If PSR was an issue why did INEOS spunk £200m on Hag signings in the summer?
Club ownership | Senior management team talk
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In the latest episode of the United Hour Podcast, Nik (@Rood) and Jamie (@Vault Dweller) are here to celebrate rare back-to-back victories for Manchester United! They analyse the late win in the Europa League vs. Rangers and then try and find things to analyse in a pretty dour game vs. Fulham. They also chat about the latest Marcus Rashford news, and look at the latest transfer news.
“They” have not put money into transfers time and time again, though. The money was generated by the club, and the club could have spent even more (particularly during the late 2000s when we had the chance to build a long-lasting dynasty, and on infrastructure) if not for the Glazers' debt, dividend and strategic review payments.
Yes, they are to blame; the buck stops with them, ultimately. The fact that they couldn't find highly competend people to run the club, even after a decade, speaks to their failings as owners of the sporting institution. One might argue that Manchester United has been the most under-performing club of the modern era (relative to revenues), as a direct consequence of their ownership of the club. Matter of fact, I can't think of even one way they've benefited the club (in contrast with the Agnellis at Juventus, Berlusconi at Milan, Mansour at Manchester City, Abramovich at Chelsea et cetera). There's only a loooong list of cons with this lot.
I don't think people have fully grasped the impact higher interest rates will have on the club. The world has gone from an era of 'free money' to risk-free rates of 5%. Whichever way you look at it, that's a huge change for an organisation carrying as much debt as United.
None of their money though. We are broke through that
Just came in here to post this. Just so we’re clear, every single ticket price rise, person sacked, cost cutting measure, is because of these interest payments. One of our best young players is being sold to service the Glazers debt.
FYI. Interest is also included in PSR calculations.
This is absolute conjecture. Nobody is ‘playing a card’. Guess what, the club IS broke. Thats why we are in a sell to buy scenario and at risk of PSR sanctions. It’s not an agenda and it is sadly very necessary.
We’re broke because of the Glazers. The Glazers are still here with high interest rates because of INEOS. This current situation is very much INEOS’s fault.
How can they fix it? How about they clear the debt and loan that money to United. They won’t though.
Username checks out. No they weren’t.
That letter to the fans is such BS. The club are openly telling investors they won't breach PSR, and that aligns with reality. The £150m loss from the 21/22 season won't be included in the 3-year calculations going forward.
The cash flow is fine, and we aren't close to breaching PSR, the club are using it as a red herring. INEOS want to make all of these drastic cuts (the mass job losses, etc) and still take the piss out of the fans with ticket prices.
It's a disgrace.
The cash flow is fine, and we aren't close to breaching PSR, the club are using it as a red herring. INEOS want to make all of these drastic cuts (the mass job losses, etc) and still take the piss out of the fans with ticket prices.
It's a disgrace.
Leave him, he was Ratcliffe's biggest supporter and now because of how it's played out he's the biggest mug on here
I hate how they signed off as Manchester United. The fan letter in response should do the same and tell those suits that haven't done jack shit for the club to do some positive things before they feel comfortable being in charge. INEOS has been a massive disappointment so far, they haven't cleared the debt and haven't invested any of their own money and we've turned into a team that is going to strip itself of assets and raise prices at the same time.
Its pretty obvious... we sold 100m worth of players.
You sell players, free up money to buy... which is what they want to do now too.
No they aren’t. The Glazers were never going to sell, barring some unlikely astronomical offer which never materialised. The ‘strategic review’ was only ever about raising money so they didn’t have to dip into their own pockets. Thats why they went against Raines advice and had a third round of bidding. They wanted to maximise the price.
Please remember that INEOS won the bid because they valued the club higher than the Qatari bid throughout the entire process. The Qatar bid was happy to shout about clearing this, spending that and buying so and so but never backed that up with a serious offer.
We need to stop dealing in dreamland hypotheticals and deal in fact. The deal that was done was the only one available to investors because the Glazers were very much in control of the process.
Taking names, eh?
Qatar soiled themselves boasting about consent money gentrifying Trafford. Once they uttered such, the Glazers played them, with 'Plan B' Jimbo back-up.
