2012/2013 Pickem Winner
Congratulations to RedDevilDazzy who clinched the winners spot of our pickem predictions game, it was close!!
Discussion in 'Man Utd Chat' started by thekeanefella, Dec 5, 2009.
Id say Young is closer to 100k.
Depends what he was on at Villa, but you're probably right. The only reason I'd think he'd be on less is that he must have known he was a gamble and the 100k is more than quite a few established players.
Either way, saving roughly 300k a week is huge. £12m a year roughly
if so its still less, but how come it says in the readings i read its 308m?
I believe this means that the debt is £458.9m, but we have £150.6m sat in the bank doing nothing that could potentially pay that debt.
It won't however, it will be kept for transfers/back up funds or whatever else it's used for. I'd imagine the Glazers will continue to dip into it too when they need a new pool or house or hooker.
Sorry guys (and Galls) but as much as I dislike the Glazers, as a business these figures are good.The floatation will leave the club debt free hopefully and it will be an attractive purchase for investors. The days of owners not taking money have long gone. City and Chelsea will never meet UEFA fair play rules and therefore their potential earnings will suffer if UEFA do as they say they will, which is debatable. So if the Red Knights or anyone else bought the club for £1.5billion and the Yanks went, what would the new owners want? A return on the investment of course. I bet not many on here haven't borrowed against their house for something which is just what the yanks do. I don't agree with it but that's the way it is. Debt only a problem if it's called in by the Banks which won't happen unless mansour buys the Banks too!!
Nothing good about :
Nothings says the float will clear any of the debt. It will raise cash no doubt, but where will that cash go?
MUST (the Manchester United Supporters' Trust - Manchester United Supporters Trust) response to Manchester United financial results
"The commercial team at United are clearly smart operators and we welcome continued growth in the business but to be fair we've seen growth consistently year after year long before the Glazers took over. There is only one man who is responsible for that consistent success - the same one responsible for success on the pitch - Sir Alex Ferguson. Without the incredible performance on the pitch and the fantastic loyal support of thousands of matchgoing fans, as well as millions more around the world, there would be no platform on which to build the growth of the business."
"So while the financial results are strong, they also show that the Glazers have taken another £51m out of the club in the last 12 months as well as using an even bigger chunk (£64m) of the club's money to pay down part of their bond debt. This is money that the club has generated and money that should stay in the club rather than go to Florida or to pay down the Glazers' debt and interest. We believe that the best long term model for Manchester United is supporter ownership where all of the shareholders want to see a strong underlying business but with the profits reinvested into the football club."
"That's why we're calling on the Glazers to use any share sale in Singapore to clear all of the club's debt - debt that they put on the club and they must take responsibility for. The only thing we want United to lose this season is the debt."
the andersred blog: Manchester United’s Q4 and full year results: 19 titles and a Champions League final
United's Q4 and full year 2010/11 results published today reflect a great season on the pitch that was almost as good as it gets.
The financial impact of the 19th title and reaching the Champions League final were significant on both the revenue and the cost lines. The EBITDA performance was exactly in line with my forecast in my post of 17th August, United remains a predictable money machine.
The interest bill remains very high (£51.7m in cash in 2010/11), and the year can be characterised as one where operating profits were largely used to reduce debt rather than invest in the club. Bond buybacks accounted for c. £64m, whilst net transfers only cost £11.4m. The cost of De Gea, Young and Jones will fall into the current financial year.
I thought this was a good article
Truth Behind United Accounts | Footyplace
Manchester United staff to receive record bonus pay out : F.C. Business
Well at least the ordinary folk working at the club are getting the money too.
Not sure which thread to put this in really:
Email from MUST
Momentous political win for MUST members
The response from Government on football governance is a stunning win for supporters and the result of work by many fans groups but undoubtedly you, MUST members, have been absolutely pivotal leading the lobbying and opening the door for great work by other fans' groups which has made this happen. We've outlined a summary of how we all did that below (WHAT MUST MEMBERS DID) just to remind you but first let's look at some key points from the Government response:
Reform of the FA and an introduction of a new licensing system which would enforce measures including that:
Clubs must recognise and have dialogue with supporters groups such as trusts - that means MUST at MUFC. There should also be a dedicated fan liaison officer at clubs. An end to the club's refusal to talk to MUST?
Clubs should hold official and regular AGMs at which supporter groups are invited to take part and at which appropriate financial and other information can be shared and consulted upon. An end to the total secrecy over the Glazers' finances?
Government raises possibility of supporter representation on football boards following a "trigger point" such as change of control. Real amd meaningful representation?
We aren't counting our chickens before they've hatched. We know that no changes have yet been made and it will take some time for football to respond to how it plans to implement changes and over what time period. However, it is really important to recognise what has been achieved here so we can continue to press for the reforms we would like to see.
