ALL issues relating to the bond issue and club finances

Status
Not open for further replies.
A1Dan said:
Who writes these press releases? That one actually made a little bit of sick appear at the back of my mouth... I had to go and buy some Arctic Ice Energy to wash the taste away.

Seriously though - and it's not even an anti-Glazer thing, or even specific to football - why is our world so full of total bullshit like "It is a natural balance between the most innovative energy drink and one of the most prestigious football clubs in the world."?:(
Click to expand...

There's cnuts who are probably paid over £30,000 a year to come up with bollocks like that.

Depressing.
 
It's like a parody of the most meaningless shit press release of all time. I don't know how they managed not to get 'eclectic' in there somewhere.
 
A1Dan said:
Who writes these press releases? That one actually made a little bit of sick appear at the back of my mouth... I had to go and buy some Arctic Ice Energy to wash the taste away.

Seriously though - and it's not even an anti-Glazer thing, or even specific to football - why is our world so full of total bullshit like "It is a natural balance between the most innovative energy drink and one of the most prestigious football clubs in the world."?:(
Click to expand...

Is it bullshit though? It strikes me that there is a natural balance between two products which are world leaders in their respective fields.
 
GCHQ is renaissance man - accountant, marketeer and doubtless a master of some other shite like estate agency.
 
ciderman9000000 said:
I've been away for a while; did anders ever reveal his big secret?
Click to expand...

He's been throwing us little tit-bits here and there. I think we've established that he's chums with a chap from one of the nine funds who hold the PIK debt and now has the benefit of knowing what terms and conditions are included within the (confidential) PIK documents. He's confirmed that there is nothing included in those PIK documents (redemption fee etc) preventing the Glazers from paying them down with cash from Red Football Limited. I don't think that's the big secret though. I think he's claiming to know a specific detail that proves beyond all doubt that the Glazers have delayed paying down the PIKs due to concern about the supporters' reaction.
 
peterstorey said:
It's like a parody of the most meaningless shit press release of all time. I don't know how they managed not to get 'eclectic' in there somewhere.
Click to expand...

Well it worked on me - I am now hooked up to a drip that constantly feeds me Arctic Ice :drool:
 
I think it's an energy drink made by sticking a load of Arctic Roll and Crystal Meth in a blender.

You can see the obvious synergy in brand alingment with proven innovators such as the Manchester United franchise, surely?
 
Rood said:
WTF is Arctic Ice anyway? I've never heard of it - am I the only one?
Click to expand...

Artic ice is a potently energised, vitamin blended, high-performance, eclectically flavoured, dynamically edgy, exotically vital, intensely pure tasting, salaciously smooth, crispily finished, resinously fragrant, ambrosian elixir, alchemised by the Twelve Olympians and delivered by doves to provide an intense sustainable energy nectar for undefiled mortals who lead active and vigorous lifestyles.

That's what I heard, anyway. Hard to say if it's true really.
 
What?! In it's entirety? Is this with the cash from the club or other resources?
 
So for someone not completely in sync with this...this will probably involve the Ronaldo money going right?

Are United scheduled to release somekind of updated financial statement tomorrow?
 
@OnTheRoadajtas Daniel Harris

The PIKs are the only debt on which the Glazers are personally liable - the rest is United's responsibility. FAOD, this is bad fecking news.
 
mboRa ndomHer0723 said:
@OnTheRoadajtas Daniel Harris

The PIKs are the only debt on which the Glazers are personally liable - the rest is United's responsibility. FAOD, this is bad fecking news.
Click to expand...

why is this bad news? Obviously our owners and club wiping out it's cash reserves is not a good thing, but isn't the fact we will come the 23rd of November be in less debt good news?
 
Is this being entirely paid from the cash in the clubs current account?

I assume so, but there was not 200m in that was there?
 
GCHQ said:
You said it would be paid off in its entirety with United's cash, which was always impossible (unless the Glazers hold considerably more than 20% of the PIK debt).
Click to expand...
And Man Utd's other resources such as the revolving credit.
 
So how much is it they are actually paying when you remove the reported amount of the PIKs they now own...or is it expected they'll use this as a form of dividend to themselves?
 
isn't this pretty decent news in terms of what could have happened? they take the £95 million they were entitles to but they've come up with the rest from elsewhere?
 
So have the Glazers given themselves another "gift" from the club to afford this?

If all the clubs money goes into it then what is there to pay off the clubs debt rather than the families?
 
phelans shorts said:
So have the Glazers given themselves another "gift" from the club to afford this?

If all the clubs money goes into it then what is there to pay off the clubs debt rather than the families?
Click to expand...

yeah because it would be a brilliant idea for them to not leave a resource to pay the clubs debt thus losing themselves a £1billion asset just so they can get this paid off a year or two early.
 
DanH said:
isn't this pretty decent news in terms of what could have happened? they take the £95 million they were entitles to but they've come up with the rest from elsewhere?
Click to expand...

And what if the elsewhere is some other loan that's almost as bad as the PIKs?

Can't really judge this without all the details.
 
DanH said:
yeah because it would be a brilliant idea for them to not leave a resource to pay the clubs debt thus losing themselves a £1billion asset just so they can get this paid off a year or two early.
Click to expand...

Of course not completely cleaned out but we would be somewhat reliant in success and attendance figures, which absolutely everyone can see is a gigantic risk considering team strength and falling attendances.
 
charleysurf said:
And what if the elsewhere is some other loan that's almost as bad as the PIKs?

Can't really judge this without all the details.
Click to expand...

Would the terms and conditions of the bond prospectus allow the Glazers to secure more money against the club? Seems unlikely. Also seems unlikely that they'd borrow at a rate that wouldn't be beneficial.
 
GCHQ said:
It's not allowed under the t&c of that facility as well as those of the bonds.
Click to expand...
I'm sure a clever accountant like yourself could use the season ticket money to pay down the PIKS while using the RC to fund the club day to day.
 
We should know more by tomorrow morning.

First quarter results are due out at 11.00am:


Investor Communication

MU Finance PLC financial results for the first quarter ended 30th September 2010.

MU Finance PLC announces that it will release its Financial Results for the quarter ended 30th September 2010 on 16th November 2010.

The Earnings Release will be made available on the MU Finance PLC website
(Manchester United - MU Finance) at approximately 11:00 GMT (06:00 EST) on 16th November 2010.

This will be followed by a conference call and presentation to investors at
12:00 GMT (07:00 EST).
Click to expand...
 
peterstorey said:
I'm sure a clever accountant like yourself could use the season ticket money to pay down the PIKS while using the RC to fund the club day to day.
Click to expand...

does the bond prospectus not limit the Glazers to a one of 75million and then 20mill odd per season if they hit certain Ebitda targets?

I suppose it could lead to them using the RCF to fund player purchases.
 
Status
Not open for further replies.