The Qatar cheerleaders must surely wonder how a state bid loses to an industrialist, even if a symbolic albeit phrryic defeat of the Glazers never materialised.
Possibly look upon the Geordies with envy.
Why would INEOS buy the club for 5b for a club having revenue of only 650m if the club was outright broke? Unlike a lot of the other clubs, we actually have a good wage to turnover ratio and "potential" for healthy financials (50% w/t and will fall further next year once we get rid of Rashford, Casemiro, Eriksen, Shaw, Antony). It's been 6 months since they took over and these issues which didn't seem to exist then suddenly started to get highlighted in front page of news papers.
They're doing what any investor would do, maximize revenue streams and cut cost to further drive share prices being supported by top notch PR.
United fans really need to wake up and realize the mess we're in. We're damn broke and the weight of the debt cannot be carried anymore. If Ineos dont find a solution soon, we will implode.
The issues where there for years! Only problem were fans like you who did not want to believe it because we were buying expensive players.
So this doesn't include their own salaries and dividends and the cost of their consultants for the sale of the club that has supposedly cost tens of millions
We added another leech on the existing leeches we have at the club.
What has that tweet got to do with INEOS or Ratcliffe?
People just want to hate on him
Then don’t play poor to the fans and say they have to increase ticket prices because of PSR.
Nothing. I just want to point out that Ratcliff is another leech.
Perhaps because INEOS, which in reality means SJR, might not actually view it as an investment as such
SJR, irrespective of anything else he might be, is a hard-nosed savvy business man, he didn't get where he is by not being one, buying what he has of United at the price he's paid is not a savvy investment, in fact, viewed as just an investment it's a terrible one, so that's probably not the motivation
Would you explain how you arrived at that conclusion?
The Qataris couldn't even stump up the cash in the first place...
I agree to an extent - hence saying they were sanctioning the spending.
Unfortunately, they were also responsible for the running and management of the club - as their asset - whether we like it or not.
With that comes responsibility for ensuring that funds are allocated and spent appropriately.
The poor management has taken place on their watch - but I accept that they did not directly make many of the mistakes.
Given that, thus far, they have put actual funds in, and that the club has continue to make a loss, I struggle to see how they are leeching anything (as yet).
That may change over time, but certainly isn't the case so far.
I'm sure he cares what some lunatics say on a forum, yesPoor Ratcliff, he must be devistated.
As many here written, I believe he has no big interest in bringing back the club to glory. His main aim is to increase the value of the club regardless of our football and doing it as a pure ruthless businessman with no regard to emotions attached to the sport itself.
Go on, he will be proud of you defending him on a football forum
.But wait a minute, if he doesn't give a shit what people writes about him on a football forum, why are you?
Have you got any evidence of this though?
Poor Ratcliff
I'll leave this judgement to a future date, but this is the same SJR who tried to take over Chelsea not so long ago. For me, everything so far is done to unlock value and drive share prices. I will be the happiest United fan if I'm wrong in my thinking.
They (partially) bought it. That's enough.
I do get the criticism for true mismanagement (and there is a lot of that), but posts like yours always seem out of touch to me.
United is a company, it formally isn't a club.
Which means you are not a member, you are just a fan and customer.
That's the reality of English football. It rewarded you with the best and economically strongest league, but that's the price you have to pay.
Everything he has done until now is an evidence that he has no sentiments to the club. What does few thousands paid to retired footballers from the club add to him? Its fecking one week salary of one of our overrated players.
Raising ticket prices on loyal supporters that already paying premiums to watch nothing but tumescent football. And off course sacking half the working force of local employees.
Ineos have put funding into the club. Not sure what you mean by another leech?
From what I understand, the last season they took dividends was 21/22 (maybe this is why the loss is £20 million more than last year?) obviously they took out huge amounts up to that point that could have gone into infrastructure. They aren’t able to take out any now due to the Ineos sale.
Any dividends also don’t fall under PSR calculations.
The club is haemorrhaging money. We aren't charity. Some unpopular decisions need to be made for the best of the club.
Ratcliffe is making unpopular decisions to try and get us back on firmer financial ground. You called him a leech, he's not putting the fecking money saved in his own pocket is he?