ALL issues relating to the bond issue and club finances

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Who actually does believe that Fred?

Read the thread, theres one or two notable people who are making it very clear they believe everything will be fine if we just place our faith in the Glazers and let them get on with it.
 
FFS this was supposed to be the thread for serious financial discussion - I guess certain posters would prefer that didnt happen :rolleyes:
 
Read the thread, theres one or two notable people who are making it very clear they believe everything will be fine if we just place our faith in the Glazers and let them get on with it.

Faith in the Glazers? away for a couple of pints
 
Fred I hope you aint smearing the poor Glazers there, lets be more sensitive

I've said it for five years, and I'll say it till the day I croak it.

I fecking hate the cnuts and the sooner they feck off the better.

If that upsets the little possums, so be it.. I will never ever, in a million years accept them as part of MUFC.

To me your either for them, or against them..
 
excuse me, but you're the ones going on and on about it.

I am happy to just stick to the issue and let the rest sort itself out its time.

Its you whos pissing your little pants because no one will tell you what we're talking about.

Pissing my pants in laughter at your immature games hardly equals pissing my pants in desperation to be told this ever so special little secret….......Christ Fred listen to yourself, this is above you surely? I thought this was above any fully grown adult its fecking embarrassing stuff really.

I couldn’t give two shits what your talking about frankly, what I however would like is for this thread to get back to what it was supposed to be about hence the sooner you either declare this silly schoolgirl game is in fact a steaming pile of bollox or spill what your supposedly wetting yourself talking about privately we cant, before you started trying desperately to discredit people and making personal attacks on others who challenged your comments this thread as other people are now saying was going well.
 
I've said it for five years, and I'll say it till the day I croak it.

I fecking hate the cnuts and the sooner they feck off the better.

If that upsets the little possums, so be it.. I will never ever, in a million years accept them as part of MUFC.

To me your either for them, or against them..

Well said mate
 
Read the thread, theres one or two notable people who are making it very clear they believe everything will be fine if we just place our faith in the Glazers and let them get on with it.

Is that what they are saying or is that how your reading it?

Ive not seen anyone even remotly claim the Glazers to be good owners of Manchester United, if you can point me in the direction of anyone saying any such thing by all means do so.
 
I am afraid I havent, and still dont agree with the G+G campaign.

As its transpired, exactly what I was worried about has happened.

THe RK bid has fallen on its arse, and the anti MUST lot are having a field day with it...

I honestly don't understand your agenda?

I haven't read one single post who like the depts and gready owners. Not one. Everybody, as far I'm concerned, feeling bad for supporters who can't renew there ST. But I'm interested in my clubs financial condition. I want to see the good and bad without propaganda, either way.

I support the G&G. But I don't want a new owner for the sake of it. When we see and read about a better alternative then the Glazers I'm all in.

And Fred. I have been a member of MUST since 2006. I don't agree with everything but I want to support local lads who maybe can't afford a ST because of the owners agressive ticketpolicy. That's my contribution.
 
I've said it for five years, and I'll say it till the day I croak it.

I fecking hate the cnuts and the sooner they feck off the better.

If that upsets the little possums, so be it.. I will never ever, in a million years accept them as part of MUFC.

To me your either for them, or against them..


Aha, progress, and with such here in lies the crux of the problem.....well your problem really.....it must be lovely in your world Fred, everything so black and white…...however not everyone lives in that same world, some people can differentiate between such things in a more mature manner, i.e you can easily dislike the glazers for burdening the level of debt on the club they have whilst at the same time seeing and accepting that they are in fact not running the club like a bunch of amateurish school kids who haven’t got a Scooby doo about the financial world.

It is in this you can actually take a step back and see thrings in a clearer light of course, a light that is far less agenda ridden and based largely on doom and scaremongery.
 
I think Fred forgot to take his medication again

Soon he will be connecting me and GCHQ to the JFK assasination
 
I honestly don't understand your agenda?

I haven't read one single post who like the depts and gready owners. Not one. Everybody, as far I'm concerned, feeling bad for supporters who can't renew there ST. But I'm interested in my clubs financial condition. I want to see the good and bad without propaganda, either way.

I support the G&G. But I don't want a new owner for the sake of it. When we see and read about a better alternative then the Glazers I'm all in.

And Fred. I have been a member of MUST since 2006. I don't agree with everything but I want to support local lads who maybe can't afford a ST because of the owners agressive ticketpolicy. That's my contribution.

Being in debt is bad enough, people coming on here justifying them, and trying to tell me that the club is somehow better off for having the Glazers in control is nothing short of a joke..

If people are against the Glazers, they should be looking at ways to get htem out, not running around trying to find the good things they've done...

Its like running around saying "oh he's a paedophile, but he makes a lovely cup of tea so we'll forgive him"

There is no good side to the Glazers. There is no silver lining. There is no positive spin..

