The 2006 Investment Memorandum. There is a link to it in this thread somewhere.
ALL issues relating to the bond issue and club finances
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The 2006 Investment Memorandum. There is a link to it in this thread somewhere.
And its taken said person all weekend to come up with that?........oh dear, still i suppose its the cafe, if you cant handle the debate because your knowledge of the topic is so clearly limited resort to type and unfunny name calling to try and save face.
Basically this sums up this treads discussion path:
Fred/Crerand etc “were skint, the clubs on its knees in debt, we cant buy players, the worlds ending lets kill glazer etc etc”
GCHQ/Roodboy etc “not true, ‘insert clear educated understanding of said financial paperwork disproving conclusively the ‘were fecked myth’ with factual evidence and maturely put forward comments.
Fred/Crerard etc “feck off that’s bollox were skint coz MUST said so”
GCHQ/Roodboyetc "erm no 'insert financial figures proving this to be inacurate with detailed explanation of the findings'
Fred/Crerand etc "feck off you glazer loving cock (insert other random abusive names here) were skint i tell you! MUST told me!"
No money was so last week, it's 'we have a wage cap now'.
The PIK is secured against RFJV and hence effectively against the assets of its subsidiary companies including Man Utd plc.
The PIK loan is secured against RF Limited's shares and so it would be the Glazers who lose out and not the club if the Glazers were to default on the loan.
The club would just get new owners. Probably a few of the so called Red Knights ironically enough.
If Glazer was faced with the loss of all or a lot of his shares in Red Football he'd liquidate subsidiary assets to make sure that didn't happen.The PIK loan is secured against RF Limited's shares and so it would be the Glazers who lose out and not the club if the Glazers were to default on the loan.
The club would just get new owners. Probably a few of the so called Red Knights ironically enough.
He wouldn't be able to liquidate any assets other than the Carrington training ground as set out in the terms & conditions of the bond issue. As we all know, there is the option to take out an annual dividend but that is restricted to 50% of the club's net consolidated income (c.£20m-£25m). Plus the option of taking out a £70m one-off dividend of course.
There are other options available to the Glazers with regards to their management of the PIK loan. A refinancing at lower rates at some stage next year perhaps or the use of resources within the rest of their business empire (proceeds from the sale of their Tampa Bay Bucs franchise for instance).
£114m was received from the sale of players.
£102.5m was spent on the purchase of players.
I'd be surprised if they used anything other than the revenue from the football club to deal with the PIKS. My point was that it's a bit glib to suggest that the PIKS are not intrinsically bound up in Man Utd.
They are not selling their Buccs franchise...
They have categorically stated its not for sale..
And when the Glazers say something isnt for sale, then we know they mean its not for sale...
They would sell Manchester United tomorrow if someone was prepared to offer them what they want for it. That goes without saying. Ultimately everything is for sale and everything has a price but clearly the Red Knights aren't able to offer anywhere near the amount that the Glazers would sell United for.
The truth is we won't know the extent of how much of an effect the PIK loan will have on the club until the Glazers show their hand with regards to their plans for the management of that loan. Now some people argue that they showed that hand when they created the mechanism to take money out of the club via dividend payments but others would also point out that they have simply given themselves greater flexibility and that ultimately they may choose a different option.
So true.
They would sell Manchester United tomorrow if someone was prepared to offer them what they want for it. That goes without saying. Ultimately everything is for sale and everything has a price but clearly the Red Knights aren't able to offer anywhere near the amount that the Glazers would sell United for.
Are you saying hte Glazers are lying when they say United isnt for sale at any price...
tut tut....
You accuse MUST of telling porky pies to suit their needs, and now you are accusing the Glazers of the same thing..
Not very trusting are you....
Side splitting. By the way check every post I have ever made and you will find that I never use bad language. You reallly should show a bit of class and use less yourself
It is hardly the same thing Fred.
The Glazers very firm ''Not for sale'' stance is very typical of people who genuinely don't want to sell their company unless they were to be offered an amount so large that they couldn't possibly refuse to accept it. Now given that it's always very unlikely that such an offer like that will be made for anything, then the reality is that they will continue to own the club for the forseeable future.
And as for MUST. Well they used the ''Not for sale'' line back in 2005, and that really was a porky pie as they weren't even the people who were in charge of the decision over whether or not to sell the club!
Jeepers do you have nothing else to do. If shit is a curse word and counts as bad language then I am guilty as charged, u will need to get Gb or some of the other mods to rule on that one. You really are a sad .............
I was just honestly interested as to whether you swore or not; almost everybody swears on here so i found it hard to believe. Turns out you were just talking shit though, so, back to my original estimation of you; you're not interesting at all.
I heartbroken you think that. So since shit is not a swear word my integrity is intact. You are quite a boring chap arent you?
