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Help for fans as Blades aim to wipe out debt



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Published Date: 06 October 2008
By James Shield
SHEFFIELD United are determined to erase all debt from their balance sheet - while keeping turnstile prices "affordable".
Under McCabe's stewardship, United have forged a reputation for prudence in a business dominated by reckless spending. Bramall Lane's board of directors want to strike a balance between investing in the team without taking unnecessary risks.

Their latest acquisition, former Barnsley midfielder Brian Howard, made his debut during Saturday's 3-0 win over Bristol City less than 48 hours after completing a £500,000 move from Oakwell.

McCabe has pledged to continue to support manager Kevin Blackwell in the transfer market as United attempt to regain the Premiership status they lost in controversial circumstances 18 months ago.

But his announcement is also a coded message to supporters who have urged them to lavish huge sums on new players following last month's landmark legal victory over the Carlos Tevez Affair.

Speaking from his base in Belgium, McCabe told The Star: "Our aim is to be totally debt free. We believe that's the sensible thing to do in the current climate.

"If you are a football club then it is almost impossible to get a bank to lend you money and we want to ensure we remain in a strong position."

Having agreed to delay talks aimed at deciding the level of damages they will receive following an independent arbitration panel's investigation into Tevez's transfer to West Ham in 2006, United expect to discover the amount next year.

McCabe also announced that directors are exploring ways of rewarding their hard-pressed followers for their support.

He added. "We realise times are tough and that, in all likelihood, they'll get tougher.

"So, to help people out and to continue to make sure we draw good crowds, we're trying to make sure football remains affordable at United."

Blades 3 v Bristol City 0: CLICK HERE FOR MATCH REPORT AND PICTURES

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The full article contains 390 words and appears in Sheffield Star newspaper.
Page 1 of 1

  • Last Updated: 06 October 2008 9:13 AM
  • Source: Sheffield Star
  • Location: Sheffield
 
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1

all seeing eye,

Mount Zion 06/10/2008 09:02:58
What happened to the free season ticket offer that was made?
2

GregBlade,

06/10/2008 10:22:13
There have been 2 free season ticket offers recently, the first was when we came back down, people that renewed their season ticket were promised a free season ticket if we went straight back up..........we didn't though, so that has now gone.

They also offered free season tickets to under-12's for this season. That offer was available all summer and was taken up by many.

That answer your question?
3

Ecgbert,

Sheffield 06/10/2008 10:25:03
The free season ticket offer was made after relegation, on the basis that United got promoted last season. They didn't so the offer is no longer valid.

With respect to the article, I think United have realised that they create a better match-day experience for fans through cheaper tickets and more people in the ground - generating about the same revenue as they previously did with higher ticket prices and lower crowds. This then encourages even more people to attend creating an even better day out, with the end-result that more revenue is subsequently generated.

Of course, for most of us, winning, and winning in style, helps just as much!
4

Zodiac,

06/10/2008 11:44:52
The club seems to be running on a much sounder basis these days. There have been all kinds of financial shenanigans over the years but since McCabe has been around there's been investment both in the ground,playing staff & better value for money offer.
I'm happy that his overall governance bodes well for SUFC. We should appreciate having him, there are many clubs who wish that they had the set-up that is now in place at BDTBL.
5

Wicked Wanda,

Wicker Arches 06/10/2008 12:17:19
Wicked Wanda says what wonderful words of wisdom (like the alliteration - I do!)
from Zodiac - we must get together over a HOT pork sandwich.x
6

Zodiac,

06/10/2008 13:03:48
That's a very kind offer Wicked. I know just the place where you get extra stuffing but you must understand that I'm a married man.
7

Wicked Wanda,

Wicker Arches 06/10/2008 13:38:43
most of my clients are. Talking about stuffing - did you see how Wednesday got on? Dear oh dear - still its better than did against Reading!
8

SheffieldsBiggestClub,

Bladeland 06/10/2008 19:11:12
This a porn shop or a dating agency or what.....
Dear oh dear oh dear............
On a negative note.If we hadnt been wasting Premiership earned cash on taking over clubs in other countries, then we wouldnt be talking about being debt free. We'd be in the black already.
9

,

06/10/2008 19:20:57
Comment Reported Unsuitable By User
10

AlienBlade,

07/10/2008 16:13:19
Hmmm I'm not too sure where Donnyboy is from,

or who the 6 easy points were from or too?

however what "sheffieldsbiggestclub" fails to see is that the investment made in off field activities is actually why we are coming back into the black, the fitness club down in Staines was sold for a sizable profit, the Chengdu Blades, who are now in the Elite league are actually raking in sponsorships money, which correct me if I'm wrong is actually the only club united technically Own, as Ferenvaros we are helping, the begium team is merely a feeder club with links (time rather than money being spent down there)

our biggest outgoing is actually our property portfolio, (which was 50/50 venture with the Scarborough group) and given McCabe's intricate knowledge of that business (following the £800 Million deal he just made) I think he can be trusted to get us value for money (I beleive we have our assett are currently 10% over that of our borrowing for that venture) so even if we sold up now and paid the banks back we've made £5million pound

sticking with it the profit will increase once, and to sell at this point while the market is low, would also be silly,

but hey never let fact get in the way of a good old dig eh :)
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