1 billion is debt repayment?
Hundreds of millions in dividents. 20m divident for a 4bn asset is outrageous?
Original debt 700m. Outstanding debt 400m. 1 billion in debt repayment. Where's the 700m goes?
1. Yes. Over a billion. Look it up. In 2009, after the first restructuring, we still paid 118 Mn GBP in financing costs. This was on revenues of just 278 Mn GBP.
2. Over the period 2009-2013, our financing costs (interest, principal and dividends) were a whopping 403 Min GBP. That’s just for 5 years - and after we’d refinanced. That first 2008 refinancing reduced interest from 16.25% to 8.75%. Even the latter is exceptionally high. Even high-risk businesses in high-interest countries like India wouldn’t pay that kind of rate
3. Our debt repayments alone for the last 10 years (therefore excluding the years of ultra-high payments) is 750 Mn GBP.
4. Yes, a dividend (not divident)of 22 Mn is very very high if you’re not making profits!!! Even 200k is high if you’re making a loss! What’s so tough to understand?
5. We’ve spent <15 Mn on the stadium in the last 5 years combined. The roof leaks. The infra is atrocious for a club of our stature. But hey, where’s the money after the dividends? And “it’s not much”, eh?
6. Net debt is 511 Mn GBP. Gross is 640 Mn. We started at 660 in 2005. Go and read the annual reports if you want to argue. They’re on the website for free. Don’t just gas about.
7. Where did the money go? Oh guess what! The Glazers actually took personal loans from United. They also drew millions as their “expenses”. And dividends of course. They banked all manner of money. The club just suffered.
Grow up. Stop denying the truth. The Glazers are leeches and are milking the club and running it into the ground. Blind backers like you only help them and ensure we’ll never recover and they’ll continue to line their pockets.