add 20mill or so for unamortized coupon discount on the bond in order to be fair.
ALL issues relating to the bond issue and club finances
- Thread starter sammsky1
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This is kind of positive news - less debt on the club's shoulders... in a way.
Clearly, they have simply refinaced. Otherwise, why would you not come out and say we paid it with our own cash? The PR would be brilliant.
So, overall, slightly positive news but not what we had hoped as ultimately the club's owners have the same debt with a slightly lower interest.
Clearly, they have simply refinaced. Otherwise, why would you not come out and say we paid it with our own cash? The PR would be brilliant.
So, overall, slightly positive news but not what we had hoped as ultimately the club's owners have the same debt with a slightly lower interest.
Hate to annoy you again but there is a possibility they may have borrowed the £220m to pay off the PIKs, only the Glazers know so lets not get too ahead of ourselves yet . Hope I didn't upset you by mentioning this
They could be cleaning up the PIKS as a precursor to fecking off. Hope this doesn't get you too excited.
I was answering his hypothetical question. The clue was in the word 'if'.
Of course the Glazers, or anyone else, could take out loans at any time, there's no law against borrowing.
Read a couple of articles today suggesting this as a possibility but really we don't have a clue, the one on here who might have an idea is strangely absent perhaps in case he lets something slip, that is meant to be humourous before I am called a racist and various other things like last night.
It is indeed a possibility. What I'm worried about now, bizarre as it may sound given the history, is that the Glazers do sell the club and a new investor brings in a lot more debt. That would bring everyone back down with a bump after the tentative good news of the last few days. The grass isn't always greener.
Merey saying our debt may be more than £357m and correct there is absolutely no law against borrowing , totally agree
Why were you called a racist?
Depends what you mean by 'our debt', I was only talking about Manchester United, not the entire Glazer corporate empire.
The debt is £509m. Don't forget the Glazers can still take out the £100m dividend for themselves at some point if they wish.
I couldn't disagree with any of that
It doesn't matter if they have borrowed to pay it off as long as they do what Gill has promised they are doing and pay for it with money not generated by the club.
On Monday, they will remove the PIK from the Manchester United accounts. That is all that matters here.
Yeah but the real question Pexbo is are you upset by this?
It would be heartbreaking wouldn't it? Just when we think our finances are under control, we're paying our way without much problem, and then bam, we wake up to find out the Glazers have sold the club and we have an £1bn debt.
Go back to the general Elvis, I think you will find that wumming is a bannable offence on Red Cafe particularly on such a serious subject as racism. I know you can't help behaving like a child and I do feel sorrow for you, perhaps there is a help group out there for people like you, check it sometime now go and PM someone of your own mentality and leave the adults to talk. Good lad
It could happen, scary
It's why I don't have a whole lot of time for the mindless 'Glazers Out!' mentality. You've got to consider what the alternative would likely be.
'Be sure to keep a hold of nurse for fear of finding something worse'.
I'm delighted.
It's no secret that I have no problem with how they run the account's and how they run the club.
The issues I have with them are the ACS and to an extent, the ticket prices and how they have treated fans in general.
I know that P.R is only a series of gestures that dupe us fans into believing we are being treated well but the good feeling and unity between club and fans would go along way.
Telegraph is the source.
Edit*
their website Springfield Financial Companies I think at least.
Would seem a bit odd though if that is them? Specialise in loans on real estate up to the value of $25million and have loaned a total of $500million since 2001? I must have the wrong company.
One thing that puzzles me, if everything is going so well, and the Glazers financial plan for United is so sound, and there's no need whatsoever to worry about debt and repayments holding the club back, then why the feck have they had to keep paying 16%?
You said you were called a racist last night and I asked why. I'm not wumming.
