Manchester United Financial Thread

What Glazer did is unfix-able the next owners will be even worse

does anybody seriously think that if a new owners comes out buys the club, pays off the debt, and give us better transfer funds without increasing the ticket prices ?

:d wum.

Its 100% true.

There's no reason not to. You're talking crap, abo.

If the Glazers want to sell United they'll do so and whoevers buys United will get the club for a lower price
and then pay off the debt, the Glazers haven't hurt the club at all, don't be so foolish.

Let me put this to you in very simple terms;

I want to buy a TV for £40 but I don't have that money, I have properties and an income so if I really
need to I can, but I get the bank to lend me £40 and buy that TV, I now owe the bank £40 but attach
that debt to the TV rather than myself, so the TV is worth £0 as it has debts attached. I loan the TV
to people who pay me £1.10 a day, I give £1 a day to the bank and keep £0.10. Then, after 20 days,
I've already paid back half, someone comes to me and pays me £30 for the TV, I say yes as I've already
made a profit, they pay off the debts and have the TV.

do you not think that taking out about £200m from the club to pay the yearly interest on their debt has hurt the club ?
money that could have been put to much better use elsewhere, like used for transfer fees for example.

You made a profit from selling the TV but the buyers didn't yet

any new owner who will buy the club will try to fill his pocket with even more money unless they are doing some kind of charity

That's it, the interest is the only loss that they have caused, which isn't much in the sum of things.

But that applies to any owner in the world, no owner likes to invest more money into something.

£200m is not much in the sum of things ? it is in my eyes.
it's almost a quarter of what the whole club is worth.

£200m will surely have hurt the club like i said.

Why don't you back up your figures with sources and then tell me how many years it needs to be paid in?

it has been published many times over the years that the yearly interest is well over £40m a year.
so £40m times 5 years = £200m.
simple math.

Source.

are you saying you have never seen any mention of the interest paid ?

anyway.
Manchester United debt soars to £700m despite record season - Telegraph

Their debt - £650 million and rising .::. MUST - the Manchester United supporters' trust

Financial News - Loans News - Manchester United considering £600 million bond issue

Debt crunch in 2013 - Manchester United - Football - Sport - Manchester Evening News

from the last link

"£45.5million currently coming out of United's profits to make interest repayments, ".

That refers to deadlines and not years. We need to meet certain deadlines, i.e £10 before
Friday, and whatnot, with £45.5mil being paid regularly, not necessarily annually however.

debt = £700m
yearly interest = 14.5%

sure a clever guy like you can do the math and find the correct amount being paid yearly.

it's been clearly published, in all newspapers, on tv news reports, even from published united accounts from companies house, many many times.

yet you are trying to say you've never heard a single things abot the yearly interest paid.
you're having a laugh and are just on a wind up here.

this is from Oct 2007.
no doubt the figures are much higher now.

Red Football Shareholder Limited - http://www.chriselkins.co.uk/files/Red1.pdf
Red Football Joint Venture Limited - http://www.chriselkins.co.uk/files/Red2.pdf
Red Football Limited - http://www.chriselkins.co.uk/files/Red3.pdf
Red Football Junior Limited - http://www.chriselkins.co.uk/files/Red4.pdf

Loss for the year is £26 million.This is the 'real' trading loss of the company after all costs and interest.Not quite the headline £75 million that Gill was trumpeting way back last January.

Total trading losses since commencement now total £68 million

The debt has been increased to £452 million from £265 million.

These accounts highlight the fact that not only is the debt increasing but the business isn't even financing the interest bill.The charge for interest in the accounts is £43 million.The actual interest paid was £28 million.I'm assuming that this £14 million is the biggest factor in the increase in the accruals figure.

The most startling figure to me is the amount owed to parent companies.There is no audit trail from these figures as to where it has gone,safe to say it will be one of the gimps undertakings.The figure is £223 million.Yes that's 223 million of your english pounds gone.

Last point is that these accounts were signed on 26th October 2007 and were then sat on for 6 months before being filed at the last minute.

The loss was £62.57 million before a tax adjustment of £4.4 million giving a final figure of £58 million.

The interest charge was £81 million of which only £41.5 million was actually paid out,the rest is deferred.

Trading loss for the two years is £193 million.


the above writing is not mine, it is copy pasted from another post.

also

The accounts for the thicket of Manchester United companies, which begin with a football club based in Stretford and ultimately lodge the Glazer family's ownership in the low tax, Las Vegas, roulette wheel US State of Nevada, were most recently filed for the year to June 2008. They showed the club £699m in debt to banks and hedge funds, three years after the Glazers borrowed £525m to finance their 2005 takeover. The interest payable in just three years after that, by a club always previously debt-free, has been a barely believable £263m.
Manchester United haven't spent the Ronaldo money on players, so where has it gone? | David Conn | Sport | guardian.co.uk

that's my last reply to you on this matter.

Shall I translate that to "I Googled the yearly amount United pays as debt interest but Google failed me"?

see the edit i made.

happy fishing mate.

I've read your post twice and still cannot find the yearly interest we pay. Do help me.

hahaha, yeah, right, you read all the accounts in 3 minutes. city win the premier league every years and we win nothing ever.

you are going blind or are on a complete wind up.

The accounts for the thicket of Manchester United companies, which begin with a football club based in Stretford and ultimately lodge the Glazer family's ownership in the low tax, Las Vegas, roulette wheel US State of Nevada, were most recently filed for the year to June 2008. They showed the club £699m in debt to banks and hedge funds, three years after the Glazers borrowed £525m to finance their 2005 takeover. The interest payable in just three years after that, by a club always previously debt-free, has been a barely believable £263m.
Manchester United haven't spent the Ronaldo money on players, so where has it gone? | David Conn | Sport | guardian.co.uk

no more bites from this fish.