Yeah but Glazer propaganda, mate
Transfer Tweets - Manchester United - 2022/23 | Follow the OP rules and check the quality of your sources before posting. STAY ON TOPIC!
- Thread starter mazhar13
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Whoops! My bad!
We have 24.3m in the bank, down almost 100m from a year ago. And guess what! You too could see our financials, because - and this may blow your mind - we're a publically traded company! I know!
If you open this thing called Google, or even better, Google Finance, you can read all about us! And the Glazers only paid me a fiver for posting this here!
"Cash in bank" is not how finances of an organization like United are managed. We have constant inflow and outflow of cash, related to broadcast, commercial, and merchandise revenues, bitten into by salaries and other operating expenditures. There is no way to conclude from any of those current flows that we are financially broke. I have looked into various reports and we look about the same as we always do, check out yourself if you will: https://ir.manutd.com/financial-information/quarterly-reports/2023.aspx The details in those reports are far from overwhelming, but it is also clear that there is no official word of looming bankruptcy, either.
Now the way to think about it is: we are allegedly valued at 5-6 Billion, with annual revenue of over 500million. We may not be able or willing to pay 80-100 mil for anybody, but we can absolutely dig up 35 million for one critical transfer because
1. It is usually not paid all at once
2. We saved quite a lot on Ronaldo wages
3. If we don't strengthen to make top 4, we lose 50 million on Champions League payments and lose revenue from sponsorships for not being in UCL.
Also, why can't we sell somebody like DvB and raise some money?
Any reasonable executive, or financial manager, under these circumstances, would conclude that the pragmatic decision is to buy Gakpo, increase our chances for making top 4 and keep going. Not just because we love this club but this is actually good financial decision... if you care about long-term financials of United.
The catch is - Glazers want to sell and seem to just not give a shit, anymore. That doesn't mean they need to trash the club before the sale. Liverpool clearly isn't doing it that way, but these are Glazers and seeing how they encourage narrative of "we are broken", you can conclude they just don't want to spend.
Not the same as us actually being unable to spend. I can guarantee you we can put together 35 mil, or even 50 if we wanted to.
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Arguments like a flat earther.
I have looked at all these documents. None of them show (or are supposed to show) our current bank balance on Dec 29th. Neither does bank balance mean anything. Publicly traded company is not your wallet. I explained in more detail in my previous post. You are welcome to read.
You know this is all public information, right?
I do, but it seems like you may not have looked into any of it. I encourage you to look into what is public https://ir.manutd.com/financial-information/quarterly-reports/2023.aspx
Our annual report is from June, and there is a quarterly report that is most recent, but there is no sign of bankruptcy in any of those.
Bankruptcy, no - but running out of ways to finance transfers, yes.
The quarterly report paints quite a bad picture to be honest. Total debt at its highest levels ever, another operating loss, a huge jump in interest expense and cash reserves at their lowest levels too. All the while we sit top of the charts for transfer debt and wage bill.
The Swiss ramble does a good breakdown here:
https://swissramble.substack.com/p/manchester-united-finances-q1-202223
Worth a read.
When/where has anybody said anything about bankruptcy?
It’s already been publicised that we are looking for loans cos transfer cash is tight. Although I suspect you won’t be convinced by any such arguement so I’ll stop trying. We’ll see what happens next month.
There's a reason why the Glazer's are selling and it's certainly not because we are awash with money.
Thank you. That's an interesting read
No problem. He regularly combs through the statements of different clubs, so it's always worth a look at what he posts.
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Oh boy:
None of that matters if the club came to the conclusion that Gakpo isn’t the difference between top 4 and not qualifying. Personally, we’ve had lots of players like Gakpo in recent years. I’d rather see a proper no9 come in but that’s me.
Regardless, it's not wise to have too much player turnover at once. Irrespective of the quality of the player you're bringing in.
I'm going to give you the benefit of the doubt here, but I'd suggest moderating your tone on areas you clearly shouldn't be asserting yourself on.
Uniteds financial situation is worse than its been at any point under the Glazers for very obvious, public reasons. There are plenty of posters on here with backgrounds and expertise in financial statements who would concur with this sentiment. I wish it were otherwise, but the reality is we're cash broke. We can take a pre arranged loan, but that is not likely given the owners desire.
That is a great point. But Gakpo is not somebody you or I chose, it's who EtH wanted, remember? I trust my manager. He earned it, and if he says Gakpo is who he needs to make the difference, who the f.. are Glazers or Murtough to say different? The point is, what EtH wanted, wasn't even that expensive. We are not talking about Osimhen, for 100+ million, we are talking Gakpo for the low price of 35 mil, which can be payed over time. Remember, if we don't make the UCL, Adidas payments alone will be 22 million less next year because we would have missed UCL for two years in a row. This thing ain't as simple as "we don't have cash in the bank". The only time a club like United can't pay 35 mil, is if we are bankrupt. We are not (yet). And OBVIOUSLY when we get bought, new owner will pour serious money into the club, there is no other reason to buy United, if they don't want to do it.
You're speaking about finances like it's all black and white.
Either you buy Gakpo or you're broke.
We didn’t have the money to pay “upfront”
PSV are in financial trouble themselves and wanted the majority upfront. Liverpool could do it, United couldn’t.
Swing and a miss
I'm 100% sure there's a Glazer thread somewhere. This is a transfer tweet thread.
I actually don't know ETH wanted Gakpo that much. Reporters stating that ETH was disappointed etc are just selling clicks. He may have wanted him but was told it may prevent a more suitable long-term striker signing in the summer (if say we want Osimhen or Ramos for £100m and we spend £35m now then we may only have £65m for a summer striker signing).
Don't get me wrong I'd love a forward to come in and boost the numbers as we are definitely a touch light but at the same time, I'm not going to get wrapped up in paper talk about who we may or may not have wanted.
Had a pint with Erik last night. He told me he definitely wanted Gakpo and Murtough is a prat. True story
The tone of the last one is a bit different. It's more about quantity over quality. Whereas it's normally been about them needing to improve the team, rather than making up numbers. Potential stop-gap signing incoming. I was getting a bit optimistic that behind the scenes a sale was being discussed and potential new owners would prefer taking over a team that is odds on to make the CL.
Yeah, that's exactly why I posted Whitwell's Tweet as well. It looks like we're open to having more bench options, so we might bring in a less fancy name as long as they offer us a decent amount of quality off the bench.
£16 million for a loan for 5 months . Are you actually been serious ?
Also the technical options quote, seems to me like that says we'd need a more physical, pressing or back to goal forward.
Also that he refers to the thick and fast fixtures so (hope) it's not a drawn out saga waiting all window. He needs a striker in pronto.
Aye. Not ideal. An injury to Martial and/or Rashford and we're paper thin. If we're having to play a stop-gap squad player for any stretch of games it could definitely be an opportunity lost. We're already a Varane injury away from having to compromise significantly on our tactical setup. And at the other end we're not getting anywhere near enough goals.
I'm sorry, but am I the only one who thinks this is absolute madness!? Like, he has the potential to be good, but a €120 million!? After they already spent so much in the summer? Just... how?
If Benfica pull this off...
Meanwhile, we can barely afford a loan...
If they want him in Jan it will be more than 120 mill. They want to pay in instalments so will have to end up paying more. Wouldn't be surprised if it ends up 150 mill. I'm a fan of the player but that fee is ridiculous.
No you're not alone. It's absolutely ridiculous money for a player that hasn't really got a track record yet. Looks a decent player from what I saw in world cup but not sure he's worth breaking the PL transfer record for. If Messi had already retired, Argentina would have gone home empty handed a good week or so before they eventually did.
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