You don’t believe it will happen, which is fine, but begs the question the poster asks. Are the GMCA in on this?
Club ownership | Senior management team talk
- Thread starter golden_blunder
- Start date
-
Hello, Guest! We have a new competition (with tagline and award as prizes) starting.
A new Last Man Standing competition is starting now. Click here to enter to submit your predictions. Submissions will be open for the next 4 days, 16 hours, 37 minutes, 16 seconds, and will close on Aug 21, 2026 at 20:00.
It might not happen yet, but it seems weird to do so much work when they could have just slapped a coat of paint on OT and called it done.
Agree, the revenue won't start to come in until it's built. But at the same time, they don't need to take the full 2bil with interest accumulating, on the day they break ground.
It is happening, even if it means the club being loaded with more debt.
Oh, you think The Glazers and INEOS will abandon plans because they wish to prioritize on field competitiveness?
The Glazers will be fine with an another ten years like the last. Uncompetitive in the league. Qualification for Europe most seasons.
No but you have to start spending significant sums of money which the club doesn’t have without any return. It won’t happen with these owners and the current shareholdings it they are, something will have to change.
In your opinion
No I think it’s quite are even from the clubs updates that this does not happen with SJR and the Glazers maintaining their current shareholding.
It’s just a public consultation and it depends on a stadium that has no planning permission, costing or funding.
Maybe the stadium does get built and all thie surrounding area developed but not with SJR and the Glazers keeping all their shares. They can’t borrow 2-3 billion.
So not based on anything then, just your personal vibes. Ok.
So it may well happen then
Not with these owners as they are which is the whole point.
Throw in a few more caveats and you may be right
There’s no money or plans so more than vibes, lots of people buying I got the Glazer/SJR vibes though which is odd.
It’s not a caveat that’s the whole point of what I was saying it’s even the clubs update that funds have to come from multiple sources. The stadium doesn’t get built without the ownership or shareholding changing.
Ole’s behind it
So you were saying nothing new or interesting then.
The Caf drives me mad these days. So much doom and gloom.
The negativity about literally everything is incessant.
Perhaps I need some time out.
The negativity about literally everything is incessant.
Perhaps I need some time out.
No you just didn’t read what I posted so you added nothing unfortunately. Also posting that then posting a generic whine about negativity is pretty pointless and predictable.
Thanks for another pearl of wisdom.
The stadium won’t happen unless circumstances occur which mean it will.
Fascinating insight. Feck me.
From a financial perspective, give us one good reason why the ownership structure has to change for the stadium project go ahead?
Most people here are pretty good with numbers so feel free to show your homework.
Or just read he post in the first place and then don’t whine. Being doom whilst comparing about it is just pathetic.
Right. Well if you're reduced to cheap insults, I'll just assume you have nothing more to offer.
You must be good with numbers if you’ve already worked out what no one else has. It’s pretty simple the club aren’t borrowing 2-2.5 billion on top of all this existing debt they can’t pay off.Just repeating your own point, don’t make cheap insults(even calling it an insult is a bit silly really) if can’t take it back. Why are people so sensitive about this issue, it’s bizarre.
Wondering if they decided to sell the club for 5B, the new owners should pay 5B to (Glazers+Ineos) and inherit 1.2 B current debt too means the actual cost for new owners would be 6.2B, isn't it? OR Glazers are willing to pay off the current debt of 1.2B from their share of 5B sale.
Who says they can't pay off the debt?
They choose not to do so, but that doesn't mean they couldn't if they wanted to
All the talk was the new owners would have take on the debt and pay it on top of buying the club. The Glazers greed knows no bounds
You come on here to tell everyone the new stadium is a “pipe dream” and can’t happen without *insert caveat here*.
You’re source: Trust me bro!
That’s why you’re being laughed at!
5B sale price, 3B (to clear the debt +building a new stadium), question is any one will pay 8 billions?
Didn’t like the emoji did you, knew that would get you. When someone posts a laughing emoji you always post one back and you get them every time. It’s interesting you trust SJR and the Glazers and would love to see those numbers you are so good with.
The caveat was there right from the start so just read the post initially the first place.
How dare someone come on a forum and not tell you want to want to here, great stuff.
Might still be a change of control clause where the debt from the initial purchase has to be paid straight away if Glazer ownership drops below 50%. They have had them in the past I think but may be different now they have re-financed with SJR on board.
That's not happening. It is not their debt. Of the 1.2b debt, about 500m is legacy debt or residual debt from their takeover. The rest is debt the club has accumulated along the way. All the debt is on the club regardless.
If a new owner bought out all current shareholders for 5b, the debt would remain with the club. Some of the debt (bank loan, new bond, and perhaps the RCF) has change in ownership clauses that might kick in, or at least a discussion between the debt holders and the new owners would occur. New owners could arrange for the debt to remain if required.
No they won't, and that's the problem
The debt belongs to the club not to the owners, so if someone bought the club (ie the shares of Ineos and the Glazers) they would/could leave the debt on the club. So it wouldn't cost them more unless they chose to pay it off.
The Glazers could stipulate that someone coming in had to clear some of the debt. Or indeed they could pay it off out of their own money before they left. I would say the chances of that are slightly less than the chances of Pep and Klopp becoming joint managers of the club.
So when are the management planning to make the signings? During the actual league season?!
Yes, probably. I imagine they'll be hoping that a few bargains might shake loose in the final couple of weeks of the window. Probably want a central midfielder, left back and a backup striker at a minimum.
Cash is still the issue. We have over the last 5 to 6 years spent more each year than we generate on players and interest. The trend has continued under Ineos though 2026 might be different (due to record player sales numbers). 2024/2025 had a record net spend of 230m. Each year the deficit is filled by the credit card or (laterly) by the JR equity investment.
We have about 200+m of transfer payments due in the next year and this is before the recent acquisitions.
I reckon that some of the levers being pulled, like increasing the limit on the RCF, reflects the current reality rather than moves being made in anticipation of big additional spending. We sold some of our own transfer debt earlier this year for about 40m. An unusual move that signals a cash shortage at the time.
We did some refinancing in June and borrowed an additional 95m, which becomes available to the club. You could argue that we can spend more as a result, I suppose.
PSR is dead and SCR is less onerous for the club. Net finance costs, a principal driver for our annual losses, is not part of the calc. Based on 2026 projected figures for revenues and costs, SCR is running less than 85% (closer to 70%).
It is one of the most evil plots in football history, and a clear example of how the laws of capitalism if not regulted and checked is against all holy and sacred among mankind.
We've spent circa 500m on transfers since INEOS took over the running of football operations in the summer of 2024 and still have a month left of this window to spend more. All this while trying to get out of DEEP financial trouble caused in large part by spending insane transfer fees on average players and putting them on absurd wages. For a decade. Some of the posts on this thread would be hilarious if they weren't so deeply divorced from reality. A large section of our fanbase seems to live in an alternate universe where the last decade never happened and money is just a concept that can be ignore when you want to. It's deeply embarrassing tbh.