Spoony
The People's President
So basically we've got debts of in billion quid. And it's all pretty shite?
Yep, we're hollowed out. And we're not buying anyone in January unless sale talks are a lot more advanced than we know.£24m in cash balances with a total debt/outstanding creditors list of £1.1bn. Lovely
Yep, we're hollowed out. And we're not buying anyone in January unless sale talks are a lot more advanced than we know.
So we have only £24M left to spend in January and the summer? If we spend that money does that mean we are bankrupt?
Brilliant more debt onto the club by the leeches can't wait till they are gone.24m is the cash balance, not the transfer budget
and no we won’t be bankrupt just in more debt
I think so, seems the sale (entire or stake) is pretty much forced at this point.
Mental. You are absolutely right, sale is being forced on them. This probably means they are not selling from a position of strength, buyers will obviously know this from a thorough due diligence process. We might be sold for less than people think. Not sure if that makes too much difference to the club or just the Glazers.
What it does probably mean is that we will be sold relatively quickly as Glazers can't really sit around too long considering various offers/proposals.
24m is the cash balance, not the transfer budget
and no we won’t be bankrupt just in more debt
I was lying in bed thinking about all this last night because I'm a lonely sad cnut
But basically I remembered the rumours that the Glazers were starting to disagree on whether to sell the club or not (which now seems resolved and they will take offers) And thought about how we spent so much in the summer. Seemed like a desperate attempt to star-study the squad a bit. Then i remember Arnold telling supporters that the money has dried up (despite spending so much)
I don't know what my point is. I'm just a stupid fanny really. But it makes you think doesn't it
I was gobsmacked we spent £200m last summer.
When reports of £20m bughet came up last summer, I was ridiculed for saying they were believable. Our finances are in poor shape, repatively.
1.1 billion.So how much has our debt increased to?
Erm ....... ?I was gobsmacked we spent £200m last summer.
When reports of £20m bughet came up last summer, I was ridiculed for saying they were believable. Our finances are in poor shape, repatively.
You're absolutely correct, Fergie's genius somehow kept us at the top domestically. But ultimately it cost the football club and Fergie himself, because we probably could've won another one or two European Cups if the owners hadn't saddled the club with debt. We sold Ronaldo for a world record sum and didn't show any ambition to build a even better team with the proceeds received. The attitude of the owners and David Gill at boardroom level seemed as if they were just happy with the bare minimum. And the decay had even set in at youth level which only became visible years later.
If there was a manager that wasn't backed by the owners, then that manager was Fergie. But Fergie was so great at his job, that David Gill somehow was seen as being competent.
I was gobsmacked we spent £200m last summer.
When reports of £20m bughet came up last summer, I was ridiculed for saying they were believable. Our finances are in poor shape, repatively.
Fergie's magic allowed the club to spend later on. He navigated the squad through the most difficult of times when the interest payments were at the highest.
But it has now caught up with them. Hopefully we get our club back to where it should be.
It probably lowers the bar on who could buy us also. Not sure if that’s a good thing or bad thing, but I can’t see it being a good thing for us..
Might be my naivety here, but surely more buyers would result in some bidding war, which would likely end in us taking on owners with the deepest pockets?Hm, I can't see that being a good thing either. The more people in the running to buy us, the higher the chance of getting another Glazers/Mike Ashley
Might be my naivety here, but surely more buyers would result in some bidding war, which would likely end in us taking on owners with the deepest pockets?
I don't fear another Glazer situation since leveraged buyouts are thankfully no longer permitted, though I do fear the prospect of US ownership since they seem a bit shit and only really focused on the commercial aspect. Hopefully they get priced out by those that are willing to invest considerably into the club.
Neither am I, but my understanding is we're only really paying the interest on the loans we've taken on from the leveraged buyout, while taking on more loans and hence debt to consolidate existing ones. So we've not actually been paying off the debt, hence why its gone up. But I could be off the mark here.I'm not a financial expert so...how has our debt risen to a billion?
This is one of the single funniest posts I’ve read in agesI was gobsmacked we spent £200m last summer.
When reports of £20m bughet came up last summer, I was ridiculed for saying they were believable. Our finances are in poor shape, repatively.
Okay, is it possible that the strength of the dollar shas been a reason why it's gone up?Neither am I, but my understanding is we're only really paying the interest on the loans we've taken on from the leveraged buyout, while taking on more loans and hence debt to consolidate existing ones. So we've not actually been paying off the debt, hence why its gone up. But I could be off the mark here.
I'm not a financial expert so...how has our debt risen to a billion?
That's my expectation. But I don't see why that would necessarily be a bad thing. Again, presumptuous naivety on my part perhaps, but I always thought that the richer the owners were, the less inclined they'd feel to immediately take money out of the club, or at the very least would be more patient in expecting returns on their investment. I know the oil states would consider it a non-factor and would be happy to aimlessly invest huge amounts for their sport-washing endeavours or simply as a vanity project, whereas a US based consortium would expect they'd be inheriting a cash cow and be looking for near immediate returns.When I say another Glazer I mean more of another set of crap owners who just seem to try to focus on the commercial aspect of things without the football side of the club being run properly.
Also, and this is a statement coming from someone who is not literate in financial stuff at that kind of level, if the price is higher, then the people interested would be the ones who have deeper pockets, no?
Borrowings, likely meant to finance short/mid term installments.
Fergie and Busby made this club as great as it is. When Fergie joined United from Aberdeen, we had won less league titles than Everton.Fergie's magic allowed the club to spend later on. He navigated the squad through the most difficult of times when the interest payments were at the highest.
But it has now caught up with them. Hopefully we get our club back to where it should be.
The weakening of the Sterling has almost certainly played a part, yes.Okay, is it possible that the strength of the dollar shas been a reason why it's gone up?
So basically, they have to sell? Looks like the ESL non show has forced their hands.
It probably lowers the bar on who could buy us also. Not sure if that’s a good thing or bad thing, but I can’t see it being a good thing for us..
It's clear without CL football there's no way we can keep spending £200m every summer.
1b in debt will definitely effect the price the Glazers want that's for sure.
I'm not sure how anybody can say it'll be inconsequential. We simply aren't earning enough money to clear the debt, sign players/pay big wages.Not really. A large amount of it is current players for which with haven't finished to pay or in some cases we may have not even started to pay. For a new owner that is largely inconsequential, it's not as if Football is an upfront payment industry.