So don't let anyone tell you we can't make a difference. We already have - as the BBC's Matt Slater reporting from the Leaders in Football conference said last week MUST members' emails are being read - Sports Minister Hugh Robertson says MPs are on football's case because their voters have put it on the agenda.
So that was down to your efforts and now we have the incentive to step up the campaign and get more supporters involved.
We make no apologies for this exercise in mutual back slapping. It is crucial that we highlight sucesses like this to motivate more supporters to get involved and push forward for more progress.
We now need to make sure these changes are implemented and furthermore to push for the Government to go further and honour its commitment to: Encourage reform of football governance rules to support the "cooperative ownership of football clubs by supporters".
We will be in touch soon with the next phase of this campaign but let's take a moment to look back on what has been achieved so far.
WHAT MUST MEMBERS DID
- more than 150,000 emails sent to MPs and football governing bodies. Private meetings with all parties. Media briefing and direct lobbying of MPs. 632 out of 650 MPs heard directly from MUST members in their constituency
- MUST's work to get issues into the manifestos of all the political parties prior to the election. Political football: how MUST changed the landscape to make Westminster listen
- which led to the Government Coalition Agreement to: Encourage reform of football governance rules to support the "cooperative ownership of football clubs by supporters".
- a mass email campaign directly led to the Westminster Hall debate on Football Governance in September 2012 which, thanks to emails to all MPs from MUST members, was "the best attended debate in living memory"
- that debate meant the Sports Minister Hugh Robertson heard MP after MP say change was needed and why it needed government to enable that due to football's resistance. During that debate numerous MPs from around the UK mentioned emails from MUST members and credited MUST's lobbying work. Debate summary here
- The select committee inquiry was a direct result of that, and its report followed by the Government's response yesterday, is a victory for supporters and especially for MUST members
Give yourself a pat on the back if you helped with this.
If you didn't then you will have the opportunity to contribute shortly as we continue our campaign and now everyone can see it is working that should encourage more to get involved.
Glazers have cost £532m
From Red Football's own accounts, released today.
This person damned well does care...Yes, we've all enjoyed the championships but it does not hide the glaring truth....Manchester United FC should be the BIGGEST FOOTBALL CLUB IN THE WORLD BAR NONE....That is the truth...With our history and our domestic honours and our fanbase, we ought to be signing the world's best players regularly...The reason we have not progressed internationally and are not adding such players to our squad is because of the crippling financial strains imposed upon the club by the current ownership structure...Shame on those who call people who draw attention to this 'doom merchants'...MICHAEL OWEN, JOHNNY EVANS, BERBATOV, CARRICK, i could name a considerable amount more, but does anybody really think Europe's top 3 or 4 would come knocking for any of those? Or for CARRICK? Or even WELBECK (sorry)...Let's just be honest, the Glazers have skimmed every dollar they can out of United but they simply cannot compete with City or Chelsea on the domestic front let alone Real Madrid or Barcelona....They have run what was the wealthiest football club on the planet into a debt structure which beggars belief and people need to realise something...It is not being DISLOYAL to Manchester United to point that out, far from it...FERGUSON wanted to dominate Europe and if he says anything different, he's telling porkies...What has he not been able to do so? Very simple...Because we have been consistently short at the table whenever the best become available...As to why he has at times defended the GLAZERS god only knows but those words look slightly hollow at present....
welbeck is class and Evans has got great potential too. The question is not IF the financial affairs are affecting us but by HOW MUCH.
Chelsea or City would not bid for EVANS and the top European clubs certainly would not....As for WELBECK, good player but of interest to Barcelona? I don't think so myself, so lets get real...As for 'How much'.....Massively....You only have to look at the fact that the players who scored against us on Sunday all cost between 23 and 38 million each....And why are the players that City have signed there and not at Old Trafford? Because we cannot afford to pay the fees let alone the wages...So all our history and the 19 championships counts for nothing when other clubs can wave their cheque books so generously...And why can't we do that? Because we owe hundreds of millions of pounds, that's why...The most successful brand in the history of world football EVER and it is hundreds of millions of pounds in debt...That is business madness and it has happened right under our noses whilst we all spend most of our time cheering when we hammer Bolton or Blackburn...What sort of players do you think FERGUSON would be going for if that debt was wiped out instantly and he could play with 200m, in the transfer market? And what happens from now on...Everytime City and United are both interested in a player - like NASRI - they'll end up at City because the wages will be the key...I think we will even avoid bidding for players we would really like, if we know City are in for them too - Just to save the eventual disapointment and embarrassment when they beat us to the signing - I really think that is where we are right now and if anybody can show me hard evidence that contradicts it, I'd love to see it....
