Bad financial news...

davisjw · 6th May 2008, 14:37

I think it's fair and safe to say that the Glazers and United are keeping hush about our finances and what you read in the press and from supposed accountants on the web is guess work at best.

See as they've run a sports team for years and are very very good businessmen, I'd presume the family is not going to take on a debt they can't get out of. The said article really shows no pure evidence. As they offered a nice sum of money last season and so far as we know this summer there are ample funds plus the TV deal and record "profits" for this season it's safe to say what's going on behind closed doors at United is nothing we should worry about.

I think Ronaldo is far far behind Beckham in terms of world status in the celebrity world and thank the stars for that. Beckham is known every where and has ads every where, Ronaldo at the moment has stayed away from the mass celebrity/ endorser route that lead to Beckham's departure.

dhstriker · 6th May 2008, 14:42

Quote:

Originally Posted by Chris H

An operating profit of £75m for last season has been outweighed considerably by interest on the Glazers' debts and "other accounting provisions". Not sure how much of this is new, but it does sound like there's some reportage of financial records recently made public, so I thought I'd post it.

The Guardian has no way of knowing what United's finances are because they're not a publicly traded club anymore. It's all speculation and made up numbers.

ralphie88 · 6th May 2008, 14:51

Quote:

Originally Posted by dhstriker

The Guardian has no way of knowing what United's finances are because they're not a publicly traded club anymore. It's all speculation and made up numbers.

er... Red Football's finances have been released. What do you think this discussion is all about?

Dresilved · 6th May 2008, 15:01

Quote:

Originally Posted by George the Giraffe

If I remember correctly wasn't "David Beckham" one of the most recognised brands throughout the world? I've no doubt that Ronaldo can replicate this.
I know this kind of thinking is wrong, and we should look at players based on their skills on the pich. But the fact is Football is more than just a sport now. We just have to look at the removal of "Football Club" from our crest in 1998.

It'll not happen till gets himself a steady high profile girlfriend, Victoria was as important to Beckhams rise than anything else, Ronni definitely has sex appeal, but beckham had more and had more charisma too.... Ronni's still a bit arrogant, Beckham was a lot more modest and made for a better role model, ronni needs to be a more complete package before that happens..... even though his football is far better than beckhams, which as far as I'm concerned is just fine, I dont want him to get distracted the way beckham did.

Tibs · 6th May 2008, 15:14

We could do with winning the EuroMillions when its on a super rollover

theimperialinn · 6th May 2008, 15:25

Quote:

Originally Posted by peterstorey

That's bollocks - anyone with half a brain can see the net profit doesn't cover the interest payments (including the roll up on the PIKS) which is why you're more heavily in debt.

I was talking more in the sense of what the accounts are actually telling you

Nialler · 6th May 2008, 15:26

If the clubs finances are as gloomy as they are being painted what are the Glazers actually getting out of owning the club? I'd love to know why they bothered buying the club in the first place as they must realise by now that our "profits" will only continue being high as long as the team are doing well in the league and Europe and in order to maintain that they will need to add new players every season (bought from profits) and continue paying sky high wages. What with the debt etc surely they are making no money from owning the club ? I'm confused.

theimperialinn · 6th May 2008, 15:28

Quote:

Originally Posted by ralphie88

er... Red Football's finances have been released. What do you think this discussion is all about?

I think he means more in terms of the disclosures required.

Plc's have to be more forward with information while Ltd's only have to comply with the minimium requirements of the companies act.

theimperialinn · 6th May 2008, 15:31

Quote:

Originally Posted by Nialler

If the clubs finances are as gloomy as they are being painted what are the Glazers actually getting out of owning the club? I'd love to know why they bothered buying the club in the first place as they must realise by now that our "profits" will only continue being high as long as the team are doing well in the league and Europe and in order to maintain that they will need to add new players every season (bought from profits) and continue paying sky high wages. What with the debt etc surely they are making no money from owning the club ? I'm confused.

We are a big fat cash cow and everybody knows it! Just look how much they've squeezed out of their 'customers' over the last 3 seasons.

Just because the P & L says we have a loss of 58 million does not mean we are not making money.

gaffs · 6th May 2008, 15:47

Quote:

Originally Posted by Nialler

If the clubs finances are as gloomy as they are being painted what are the Glazers actually getting out of owning the club? I'd love to know why they bothered buying the club in the first place as they must realise by now that our "profits" will only continue being high as long as the team are doing well in the league and Europe and in order to maintain that they will need to add new players every season (bought from profits) and continue paying sky high wages. What with the debt etc surely they are making no money from owning the club ? I'm confused.

Perhaps they are hoping to break away from the Premierships collective selling of TV rights. Real Madrid recently signed up to a huge TV deal which was about £130 mil per year.

peterstorey · 6th May 2008, 15:47

Quote:

Originally Posted by theimperialinn

We are a big fat cash cow and everybody knows it! Just look how much they've squeezed out of their 'customers' over the last 3 seasons.

Just because the P & L says we have a loss of 58 million does not mean we are not making money.

This reminds me of the "When is a loss a win" thread. How did you "make money" last year - please explain?

ralphie88 · 6th May 2008, 16:24

Quote:

Originally Posted by theimperialinn

I think he means more in terms of the disclosures required.

Plc's have to be more forward with information while Ltd's only have to comply with the minimium requirements of the companies act.

