I do think it is a grave concern, NOW THAT things are not improving but deteriorating it seems. I was one of those adopting the wait-and-see approach to see if the situation could improve given time (hope is a four-letter word and proven so again). Unfortunately, as of now, it does not seem to be heading in the right direction and has become obviously too glaring to ignore.SALFORD RED said:I don't think you can read properly mate.
The article says exactly the opposit.
Chelsea Limited, the company which owns the football club, Chelsea owed Â£736m to all its creditors. United's accounts, also recently filed at Companies House, showed total creditors at Â£764m.
Which i make to be United owe Â£38m MORE that Chelski owe.
Also United's loans incurred interest of Â£81m last year, the loan to Chelsea by Abramovich is interest-free.
If those figures are correct, which i have no reason to doubt as David Conn is one of the most clued up people in the financial world of football, then that is seriously very worrying.
The last set of figures on the United debt were Â£666m owed and yearly interest at Â£61m.
That is a massive leap and furthermore shows that all the money raised through tv money/ticket price rises/merchandise etc has not reduced Uniteds debt by one penny or even covered the yearly interest payments.
I've tried for ages to get people to open their eyes but just get met with the response " we'll we have the best players, we're doing alright on the pitch, we're winning trophys ".
Just don't know what to say anymore.
I really shudder to wonder how long this can go on both on and off the pitch, be it affecting the players we can invest in to of course the nightmarish exponential hike in ticket prices for the match-going fans. Debts are not necessarily bad only if they are good debts as in contrast to bad debts because they actually put money in your pocket when the returns outweigh any interest incurred. In this case, it is apparently not applicable even after all this while.
While we should not be ostriches burying our heads in the sand in self denial or pretending everything is or will be hunkie dorie, it is also equally exasperating to know that there is nothing we, fans, can really do about it. Or is there?! Boycotting the club should not be an option and let's hope it will never be.