They are cnuts, and shouldnt be in our club end of story.. As MUST suggested to the sponsors.. If you wont help cure the problem then you are part of the problem...


If you are trying to convince people that all is well, then you are part of the problem....
 
I think Fred forgot to take his medication again

Soon he will be connecting me and GCHQ to the JFK assasination

Ironic you should mention the JFK assasination..

Did you know about Glazers old company being used for CIA operations in Cuba, and its previous owners being linked to the shooting of JFK...
 
Being in debt is bad enough, people coming on here justifying them, and trying to tell me that the club is somehow better off for having the Glazers in control is nothing short of a joke..

If people are against the Glazers, they should be looking at ways to get htem out, not running around trying to find the good things they've done...

Its like running around saying "oh he's a paedophile, but he makes a lovely cup of tea so we'll forgive him"

There is no good side to the Glazers. There is no silver lining. There is no positive spin..

They are cnuts, and shouldnt be in our club end of story.. As MUST suggested to the sponsors.. If you wont help cure the problem then you are part of the problem...


If you are trying to convince people that all is well, then you are part of the problem....

What if you are just telling the truth?
 
I have finally worked out who BraindeadFred is. Stay tuned, this one will blow your wig off...
 
Ironic you should mention the JFK assasination..

Did you know about Glazers old company being used for CIA operations in Cuba, and its previous owners being linked to the shooting of JFK...

yes I read your previous crazy post on the matter which is exactly why I mentioned it

Glazer shot JFK :lol:
 
What if you are just telling the truth?

The problem is, there is no "truth" in all this.. Its all pure conjecture.

Will the club make money ? we dont know..

It might it might not..

WIll the club go tits up, it might it might not..

The fact of the matter is we dont know, but theres one thing we do know.. We wouldnt be even worrying about the debt if he hadnt taken over.

We should be sat here talking about transfers, looking forward to the new season. Not worrying about what the feck is happening to our club..

The fact is, the clubs in debt. It shouldnt be..

That is the ONLY thing we should be focusing on.

Its like the life of Brian "what have the romans ever done for us"

"what have the Glazers ever done for us"

"erm.. they got a bigger sponsorship deal"

"OK apart from that what have they ever done for us"

"they increased EBITDA"

"OK apart from sponsorship deals and EBITDA, what have the Glazers ever done for us"

"They paid for Berbatov"

"OK, apart from Berbatov, EBITDA, Sponsorship deals, what have they ever done for us "

"they let Fergie get on with it"

And so it goes on.. and on... and on..
 
Being in debt is bad enough, people coming on here justifying them, and trying to tell me that the club is somehow better off for having the Glazers in control is nothing short of a joke..

If people are against the Glazers, they should be looking at ways to get htem out, not running around trying to find the good things they've done...

Its like running around saying "oh he's a paedophile, but he makes a lovely cup of tea so we'll forgive him"

There is no good side to the Glazers. There is no silver lining. There is no positive spin..

They are cnuts, and shouldnt be in our club end of story.. As MUST suggested to the sponsors.. If you wont help cure the problem then you are part of the problem...


If you are trying to convince people that all is well, then you are part of the problem....

Thanks for the answer.

Let's agree to disagree regarding who is "part of the problem"
 
Thanks for the answer.

Let's agree to disagree regarding who is "part of the problem"

Fair enough...

But can I ask, what do you perceive the problem to be, and more importantly, how would you like to see the problem solved, and what has to be done to achieve it ?
 
The problem is, there is no "truth" in all this.. Its all pure conjecture.

Will the club make money ? we dont know..

It might it might not..

WIll the club go tits up, it might it might not..

The fact of the matter is we dont know, but theres one thing we do know.. We wouldnt be even worrying about the debt if he hadnt taken over.

We should be sat here talking about transfers, looking forward to the new season. Not worrying about what the feck is happening to our club..

The fact is, the clubs in debt. It shouldnt be..

That is the ONLY thing we should be focusing on.

Its like the life of Brian "what have the romans ever done for us"

"what have the Glazers ever done for us"

"erm.. they got a bigger sponsorship deal"

"OK apart from that what have they ever done for us"

"they increased EBITDA"

"OK apart from sponsorship deals and EBITDA, what have the Glazers ever done for us"

"They paid for Berbatov"

"OK, apart from Berbatov, EBITDA, Sponsorship deals, what have they ever done for us "

"they let Fergie get on with it"

And so it goes on.. and on... and on..

You've obviously made up you mind about it fred, why not let the rest of us do so without derailing what has been a very interesting discussion up to now. If you can disprove any of the facts and figures Roodboy, GCHQ etc are posting I'm sure we would all be interested in reading them.
 