Rather than a public slagging match I would advise you take up your concerns with the some of the mods/admin who will deal with me if your claims are correct and would be correct to do so if your claims are proven. Now end of discussion and way of track
I am aware of this, respectively still have grave concerns about the Glazers but I fully accept we could be worse. I sometimes wonder without SAFs achievement on the pitch and Gills business acumen off it where would the Glazers be
the thing with that is. without the achievements on the pitch and the potential to do well off it we'd never have been bought. Well, maybe by Sheik Mansour because that little combination has seemed to work for him at City.
Also I think it's fair to say that if Gill hadn't displayed some serious ability to drive revenue he'd have been shipped out and replaced with someone who could.
Good points, I suppose because both SAF and Gill were good at their jobs we will never know
Difficult to say who's calling the shots on that. Gill has always struck me as an unimpressive and overpaid CEO, who is probably kept around for his football nous (such as it is) and continuity.
From what I've heard Gill is pretty hands on regarding sponsorship and commercial opportunities. What is it that you find unimpressive about him? The figures certainly appear to show him doing a good job.
You get a feel for who's the right stuff in the boardroom - Gill doesn't project it to my mind nor does a tosser like Kenyon or that uber-wanker Cook. All three look like 'right place at right time' and promoted way above their level of competence. Cf Ivan Gazidis at Arsenal, who does look like the real deal.
Sorry- there has been no change.
The fact remains just as it was a week ago- the club still owes fivehundredandsixtymillion pounds put that with the onehundredmillionpounds big mal is now entitled to bleed out of the club and then try and figure out where he will look for another twohundredandtwentymillionpounds to pay off the PIK's- his supermarkets? er I don't think so, the buccaneers? er I don't think so, United? Bingo! the only asset that's making money ( with the added attraction of having customers willing to pay till it hurts )
The fact remains just as it was a week ago- the club still owes fivehundredandsixtymillion pounds put that with the onehundredmillionpounds big mal is now entitled to bleed out of the club and then try and figure out where he will look for another twohundredandtwentymillionpounds to pay off the PIK's- his supermarkets? er I don't think so, the buccaneers? er I don't think so, United? Bingo! the only asset that's making money ( with the added attraction of having customers willing to pay till it hurts )
Thought you might say that. Agree with you about Cook, and to a lesser extent Kenyon. That man's a clown.I doubt the persona Gill projects in public is identical to that behind the scenes. Certainly from my limited experience, a good chief exec can manage his or her public image and still project power as needed in the organisation itself.
One of my mates works for AON by the way, and he says the word in the company is that Gill is impressive.
Always got the impression David Gill was a very highly respected extremely capable well thought of Chief executive, thats certainly the feeling most give towards the man, Sir Alex himself recently said he was a 'brilliant man' when discussing the hierarchy of the club.
Not surprised to hear there's someone at Arsenal doing it better mind you.........
Not surprised to hear there's someone at Arsenal doing it better mind you.........
Seriously believe Peter that he is the best in the business, the Glazers have been lucky to have him and they know it. Said a couple of things I personally wasn't pleased with but I respect he is good at his job
I do hope you're not talking about Faxon, who's a dull beancounter in a nice suit?
Ah Allforone you disappeared in a hurry last night after your racist remark. As I told Elvis earlier the mods deal with such serious matters and I would appreciate you report your suspicions and let them deal with it, Im sure you wouldn't make such an accusation without proof. I await the result of your deliberations with them and will accept whatever they decide
How many CEOs of major companies have you met?
Thats it im putting you on ignore, i told you last night ive no interest in conversing with you at all or people like you, you carry on crying to whoever you like to your hearts content its clearly the actions of a very unhappy man who craves attention, unfortunately no one gives a shit sunshine, now grow up and stop trying to derail the discussion, im sure the mods are sick and tired of your complaining as much as everyone else.
Neverunderstood what you have against Gill - he is damn good at his job - GoonerBias is the only rational explanation
Also needs to be noted that he took a massive amount of abuse for comments he made about the PIK and in the end it has turned out that he was 100% right.
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