ClaytonBlackmoorLeftPeg
Full Member
- Joined
- May 22, 2017
- Messages
- 13,122
I agree. A leveraged buyout and then refinancing is perfectly normal.Nothing extraordinary iirc. As an owner of a once 1 bn worth of asset which now stands at 4bn they off course took some form of dividents, profit or whatever they call it. But nothing extraordinary big.
A 700m debt now stands at 400m means they used 300m over the course of 10 years. Hardly anything extraordinary. 30m dividents per year.
They made united as a collateral for a loan. But people making it as if they sold parts of united for 700m.
A lot of people don’t understand the concept of debt. Using your figures they had a debt to asset ratio of 70% when they purchased the club and now this is 10% - that’s incredible business.
You don’t expect people to go any buy their house with cash, they use a mortgage - the Glazers did the same (as a simplified analogy).
Anyone who takes on a £1bn business and grows them to a £4bn business deserves to be paid. Sorry we don’t live in a world of fairytails where our owners love the club and do everything for free. That ship sailed a long time ago for Football.
We sold our soul when we listed on the Stock Market, and before that Martin Edwards was trying to sell the club to anyone that had a few pennies.