590 million), the financial burden remains a source of bitterness among fans.

United was debt free before the Glazers saddled the club with loans to finance the buyout, which was greeted with violent protests and burning effigies of Malcolm Glazer in the streets outside the 76,000-capacity Old Trafford.

Servicing the debt has cost United more than $1.5 billion in finance charges over nine years. Fans can only dream how that money could have been spent on new players rather than going to financial institutions.

The fans’ anger has only grown since Abu Dhabi’s ruling family bought crosstown rival Manchester City, investing more than $1.5 billion to overhaul the team and infrastructure to finally challenge United’s supremacy. City won the Premier League title this season for the second time in three years. United finished seventh.

Some supporters were so incensed by the Glazers’ takeover that they not only stopped going to games in 2005 but started their own breakaway club. Fully owned and run by supporters, FC United has reached the seventh tier of English football — just three promotions from the professional league system — and is opening its own 5,000-seat stadium later this year.

“The Glazers’ ownership of Manchester United is a product of the lack of regulation that we have in the game,” FC United general manager Andy Walsh said. “Malcolm Glazer took advantage of that and his passing does not change that fact. The Glazer family still own Manchester United Football Club. The takeover of Manchester United caused a lot of pain in this city.”

With the value of Premier League television rights still going up, the Glazers have little urgency to sell a business with a market capitalization of $2.7 billion. But one of the six siblings, who have shown little emotional attachment to the club and rarely attend home games, could decide to cash in on their investment.

Across Manchester, and even on parts of the London Underground, “Love United, Hate Glazer” stickers can still be spotted, having outlasted the campaigns to oust the Glazers that lacked momentum.

Fans adopted green-and-gold scarves in 2010 in honor of the club’s original colors to protest against the Glazers — even former midfielder David Beckham was draped in one when he returned to Old Trafford with AC Milan. But the scarves quickly became another fashion accessory and a separate, much-hyped proposed takeover bid by wealthy fans calling themselves the Red Knights collapsed.

Maintaining a sustained campaign against the Glazers was always going to be challenging as manager Alex Ferguson continued to deliver success on the pitch. He guided the club to five Premier League championships, a Champions League title and Club World Cup victory alone after the takeover. It was Ferguson’s fallout with shareholders John Magnier and J.P. McManus over the ownership of racehorse Rock of Gibraltar that led to them selling the club to the Glazers.

Just how reliant United was on Ferguson became clear last May when he retired after more than 26 years in charge. Hand-picked successor David Moyes flopped and was fired after 10 months in April. Dutchman Louis van Gaal, a title winner with Ajax, Barcelona and Bayern Munich, has been hired to replace him.

Returning United to the top echelons is important not only for prestige but to provide tens of millions of pounds (dollars) in UEFA revenue to service the debt.

Even the Glazer family’s fiercest critics will grudgingly acknowledge their success in extracting cash from the club’s strong global brand more successfully than any domestic rival. Revenue is set to exceed $700 million in the 2013-14 financial year, helped by United amassing a portfolio of global companies willing to pay to use the Red Devils logo on everything from scooters to credit cards.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Don’t Settle for Student Loans to Pay for Online Education

By WTOP Staff
Online college programs are becoming a more popular choice for prospective students, with one study finding that more than 6 million students enrolled in at least one online course in fall 2015. The popularity of these courses can be attributed in part to their flexibility with working adults' schedules, students' ability to progress more quickly through online programs and, oftentimes, cheaper tuition. [See 10 low-cost online bachelor's programs for out-of-state students.]Online degrees can be beneficial to many college students, but some studies have shown online learners complete their programs at lower rates than students at traditional brick-and-mortar campuses. Individuals with student loans but no degree comprise two-thirds of defaulted borrowers. Though these numbers are not encouraging, just like for traditional programs, there are ways to reduce how much you'll need to borrow for an online program to ensure you won't become one of these statistics. Don't just settle on borrowing student loans to cover the whole cost of your program and living expenses. Instead, start thinking about how to cut costs and cover your balance in different ways, such as the following. -- Grants and scholarships: Even though you are taking an online course, you can still apply and receive grants and scholarships. But your first step should be to complete the Free Application for Federal Student Aid, commonly referred to as the FAFSA, which will allow you to receive a Pell Grant if your expected family contribution is low enough. The EFC criteria and award amounts are adjusted annually, but the 2017-2018 academic year awards range from $606 to $5,920, which could significantly lower the amount you borrow annually. Your next step is to apply for scholarships. You can start by checking online scholarship search engines, such as the Salt Scholarship Search, College Board's BigFuture and Peterson's. But don't forget to take advantage of local organizations and your school's financial aid office. Both may offer scholarships that you can't find with a national scholarship search. [Review these 10 sites to kick off your scholarship search.]For instance, organizations like the Elks Club, Knights of Columbus or the Rotary Club typically offer scholarships annually to local students. Just because you're going to school online doesn't mean you're ineligible. Visit your local library for scholarship listings, and ask around town. You might be surprised how many local organizations offer scholarships. While these scholarships typically aren't large, every little bit counts. Each dollar you receive in a scholarship is a dollar you don't have to borrow and pay interest on. -- Work-study: Another option for online students may be work-study awards. Not all students enrolled in online programs are eligible, but students at some schools -- including, for example, SUNY Empire State College and Liberty University -- are. Work-study awards are not given upfront like scholarships and grants. In most cases, they are an offer to earn up to the awarded amount if you secure an eligible work-study job. While there is a misconception that all work-study jobs must be on campus, students can work for off-campus, nonprofit or public employers as long as the work is in the public's interest. You may be able to work for a for-profit employer if the job is relevant to your course of study. No matter who the outside employer is, it will need to have an established agreement with your college for you to receive work-study funds. Remember, to be eligible for federal financial aid, you must be enrolled and pursuing a degree or certificate. If you're not working toward a credential, Pell Grants and work-study won't be option, but you may still be able to take advantage of private scholarships -- just be sure to read the eligibility criteria carefully. [Explore what to know about financial aid in online programs.]-- Pay as you go: One of the great benefits to enrolling online is the flexible schedule, which can allow you to complete your college coursework around your responsibilities. But prospective students often overlook using their part- or full-time job earnings as an option for paying for college. Almost 80 percent of college students in 2015 worked at least part time while attending classes, according to the National Center for Education Statistics. By budgeting and thinking strategically about your college costs, you can likely reduce your dependence on student loans by paying a portion out of pocket. Many -- but not all -- online programs are less expensive than traditional programs and often have shorter payment periods. Six, eight or 10 weeks are common course durations. Because of the frequency of payments in an online setting, you may be well-placed to pay as you go and possibly avoid borrowing altogether. Attending college online and avoiding student loans may be challenging, but if you are willing to put in the effort, you can limit the amount you need to borrow. More from U.S. News Q&A: Understanding Student Loan Discharge Eligibility Student Loan Refinancing Isn't Right for All Borrowers
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