£325,000,000

DubaiReds

Full Member
Joined
Mar 2, 2001
Messages
639
Location
Back home
Just reading The Times apparently since the Glazer takeover in 2005 we have paid to the banks around £325,000,000

Just think of the players we could have bought with that or keeping ticket prices down the paper observes

It's a very sobering and worrying thought

we want our club back.........somehow
 

RedNome

Cnut Rating: 9 (Conservative)
Joined
Apr 27, 2006
Messages
16,078
I was wondering when we would get round to talking about this.
 

esmufc07

Won the Grand National Sweepstake once
Scout
Joined
Aug 7, 2007
Messages
35,308
It's an insane amount of money. And that's just all fecking interest, not a penny being paid off on the actual debt.
 

Crerand Legend

New Member
Newbie
Joined
Sep 15, 2008
Messages
7,821
Just reading The Times apparently since the Glazer takeover in 2005 we have paid to the banks around £325,000,000

Just think of the players we could have bought with that or keeping ticket prices down the paper observes

It's a very sobering and worrying thought

we want our club back.........somehow
I am no Glazier fan but that figure does not sound right, perhaps some of caf accountants can clarify
 

DubaiReds

Full Member
Joined
Mar 2, 2001
Messages
639
Location
Back home
As I said I'm quoting from a Times article and if the amount is right then it's very disturbing
 

rednev

There is non worthy of worship except God
Joined
Jul 7, 2006
Messages
24,306
The club was bought with borrowed money, so I don't think you can say 'think of the players we could have bought with that'. If the club wasn't bought on borrowed money, then the owners would need to be taking more money out of the club to make a profit. Although that's not to say the interest payments are not an infuriating waste of money.
 

Crerand Legend

New Member
Newbie
Joined
Sep 15, 2008
Messages
7,821
Well i be blowed an article about our finances and the Glazers.....a collecters item....
They are literally everywhere, the press can wait to bring us down it is like Christmas has returned, Rooneys leaving, SAF is going to leave, Carrington and Old Trafford sold, Leeds Mk 2. Now things with our least favourite Americans isnt rosy but I am pretty sure that we will survive, thankfully the debt is still nowhere near what the club is worth. The press are as bad as the Glaziers
 

soulblight3r

Full Member
Joined
Aug 20, 2003
Messages
2,690
Location
Hazeville
Just reading The Times apparently since the Glazer takeover in 2005 we have paid to the banks around £325,000,000

Just think of the players we could have bought with that or keeping ticket prices down the paper observes

It's a very sobering and worrying thought

we want our club back.........somehow
You know, we're all waiting for you to buy the club. Stop sitting on your arse..
 

dev1l

Full Member
Joined
Jun 8, 2006
Messages
7,571
tbf even when we were a plc, lot of money used to end up as divident, though i do not think the amount was anything like this
 

Sunny Jim

Full Member
Joined
May 8, 2007
Messages
26,765
Location
Warsaw...that's too far away from Edinburgh...
hmm if you take a loan and there 14% interests (PIK) on it and sum is massive its kinda no surprise the overall sum will be even bigger. but feck me....that's staggering.


any comment form the club. seriously there have to be some reaction!!
 

::sonny::

Full Member
Joined
Jun 13, 2007
Messages
12,723
Location
Milan
The Glazers are like a terminal cancer, need to get rid of them, or they will bring us to a slow death

There's only one way, and it's to boycott the club, when they will see attendance=0, merchandising=0, maybe they will sell the club

Otherwise, they will continue to speculate until to the bankrupt

After the bankrupt they will say "thanks and goodbye" and they will fly away with a helicopter in the middle of the night
 

Sunny Jim

Full Member
Joined
May 8, 2007
Messages
26,765
Location
Warsaw...that's too far away from Edinburgh...
I often wonder how people with out enough money of their own, were allowed to make a hostile take over. By getting loans with against assets they never even owned in the place. Capitalism is a strange animal.
see that staggers me as well. its like i could buy that club.

but this ownership structrure begs a question- who really owns the club- The galzers or the banks?
 

RedThaiDevils#7

Full Member
Joined
Mar 30, 2004
Messages
5,825
Location
Married with Manchester United, In love with Giggs
No club in the world pays 65m pounds per year in just interest. That's just my 2 cents though.

Unless the glazer's were just cheap stakes and borrowed the initial investment say 800m pounds and they have to pay 7.5% interest to the bank a year then it could be true.

Anyhow, if they are paying anything more than 30m pounds up just for interests to the bank then we should shoot them. We weren't in this much debt before they took over, now look at us. What is the point of them buying us if they do not make the club a better club.
 

Great Hat

New Member
Newbie
Joined
Jun 16, 2009
Messages
2,251
Location
Take yourself to that football ground
It's an insane amount of money. And that's just all fecking interest, not a penny being paid off on the actual debt.
Yes. And despite unforseen revenue which has also come into the club since the Takeover, as well as the TV and Competition money from winning or reaching the latter stages of nearly every competition, we're still struggling to pay off the interest.

£325,000,000 is an insane amount. It makes you wonder where it'll all end, and how much ticket prices will have to go up, and who will have to be sold, before the attendances do drop sharply (which I think will happen in the next year or two).

The club has also made a £42m profit in the last year, according to figures, but I have a funny feeling I know where it's going...
 

Gambit

Desperately wants to be a Muppet
Joined
Sep 30, 2004
Messages
29,627
From the glazers viewpoint $529,642,837.06