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As Man U owners cash in, need to buy stars grows

By WTOP Staff

ROB HARRIS
AP Sports Writer

LONDON (AP) — With new investors to attract and a team in need of strengthening, Manchester United is trying to appease its disgruntled fans.

New manager Louis van Gaal has been evaluating this once-mighty club after a sobering loss to Swansea — United’s first home defeat on opening day in 42 years. Two weeks remain for Van Gaal and executive vice chairman Ed Woodward to lure players to a team that failed to make the Champions League.

On the financial front, United’s leadership is intent on highlighting the club’s robustness and downplaying any turmoil in the post-Alex Ferguson era following the team’s collapse under David Moyes last season.

“Manchester United is the most watched club with the biggest fan base”, declares a presentation shown on the investor roadshow.

The Glazer family, which controls United, announced last month it was selling another 12 million shares on the New York Stock Exchange. The six children of the recently deceased Malcolm Glazer will raise $196 million while retaining more than 80 percent of the voting power.

Watching the Glazers cash in, following a 2005 leveraged takeover that has cost the club about $1.2 billion in finance costs, has proved particularly galling for some fans after the 2013 champions finished in seventh place in May.

Success, though, has been measured by other factors in the last year at Old Trafford. Consider one of the slides at the investor presentation. No major trophy was won in 2013-14, but it did take “22 days to become the biggest Premier League club” on the photo-sharing platform Instagram.

Fans have struggled to reconcile their 136-year-old club’s heritage and the motives of the Floridian owners whose affinity to United is to the brand’s money-making abilities. Another slide lauds United as a “leading global marketing platform,” allowing sponsors to have an “association with success.”

Even after last season’s dismal finish, Adidas signed a 10-year uniform deal worth about $1.3 billion from 2015 on top of a seven-year $559 million shirt sponsorship with Chevrolet that has just started.

Woodward has been so determined to reassure fans that the owners are not just milking the club of cash that he boasted in July: “We’re not afraid of spending significant amounts of money … we are in a very strong financial position.”

That’s been clear throughout 2014, but the wisdom of the spending is less so.

Signing Juan Mata in January for a club-record 37.1 million pounds (then $61 million) briefly raised morale under Moyes. But the midfielder couldn’t hold down a regular place at Chelsea and would go on to play just once at the World Cup — in Spain’s group-stage, with the country already eliminated.

The much-vaunted arrivals during the summer transfer period are not established international players. Yet, Luke Shaw and Ander Herrara commanded fees of about $50 million.

Patrice Evra, one of three veteran defenders to leave in the offseason, was replaced with 19-year-old left back Shaw. When the Englishman joined the club from Southampton in June, he had appeared just once at the World Cup — like Mata, in the final group game with England unable to advance.

Herrara, signed from Athletic Bilbao, is a central midfielder who at 25 is yet to make a senior international appearance for Spain.

The challenge is persuading world-class players to join a team that has won 20 English championships but has no Champions League soccer on offer this season, and potentially in the following season unless the team returns to the Premier League’s top four.

United has an admirable commitment to promoting talent from its academy, although to shareholders such players are “carried on the balance sheet at zero book value.” One of the refashioned back three on Saturday was Tyler Blackett, making his first-team debut at 20 in an unaccustomed defensive formation alongside Chris Smalling and Phil Jones.

Hardly a trio of names to instill fear in opponents or plaster on noodles in Malaysia, wine in Chile or credit cards in the United Arab Emirates in the Glazers’ pursuit of global sponsorship riches. Revenue rose to another club-record of about $727 million for the year to June 30, 2014.

Despite Van Gaal questioning the commercial demands during the preseason slog across the United States, fans won’t be able to count on the former Netherlands and Barcelona coach joining their anti-Glazer protests.

In fact, the 2-1 defeat to Swansea on Saturday might have reinvigorated the anti-Glazer campaign online, but the movement no longer has a unified public front following all the success under Ferguson.

___

Rob Harris can be followed at www.twitter.com/RobHarris

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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