So basically we've got debts of in billion quid. And it's all pretty shite?
Club Sale | It’s done!
- Thread starter JB08
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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
A crappy house of cards.
So we have only £24M left to spend in January and the summer? If we spend that money does that mean we are bankrupt?
We seem to be missing the people that like piping up with the Glazers not being the worst possible owners.
We've been Mike Ashley'd and it's been happening for years.
We've been Mike Ashley'd and it's been happening for years.
I.O.Us?
24m is the cash balance, not the transfer budget
and no we won’t be bankrupt just in more debt
Brilliant more debt onto the club by the leeches can't wait till they are gone.
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.
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 also worth mentioning that September isn't a particularly good indicator of cash flow since clubs get many of their incomes during the course of the 12 months period whether we are talking about prize money, broadcasting, transfer revenues, gate and many others.
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
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
The money dried up under Mourinho and Ole because we did two things at the same time spend a lot on transfer fees and also increase significantly the wage bill. Clubs rarely do both of these things at the same time, now United still have more money than most, we simply don't have as much unallocated revenue as we used to. Also not qualifying every year for the CL represents hundreds of millions lost.
So in the end it wasn't the protests that forced them to sell, it was them running the club (and more specifically its finances) to the ground and realising there was no longer a chance of super league salvation to keep their rat infested gravy train chugging along.
The sooner we sell and are rid of these parasites the better. Absolutely criminal what they've done to this club. And dare I say it, but a little shame on Sir Alex for singing their praises at the time (yes I get his hands were tied but he didn't need to have been so positive towards them, nor mock those who opted to support FCUM).
The sooner we sell and are rid of these parasites the better. Absolutely criminal what they've done to this club. And dare I say it, but a little shame on Sir Alex for singing their praises at the time (yes I get his hands were tied but he didn't need to have been so positive towards them, nor mock those who opted to support FCUM).
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.
When reports of £20m bughet came up last summer, I was ridiculed for saying they were believable. Our finances are in poor shape, repatively.
But they weren't...
So how much has our debt increased to?
1.1 billion.
Erm ....... ?
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.
So you think you were right, even though we spent 10 times the amount?
It is sickening thinking of how we could have fared if we spent like we have this last 10 years in Fergie's last 5 years. The "No value in the market" period.
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.
I'm not a financial expert so...how has our debt risen to a billion?
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?
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.
This is one of the single funniest posts I’ve read in ages
Okay, is it possible that the strength of the dollar shas been a reason why it's gone up?
Borrowings, likely meant to finance short/mid term installments(largely players registration purchases). IIRC the club is also in the process of infrastructure investments.
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.
So basically, they have to sell? Looks like the ESL non show has forced their hands.
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.
And I agree, that his magic turned things around for the money men , which meant the managers who came after him would have a lot of money to spend. Sadly that money was spent badly by all the managers from Moyes to Solskjaer.
The weakening of the Sterling has almost certainly played a part, yes.
No. Frankly there is nothing to conclude from this. It's an end of september report, the vast majority of the club's revenue and payments aren't done or close to be done. It's the end of june report that is interesting.
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.
1b in debt will definitely effect the price the Glazers want that's for sure.
Well I guess it does make us more affordable and therefore more buyers but those who would still be able to buy even at 6 or even 8bn will still obviously be able to buy at say 4bn so while it would lower the bar it wouldn't rule our quality buyers at same time.
Overall a lower sale price means purchasers would have more funds to invest in the club..... hopefully at least.
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.
It was mentioned in here before that leveraged buy outs of PL clubs have been outlawed. Does this extend to purchasers having to clear existing debt? This is relevant as majority of our debt was used to complete the buy out.
The new rule would seem a bit pointless if there was no requirement to clear existing debt as leaving existing debt in place is not much different to a leveraged but out?
The new rule would seem a bit pointless if there was no requirement to clear existing debt as leaving existing debt in place is not much different to a leveraged but out?
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.
If they value that into the sale then sure - but I don't see how anybody is going to give them 6 billion and clear another 1 on top.
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