Huh? No, Einstein, i'm saying quite the opposite; that your not swearing might have been at least one facet of your personality that, amongst all the stereotypical mundanity, stood out as being of mild (read. very mild) interest. As it turns out though, you swear just like the rest of us, so, forget all that. Where you got the idea that using the word Shit is not profanity i cannot fathom, though considering your checkered history of clueless feckwittery and frequent and acute attacks of moronia, it doesn't surprise me that even this simple concept you have failed to grasp. It seems that you can even deny the plain fact that Shit is a swearword if it will back up a point you've made previous. Now, shall we move on?
Now for somebody that posts as much nonesense as you, moving on sounds remarkably mature, agreed you go one way and I will go another
Crerand, I've been checking, and what I PMd you about.. I am now 99% convinced I am right.
Sportinglife-
"Crystal Palace face liquidation unless the consortium attempting to buy the stricken club can complete the deal by Tuesday afternoon.
CPFC 2010, the group headed by local businessmen Steve Parish and Martin Long, claim they have until 3pm to secure their takeover or Agilo, the hedge fund which put Palace into administration in January, will begin selling off players and dissolving the club.
Be very afraid...........
when the nice fellows in Greenwich Connecticut can't get their customary 16.5 % this is what happens.
"Crystal Palace face liquidation unless the consortium attempting to buy the stricken club can complete the deal by Tuesday afternoon.
CPFC 2010, the group headed by local businessmen Steve Parish and Martin Long, claim they have until 3pm to secure their takeover or Agilo, the hedge fund which put Palace into administration in January, will begin selling off players and dissolving the club.
Be very afraid...........
when the nice fellows in Greenwich Connecticut can't get their customary 16.5 % this is what happens.
But Palace dont have as many supporters as United..
So it couldnt possibly ever, never in a million years, not ever, never in a life time happen to United.
Out with it then.
You're scaremongering again Fred....Palace have a sound financial set-up.
Silly me....
Fred, in a nutshell, what are you actually arguing?
You've gone so off track trying to disprove so many things that I have actually lost what you are actually saying.
That United will be bust in a few years? That there is no money for transfers so we won't be competeing in years to come?
You've gone so off track trying to disprove so many things that I have actually lost what you are actually saying.
That United will be bust in a few years? That there is no money for transfers so we won't be competeing in years to come?
You want my argument in a nutshell.
My concern is our debt commitments are so high, we are unable to compete with the other clubs and thus will fall behind when the senior players have moved on.
Possibly failing to make it into Europe and then entering into freefall because we dont have the resources to pick ourselves back up again. WIth the loss of revenue this would bring.
Dropping out the CL would mean the loss of many of our better players who would simply bugger off to other clubs who can play in the CL. Meaning we're on a vicious merry go round.
Once we fail to hit Europe once, the whole lot will come down like a pack of cards. The debts will still need to be paid and we wont have the income to cover it, and no way of getting back on track because we cant buy the players we need to do it.
Thats before we look at the ethics of it all, ie the ticket prices, the treatment of the fans etc.
People say you shouldnt compare United to Tampa. But I am afraid I have a very difficult job looking at one of the worst teams in the NFL, seeing them spend the lowest amount of any team in the NFL, seeeing a half empty stadium, knowing what their fans have had to put up with, then reconciling all that with hte fact we have the very same owners, and we somehow are not going to go through the same thing.
They've managed to feck up the Buccs big time, and they dont even need to play a game there to make a profit... If they can feck up something they cant lose money on, what the feck can they do to United where the amount they have the potential to lose is beyond anything we can imagine.
You are fecking comedy. If you are so sure, out with it. Otherwise stop being pathetic. You are making more of a fool of yourself than usual.Oh trust me.. its beyond funny.. its fecking hilarious...
Whats funny is seeing people like you squirming to find out what it is I PMd Crerand about...
Fred, technically you still owe me some Everton memorabilia, but if you want to bring me in on the inner circle on this, we'll consider it even!
Who's Squirming Fred? i cant talk for anyone else but me personally i think its hilarious the depths you’ll sink to take the discussion off course because you’ve basically lost all and any small amount of credibility you had.....
Lets be honest here, if you had anything at all on the guy you wouldn’t be hiding it away in private messages now would you, youd be screaming it from the rooftops, your just doing your usual revert to type take the thread off course and insult the people who disagree with you because you’ve no repost.
At least be man enough to admit it.
Lets be honest here, if you had anything at all on the guy you wouldn’t be hiding it away in private messages now would you, youd be screaming it from the rooftops, your just doing your usual revert to type take the thread off course and insult the people who disagree with you because you’ve no repost.
At least be man enough to admit it.
and whats even funnier, is the fact that apart from about three people, and a handful of newbies, who've PMd me to say they they've spotted it too, no one else has managed to work it out yet..
SOme people are too busy kissing other peoples assholes to see whats so glaringly obvious...
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