Those minimum requirements are more onerous than you suggest. We know an awful lot about Red Football's financial year, hence the glazers tried to sneak the figures out the moment the final whistle blew against Barca.

gaffs · 6th May 2008, 16:38

Quote:

Originally Posted by ralphie88

Those minimum requirements are more onerous than you suggest. We know an awful lot about Red Football's financial year, hence the glazers tried to sneak the figures out the moment the final whistle blew against Barca.

A good day to bury bad news.

didsbury1982 · 6th May 2008, 16:42

Quote:

Originally Posted by Dresilved

It'll not happen till gets himself a steady high profile girlfriend, Victoria was as important to Beckhams rise than anything else, Ronni definitely has sex appeal, but beckham had more and had more charisma too.... Ronni's still a bit arrogant, Beckham was a lot more modest and made for a better role model, ronni needs to be a more complete package before that happens.....

Oh dear.

theimperialinn · 6th May 2008, 20:40

Quote:

Originally Posted by ralphie88

Those minimum requirements are more onerous than you suggest. We know an awful lot about Red Football's financial year, hence the glazers tried to sneak the figures out the moment the final whistle blew against Barca.

you dont get a say on when you file the accounts.

The only time you get any leeway is when foreign subsidiaries are involved and as far as I can tell we haven't got any

theimperialinn · 6th May 2008, 20:54

Quote:

Originally Posted by peterstorey

This reminds me of the "When is a loss a win" thread. How did you "make money" last year - please explain?

In terms of opertaing profit we increased the result from a loss of 37 mil to a profit of 7 mil, an increase of 44 mil.

Group turnover has increased from 173 mil to 210 mil, an increase of 37 mil.

Group interest payable is 81 mil this season, down 32 mil on last seasons 113 mil.

We are making a loss but at least it's progress.

At the end of the day unless your sat in the Glazers audit meeting you dont know what exactly is in these figures.

I work for a Ltd company thats a lot bigger than Red Football and you would be amazed at some of the things we can put through the books.

peterstorey · 6th May 2008, 21:31

Quote:

Originally Posted by theimperialinn

We are making a loss but at least it's progress.

At the end of the day unless your sat in the Glazers audit meeting you dont know what exactly is in these figures.

I work for a Ltd company thats a lot bigger than Red Football and you would be amazed at some of the things we can put through the books.

Good, I told you you didn't need a degree in accountancy to work that one out. I bet the progress is nowhere near the business plan which would have lost the PIKS and swapped out the punitive 14% interest rate a while back. I doubt I'd be amazed at the dirty laundry that can be hidden in the books but that's usually downside that's being covered up not upside being masked.

AcquireMe · 6th May 2008, 22:11

Quote:

Originally Posted by Plechazunga

They could make back the shortfall just by selling off a big star, so I think there would be footballing effect.

When Ronnie decides to make his move, it's going to be a black day for the football club but a good one for the owners of the Man United 'franchise'.

Got to disagree on that one, selling off our best players will only hurt the club and will give us bad results. So I am pretty sure that selling players is not a backup plan.

And I think the article has got something wrong, since the Glazers are very good business men, I doubt they would be so far out financial.

I am sure that the Glazer got everything under control..but im not so sure if I think its a good thing.

AcquireMe · 6th May 2008, 22:21

Quote:

Originally Posted by theimperialinn

In terms of opertaing profit we increased the result from a loss of 37 mil to a profit of 7 mil, an increase of 44 mil.

Group turnover has increased from 173 mil to 210 mil, an increase of 37 mil.

Group interest payable is 81 mil this season, down 32 mil on last seasons 113 mil.

We are making a loss but at least it's progress.

At the end of the day unless your sat in the Glazers audit meeting you dont know what exactly is in these figures.

I work for a Ltd company thats a lot bigger than Red Football and you would be amazed at some of the things we can put through the books.

Im glad someone talks some sense in here.

ThatOldRedMagic · 7th May 2008, 12:01

Quote:

Originally Posted by peterstorey

What before Glazer took over?

Yes

(see thread 'Man Utd face mounting debts' - also current (one of the regular threads I was alluding to)

6th May 2008, 14:37	#41 (permalink)
davisjw Reserve Team Player Join Date: Apr 2007 Posts: 1,229	I think it's fair and safe to say that the Glazers and United are keeping hush about our finances and what you read in the press and from supposed accountants on the web is guess work at best. See as they've run a sports team for years and are very very good businessmen, I'd presume the family is not going to take on a debt they can't get out of. The said article really shows no pure evidence. As they offered a nice sum of money last season and so far as we know this summer there are ample funds plus the TV deal and record "profits" for this season it's safe to say what's going on behind closed doors at United is nothing we should worry about. I think Ronaldo is far far behind Beckham in terms of world status in the celebrity world and thank the stars for that. Beckham is known every where and has ads every where, Ronaldo at the moment has stayed away from the mass celebrity/ endorser route that lead to Beckham's departure.

6th May 2008, 15:14	#45 (permalink)
Tibs Reserve Team Player Join Date: Aug 2007 Posts: 1,792	We could do with winning the EuroMillions when its on a super rollover

6th May 2008, 15:26	#47 (permalink)
Nialler Alex's Dad Join Date: Aug 2003 Location: Nyler Posts: 8,786	If the clubs finances are as gloomy as they are being painted what are the Glazers actually getting out of owning the club? I'd love to know why they bothered buying the club in the first place as they must realise by now that our "profits" will only continue being high as long as the team are doing well in the league and Europe and in order to maintain that they will need to add new players every season (bought from profits) and continue paying sky high wages. What with the debt etc surely they are making no money from owning the club ? I'm confused.