Not changed my mind as such, but I’ve definitely learned plenty.
Club Sale | It’s done!
- Thread starter JB08
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No but I’ve quickly learnt why war is still alive and well from this thread. People will back their point no matter what.
Lets not make major decisions on a whim based on what they seem. No one has ever seen Jassim in person, everything we've heard so far has been fed line by line to the Daily Mail.
Changed my mind from wanting Ratcliffe as soon as it was revealed they wouldn't be clearing the debt
Agreed, except the money has run out and covid has made a huge negative impact on our revenues/finances. Our commercial income has stagnated/reduced.
We're also saddled with a shiteload of debt that is now going to be increasingly difficult to service. Finding someone dumb enough to "wipe it out" is extremely rare. So far we've only found one that will do so.
We're not going to be able to spend anywhere near the same amount as last summer. In fact, the glazers have allowed such a large spend last summer in one last hurrah as they shrewdly realise a players fair value on the balance sheet can be manipulated to be worth far more than any cash in bank.
hang on, should Mancs be thankful their council sold off a shit tonne of land at a dog shit price in a massive Middle Eastern land grab?
Kin ell I’ve heard it all now.
Big difference. They will not invest in infrastructure, build a new stadium, new training ground with their own money while the other 31% take a free ride.
We're not making the decision though, thankfully.
I just want Utd to be able to spend their own money again without a bunch of people in Florida taking millions out of it every year.
It costs less than 20m a year to service, so stop making things up to suit your narrative.
If he is joined by a US investment fund, yes.
You’d make a right mess of your screen and not really achieve anything anyway.
Unless of course it’s the banker partnering with an investment group, or his Dad, or the Qatari state, or a mixture of all of the above.
Then you want a partnership right?
Imagine thinking 20m a year wasn't a high figure.
Imagine thinking this figure won't continue to rise as we aren't servicing the debt and interest rates are rising at astronomical rates which will be reflected in this financial year.
Not the brightest bulb are you?
I have no problem if Jim takes a loan from a bank and put it on his company. But partnering with an investment fund is where we should draw the line.
Imagine thinking 20m a year wasn't a high figure.
Imagine thinking this figure won't continue to rise as we aren't servicing the debt and interest rates are rising at astronomical rates this financial year.
Imagine thinking all loans are on non-fixed term rates.
And 20m is next to nothing for a company with revenues in the 600m region.
NoIsn’t that exactly what Jassim is doing
Imagine thinking our loans were fixed term rates
You're borrowing from a fecking investment bank not your local regional bank mortgage
In case you haven't looked at our financials, we're making losses. 600m revenue but what are our costs? Profit margins?
This is based on 2020 rates and I don't know how long the maturity on that is. It's also US-dollar denominated which means the pound cratering doesn't help.
Care to tell us the debt maturity profile or are you just spitting flames at posters who do not agree with your uniformed opinions?
Care to tell us before claiming it’s becoming increasingly difficult to service.
Clueless
How’s he paying it again?
This goes back to a question I keep asking. If a huge investment isn't expected (call it infinite spend or whatever you like) why even back the Qatari bid?
So state-ownership is fine as long as it's a big club? That's quite an odd line to draw.
City's success was slated before the accusations of cheating ever came out.
For the record, I'm not anti-Qatar or pro-INEOS. Either could suck as owners or be amazing. You also won't see me making any moral arguments against either party. What I'm trying to understand is the hypocrisy and mental gymnastics behind wanting Qatar ownership and the constant bashing of INEOS.
The glazers have been kicking the can down the road in regards to capital repayments on our debt. Nobody knows when that will be coming due either. It could be soon hence why they are selling the club. Trying to refinance that in this day and age will cost the club significantly higher interest payments.
Don't forget the overdraft facility that those scum owners took out during covid.
We're likely paying upwards of 6%-8% on that if even. None of which has been serviced since Covid. At least that we know of.
When did Ratcliffe/Ineos reveal this?
Imagine if the two others were bartomeu / laporta looking to invest...
The only thing that's changed is the goalposts.
Well maybe but the Glazers shares gives them 100% control either way and there is probably a process in place that any new owner has to buy all the other shares anyway.
But even if there isnt I don't realistically see either party spending £5-6b on United and then not looking to get ownership of the other 31% at some point. There would be no massive rush as any new infrastructure would still take a few years to get started.
Imagine thinking our loans were fixed term rates
You're borrowing from a fecking investment bank not your local regional bank mortgage
Oh wow, you don’t know the original 500m bond issue was in order to receive a much better fixed rate on the interest whilst paying off the horrendous PIK loans?
And you’re the one laughing
Partnership?
I'm also interested to know how he's paying for it without partnering up with anyone.
hang on, should Mancs be thankful their council sold off a shit tonne of land at a dog shit price in a massive Middle Eastern land grab?
Kin ell I’ve heard it all now.
Should really talk to the people on the ground there and in the communities as they ain’t got a chance of their own government investing.
Yes that doesn’t make the political situation in said countries any better but your telling a story strictly from one side.
https://www.sheffield.ac.uk/crafic/research/manchester-centripetal-city
I’m from Manchester mate, so I ”talk to Mancs on the ground” pretty fecking often.
And are you actually pretending Manchester hasn’t received feck tonne of government investment? Have you not been to Manchester the past 10 years man?
Foreign/outside investment is many times a double edge sword. I've lived in Austin, San Francisco, and now NYC, cities that have transformed due to this kind of investment, and if you talk to locals many lament the building of expensive housing that prices out locals and upends the historical aesthetic of the city. Usually, jobs are created in the construction and retail sectors, but it's not a clear-cut positive for all locals. Granted I don't know the specifics of this case but it isn't cut and dry.
But it’s just easier to post a laughing smilie rather than explain how a man who doesn’t have 6bn to spend is promising to spend much more than that.
Oh wow, you don’t know the original 500m bond issue was in order to receive a much better fixed rate on the interest whilst paying off the horrendous PIK loans?
And you’re the one laughing
Partnership?
If you're going to google something, then maybe you should actually make sure you know that the bonds matured in 2017.
Why don't you open up our 20-F and actually look up our current situation.
Why are you even trying to argue with someone who clearly knows a feck lot more than you about these topics?
Are you that fecking stubborn?
Not really even sure why you're being an arse to people on this board, when they clearly have valid opinions and facts.
And not be backed by the state. Gynansticsemoji.gif
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