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SALFORD RED said:
I don't think you can read properly mate.
The article says exactly the opposit. :eek:

Chelsea Limited, the company which owns the football club, Chelsea owed £736m to all its creditors. United's accounts, also recently filed at Companies House, showed total creditors at £764m.

Which i make to be United owe £38m MORE that Chelski owe.

Also United's loans incurred interest of £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 £666m owed and yearly interest at £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. :eek:

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.
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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.

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.
 

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Do not take debts lightly or conveniently sweep it under the carpet and go to bed.

Do understand what is the actual meaning of interest. It is the extra obligatory payment on top of the principle, recurring and compounding until the actual principle is fully repaid. If the interest cannot even be handled properly or comfortably, what chance is there for the principle to be repaid, let alone be run down. Then the debs are not good debts but bad debts. And as at current standing, MUFC is more than 50% owned by the banks and not by the so-called 'owners', the Glazers, billionaires or not.

And billionaires should not be automatically trusted without any question or even healthy suspicion, whether they are smart with their finances or not. Or maybe they are ‘too smart’ for comfort, for all you know. Do they actually use their own money to put the money where their mouths are? Or are they just ‘cleverly’ using the club as a financial vehicle? At least in this aspect alone, I trust Roman Abramovich more than the Glazers, simply because he physically takes out his own money to bankroll Chelski. Yes, some may argue or remain suspicious that it is just his hobby and he may walk away from it someday when he gets bored with it, leaving the club in turmoil. Fair enough. But do remember he does not charge interest, which says a lot in itself too, and meaning the club will be none the worse in the worst-case scenario without this burden of extra obligatory payment called interest that is recurring and compounding, while having enjoyed every cent of the money put in to date.

If the figures are improving, I would have no qualms about it, even if it takes a bit longer than it should. But the facts remain it is NOT thus far. Can you imagine if we are slightly less successful than we are?! I would be most surprised if there is still no cause for concern or if there is still a stubborn indifference.

Everything is linked in terms of success for a club; nothing is independent in itself, from the fans to the players and staff to the performance on the pitch to the finances of the club etc. So the next question would be, is the current status SUSTAINABLE? Something has to give way or somebody has to bear the costs; no two ways about it, for the heavy debts with running interest will not disappear into thin air overnight.

While everything is linked by a chain that is invisible to the eyes, it should not be ‘invisible’ to the brains.
 
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