Posted on 07/30/2012 8:57:38 PM PDT by Nachum
Yes, General Motors really is giving $600 million to an English soccer club. Actually, as the team involved, Manchester United, is the most valuable team in sports, an investment in the club wouldn't be a bad idea, considering how everything else is going at General Motors. No, the $600 million GM is giving to Man United over the next 7 years is a sponsorship deal. In return, Man United will wear "Chevrolet" on their jerseys and GM will be able to call itself Man United's "global automobile partner." It will immediately have the edge with all those consumers who look to their favorite soccer club for car buying advice.
There is a very good reason government shouldn't bailout failing companies with buckets of taxpayer money. The money simply allows them to keep on making the disastrous decisions that got them to be a failing company in the first place. At least straight-up bankruptcy would have probably rooted out the kind of people who would think spending $60-70 million a year to have your logo on a soccer jersey was a swell idea.
(Excerpt) Read more at breitbart.com ...
Exactly right.
There is no way this "sponsorship" is worth $ 600 million over 7 years.
This is merely a way to launder money. You better believe there is someone connected to the Communist cabal on the receiving end of this moolah.
It's the Chicago Way.
The entire Obama Administration practices two things on a scale that we cannot even fathom:
1. Cloward Piven strategy
2. Money laundering to their Communist fellow travelers and union cronies.
Isn’t the whole point in corporate sponsorship because it promotes the product and the basic idea is that it should increase sales?
I don’t see what all the grumbling about ‘wasting taxpayers money’ is about. Its more like an investment with the expectation of a return.
“Manchester United to sell 16.7m shares for $16-$20 each on NYSE, values club at $3.3b.
-Roadshow expected to start Wed., pricing may be Aug. 9.”
Why does this club need corporate sponsorship again?
bet the repuplicans ignore it
Manchester United is actually owned by the US Glazer brothers who own the Tampa Bay Buccaners. They have piled on the debt at the club and now need to work some of it off. Makes me wonder if these guys were bundlers for Obama and this is an indirect payoff.
Incidentally invest in the new share issue at your own risk. See here Looks like the Share structure of the New York Times.
” Last week was an article they still owed us $42 Billion.”
They do! Obama and GM both lied about the taxpayer having been paid back. All that was paid back was the accrued “ interest “ on the govt loans.....that’s it.
GM has also made
1) A horrible manufacturing deal with China. (co-ownership)
2) GM has allowed China first position debt on the GM pension fund.
I have a Chrysler big mistake... Right now I’m looking at Nissan, Honda, Hyundai, Kia, Toyota, or Volkswagen. No more Ford or Chrysler.. I would never set foot in a GM Dealership..
If GM was still a company then I would have no problem.. However, we the TAX PAYERS own GM still.
For the same amount of dinero they could have given away 30,000 cars.
How is soccer communist?.
In soccer, the biggest teams get the most fans, make the most money, buy the best players and win the most trophies. Those who struggle get smaller or go bust.
Pure capitalism.
It is AMERICAN/Canadian sport that is socialist. Your sports are set up so no one franchise can dominate. The draft system. All equal, hmmm, whats does that remind you of?.
Its American sport thats ‘communist’.
So would I, and I'm partial to Chelsea.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.