You've obviously made up you mind about it fred, why not let the rest of us do so without derailing what has been a very interesting discussion up to now. If you can disprove any of the facts and figures Roodboy, GCHQ etc are posting I'm sure we would all be interested in reading them.

As I said above, there are no "facts" as such..

Its all down to conjecture, and we see this all throughout the thread. I can find you countless articles from experts saying that the Glazers are in a mess. But there will be just as many showing how they are doing such a grand job..

Heres a prime example..

Someone posted an article from the Guarian where an accountant in a firm linked to football clubs said that the club wasnt in a good position.

Suddenly GCHQ is telling everyone on here the accountant is wrong, and he's going to check the financial times to see what they say.. Because the Guardian expert didnt agree with him, then he simply ignored it and went looking for the bits that would fit in.

Thats what this is like..
 
As I said above, there are no "facts" as such..

Its all down to conjecture, and we see this all throughout the thread. I can find you countless articles from experts saying that the Glazers are in a mess. But there will be just as many showing how they are doing such a grand job..

Heres a prime example..

Someone posted an article from the Guarian where an accountant in a firm linked to football clubs said that the club wasnt in a good position.

Suddenly GCHQ is telling everyone on here the accountant is wrong, and he's going to check the financial times to see what they say.. Because the Guardian expert didnt agree with him, then he simply ignored it and went looking for the bits that would fit in.

One side has to right Fred either we're in trouble or we're not. Do you not think the rest of us are intelligent enough to make up our own minds if given the information.

All I'm asking you is not to derail the thread and let the discussion continue as it has been up to today. Bottom line is we're all United supporters here, all we want is what's best for the club.
 
One side has to right Fred either we're in trouble or we're not. Do you not think the rest of us are intelligent enough to make up our own minds if given the information. .

But you are only being given one side and if all you see is the likes of GCHQ and co posting their view of it then you arent being given a fair crack at it.

Ask yourself this.. Would MUST seriously enter into an agreement with the Red Knights if they didnt believe there was a problem.. The RKs are a group of multi millionaires.. They know more about business than any single one of us here. When they say theres a problem, do you not think that they know what they are talking about ?

If the RKs accountants came on here, and told you their side of it, then it would be balanced. You could weigh up the arguments.

Go back and read the last 10 pages. There is no "balanced" arguments being given by those that say the club is OK.. If it were balanced they'd highlight also the areas of concern, they'd put over the RKs side of things as well.. But they dont.. THey spin the stuff we hear from OT and David Gill. They even produce reports written by people who are making millions out of all this, and say its proof they are right..

If I was making millions out of the club and came on here telling you that the Glazers were fantastic, wouldnt you suspect the money i was making may just influence my judgement just a touch.




Bottom line is we're all United supporters here, all we want is what's best for the club.

What is the best thing for the club....

I really want someone to answer that question....

Because so far, everyone "wants whats best for the club", but when you ask people what that is, no one seems to have a clue...
 
Fair enough...

But can I ask, what do you perceive the problem to be, and more importantly, how would you like to see the problem solved, and what has to be done to achieve it ?

Good question.

The reason we have owners like the Glazers is because of the UEFA/FIFA regulation and the law in EU/England. The new UEFA rules makes it more diffucult and less attractive to own a football club for financial reasons. That is a start.

I think the FIFA/UEFA/FA should give more power to supporters. I don't know how but it must be a power-balance between owners and supporters.

Owners like the Glazers follows the rules. They are no criminals and they are not the problem. The rules are the real problem. Change the rules and you change the owners. So my suggestion is. Protest against the goverment and the FIFA/UEFA/FA.
 
Good question.

The reason we have owners like the Glazers is because of the UEFA/FIFA regulation and the law in EU/England. The new UEFA rules makes it more diffucult and less attractive to own a football club for financial reasons. That is a start.

I think the FIFA/UEFA/FA should give more power to supporters. I don't know how but it must be a power-balance between owners and supporters.

Owners like the Glazers follows the rules. They are no criminals and they are not the problem. The rules are the real problem. Change the rules and you change the owners. So my suggestion is. Protest against the goverment and the FIFA/UEFA/FA.

The problem, and certainly in the case of the FA, is the clubs are the governing body.. Or at least they are the ones that control it.

What would be the use of complaining to the FA when the FA is being dictated to by the club owners.

Then of course there is UEFA..

You could complain to them, but ultimately they are running a business, and as we've seen before, the clubs rule the roost. Especially the big clubs. WIthout the big clubs UEFA doesnt make any money, so they rely on the big clubs to earn them money.

Can you ever see UEFA seriously bringing in a rule that would prevent Real, United, Chelsea, Barca, Juve, the two Milan clubs, Bayern Munich, Lyon, etc from playing in the CL.. Not a chance..

If all those clubs threatened a breakaway then UEFA would bend over in double quick time.

