Manchester United fans called for boycott of the club as well as their sponsors following a recently announced lucrative sponsorship of the football club by General Motors.
Manchester United Supporters Trust (MUST) group have called for the boycott saying: “The boycott strategy is intended to send a loud and clear message to the Glazer family and club sponsors that without the support and purchasing power of the fans – the global strength of Manchester United brand doesn’t actually exist.”
The rather threatening words were said after Manchester United agreed to take on the offer by General Motors to sponsor the team and in order to see Chevrolet’s bowtie logo on ManU jerseys, GM has agreed to pump in up to USD$70 million with a 2.1% increase per annum.
MUST have claimed that the Glazer family purportedly placed the team in debt following a USD$1.23 billion take-over in 2005. Now, with their finger pointing in the direction of the team’s upcoming Initial Public Offering (IPO), which looks to potentially raise USD$330 million by trying to move 16.7 million shares during the public offering to be held on 9th August 2012.
Once the team has been floated on the New York Stock Exchange, the Glazers family hopes to raise up to USD$167 million to help relieve the team’s current debt.