stretford soul is right ---- and you know he is . Fergie fought so hard to keep rooney because he knew we would not be buying anyone near his level to replace him. When Fergie goes the house of cards will collapse unless of course the glazers punt us off to the arabs just before that .We have missed out on numerous players over the last few years we all know would have made us stronger. No value in the market my arse. Fergie was spending far more on transfers 10 years ago than he is now. We are even deluding ourselves that another golden generation like giggs scholes becks and the nevilles is coming through
Exactly...Because he knew damned well that with the present budget, ROONEY was most definetly irreplacable and the Manager would not have been handed all the money the next day...And that would have opened up everybody's eyes....And no, that generation was a once in a lifetime occurrence and trying to imagine we will see the likes of them again is delusional...I have spent many a long night trying to square the circle represented by the idea that FERGUSON believes the GLAZERS are a good ownership model for MUFC...Much as my heart longed to find a way, my head always brings me back to that mountain of debt and the way it ties the Manager's hands behind his back now when contending with the top spenders in Europe...Also, when I look at all the money grossed by this franchise - and it is off of support for the club - what was/is the point of all that if it does not put us at the very top of the bargaining tree? When REAL MADRID are signing their superstars it should be Manchester United who are upping the offer and taking players away from the likes of them...If not, what's the point of selling zillions of shirts and TV contacts in Asia or anywhere else? SIR MATT knew that to call yourself the 'best' you had to dominate in Europe and FERGUSON knows that is true too...The saddest reality is that the fnancial restraints look like they will not allow him to achieve that....What happens when he goes, if the GLAZERS are still in control is extremely worrying, I agree..
 Revealed: Glazers' secretly charged United 16.1m in "management fees"
 Revealed: Glazers' secretly charged United 16.1m in "management fees"
... and they've personally bought more than $10m of the bonds too so now our club is also personally paying them interest on their debt that they have dumped on our club. As one Red on Twitter said "And we thought it was only City who were taking the **** out of us this week".
We wanted all MUST members to see this story (below) as it highlights much of what is wrong about the Glazer takeover of our football club.
It's clear that these details were intentionally hidden from supporters and were only revealed when the club adopted new accounting rules in preparation for the possible flotation in Singapore. It does beg the question what else is being hidden from supporters? Where did the money come from to pay off the PIKs? Were they just refinanced and the facts hidden in Delaware USA?
The accounts also revealed that Kevin Glazer, who is a non-executive member of the club’s board of directors, and his immediate family own $10.6m worth of the club’s bonds. Those bonds pay an interest interest rate of 8.375 per cent – meaning our club is now not only paying interest on their debt but actually now paying interest to Glazer family members on part of their debt that they landed on our club.
It's shameful that the FA and government did not have any regulations in place to stop the Glazer takeover or the foresight to block the takeover going through and protect supporters from this type of exploitation.
We'll be following up with a further message to MPs next week and we hope all UK based United fans will use the opportunity to contact their MP to show how important football ownership and governance is to supporters.
It's now calculated that the total cost of the Glazers’ ownership of the club since their takeover has come to £532m.
That's almost seven Ronaldo's.
http://www.thescore.ie/united- paid-glazer-family-over-16-1m- in-management-fees-265452- Oct2011/
The Full Figures can be viewed on this link.
http://www.mufplc.com/pdf/ 2010-11%20Statutory% 20Accounts.pdf
Friday 28 October 2011
United paid Glazer family over £16.1m in management fees
FIGURES RELEASED BY Manchester United for the financial year ended 30 June 2011 have shown that the club has paid its owners, the Glazer family, over £16.1m in three years in “management fees”.
The Glazer family were paid fees of £6m for the 2011 financial year, £4.325m in 2010, and a little under £3m in 2009.
SLP Partners – a company also controlled by the Glazer family – was also paid £2.9m in consultancy fees in 2010.
United were not obliged to disclose the payments under previous accounting rules, and had accordingly opted not to do so.
However, the change in Premier League financial rules meant they were subsequently forced to publicly own up to these figures.
The new figures mean the total cost of the Glazers’ ownership of the club since their takeover has come to £532m. By comparison, the dividend payments prior to their takeover, between 1991 and 2005, amounted to £62.6million.
The accounts also reveal that Kevin Glazer, who is a non-executive member of the club’s board of directors, and his immediate family own $10.6m worth of the club’s bonds – essentially a form of IOU which allows it to borrow cash from investors.
Those bonds pay an interest interest rate of 8.375 per cent – meaning Kevin’s family earned £379,180 in interest from the club last year.
The family have consistently come under criticism from United supporters after they borrowed hundreds of millions of pounds to finance their purchase of United in 2005 – and then transferred that debt to the club, which had been debt-free before then.
Ticket prices were increased by over 42 per cent following their takeover, which led fans to protest against the owners.
He defends the Glazers because he knows he has to work with em so it's pointless splitting the club in two on his part, it's a catch 22. Glazers or none, he wants to do with what is best for the club and win trophies. I agree with what everything you're saying though, apart from Welbeck. He's a good player who will only get better, and the home grown factor adds something to the team.
We would of competed in the market financially if it wasn't for the Glazers, no question.