The big clubs rule football, and what they want, they get..
 
Christ Fred, you really are completely insane.

Goodnight.

Goodnight? finally we agree this thread has served its purpose, there is nothing more that can be said on either side, most posters have long since stopped posting on this thread and it has been left to a few of us repeating the same old story and most of the recent stuff has been bordering on personal
The Glazer brigade have won the battle, Manchester United will remain in control of the Americans, the like of me can rant and rave but there is nothing can be done about it. I feel I have the right to complain though, I have 3 season tickets and live in N Ireland, supporting Manchester United costs me a small fortune, the logistics are expensive. I feel I have a right to speak out
I look forward to the day that the money I spend is spent on the club even though I admit that is idealistic. Anything I have posted in this thread I defend by the fact that I am a Manchester United Football fan and not an accountant who twist a set of figures to make them look good. Again the purpose of this thread is over, better it closes
 
I bumped this thread about 10 days ago after being asked a specific financial question in another thread.

My intention was to provide a detailed analysis of our recent accounts which I hoped would go some way to explaining my point of view regarding the current financial situation of the club. For the most part this seemed to stimulate some good discussion with some people questioning the theory behind the analysis and others posting some alternate opinions and estimates.

Unfortunately, somewhere along the line, a couple of posters made it very clear that they were not interested in hearing the facts about our finances and have gone out of their way to derail the discussion. In fact one has gone as far as to completely misrepresent my point of view and that of others. I am glad to see that many of the more open minded posters on here can see through the obvious agenda.
For the record, I am neither pro nor anti Glazer - I dont think things need to be so black or white. Also I have never said that the club is better off with large debts than without it or anything to that effect - in fact I dont think anyone has.

Regardless of what others want, I will continue to post business related information and my own views on our finances in this thread.
I welcome any responses from those who do not understand or agree with what I have to say, but I will not waste my time responding to those who have made it clear that their only purpose in this thread is to post inane drivel and lies.
 
The PIK loan isn't secured against the assets of United so that's quite a key point to clear up for a start. The cost to the club of the c.£500m debt is of course included within the figure of £162.3m (which includes one-off financing costs of £80m).

£162.3m is the net amount of cash that has left the club under the Glazers compared to what would have happened under the PLC, if we work on the assumption that the PLC would have generated the same revenue and cash earnings that United has under the Glazers ownership. That is where the comparison becomes very difficult to make though. Would the PLC have matched the revenue and cash earnings that United have achieved under the Glazers ownership?

We'll never really know exactly but it seems fair to assume that the amount generated from matchday and commercial revenue in particular wouldn't have been as high. If you agree with that assumption then in order to make a relatively accurate comparison between the two ownership structures we get into a very complex set of calculations.

We firstly need to come to some sort of agreement of the positive impact on EBITDA that United has benefited from under the Glazers ownership compared to what would have happened under the PLC structure. I would suggest a figure of £15m based on last year's (year ending June 2009) results. What has the total combined positive EBITDA impact been over the five year period? My suggestion would be a figure of £50m. Now clearly you then need to take off the reduction in corporation tax and dividends from that £50m of EBITDA that wouldn't have had to be paid out under the PLC structure, I'd estimate £20m, so a net improvement for the club of £30m over that period. So on that basis the £162.3m figure becomes £132.3m in terms of the comparison of the two ownership structures. So just over £300m down on your original estimate.

Now before anyone starts having a heart attack, I of course recognise that the majority of the positive EBITDA impact that I think the Glazers ownership has added in comparison to what the PLC would have achieved in that five year period, has come from higher ticket prices and therefore to the detriment of the matchgoing supporter. I have suffered from those ticket price rises myself, believe it or not!

My whole argument is based solely around what the impact has been on the finances of the club itself. Too often you have people throwing figures around that just can't be backed up when they're looked at more closely. And that is what annoys me really. It's not that I'm pro-Glazer or anything like that. It's just that I would like people to present an accurate picture of the club's financial position, which is very healthy as far as I'm concerned, without having to use spurious and sensationalist arguments and figures in an attempt to justify their particular point of view.

Tell me if I'm wrong but does this guy sound like he tucks his shirt inside his underpants!
 
Is that what they are saying or is that how your reading it?

Ive not seen anyone even remotly claim the Glazers to be good owners of Manchester United, if you can point me in the direction of anyone saying any such thing by all means do so.

Sounds familiar........

I'm not a racist, I mean some of my friends are black but.........
I don't hate fags, I work with gays but....................................
I can't stand the glazers and what they've done to United but.....
 
For those who need a recap, fred thinks roodboy and gchq are one and the same. Thr mods will be able to tell if they post from the same ip. If that is so can they please be banned. If not can this also be clarified. That way fred can either eat himself or be committed.
 
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