2008 Accounts are out

Originally Posted by elephantstone

The Glazers are looking to sell and used the Super cup in Monaco to woo a certain Arab with Ferguson involved in the initial meetiing.

fergie "och, buy the club but make sure i still have my various family coining in off the club too, ps: the glazers have been excellent, jimmy"

arab "what?"

It is worth noting the accounts this year actually confirm all the debt must be repaid by 2017.

So that's just eight years to find almost a billion quid.

If the wholesale money markets don't reopen in the next few years, we must be looking at a sale or a flotation.

Unless the Glazers find some of their own money to put in?

Originally Posted by waynes ear's

and will be flattened to make a car park

11.6 mill for a car park seems nuts! I knew they'd purchased it but i didn't realize for just how much them buildings only look fit for demolition!

Originally Posted by Girlfriend

11.6 mill for a car park seems nuts! I knew they'd purchased it but i didn't realize for just how much them buildings only look fit for demolition!

Jesus wept

Originally Posted by Ether

Jesus wept

What now?

and they were allowed to borrow another 8m to secure it

just shows you the corrupt world these type of @#%&!s operate in imo

£11m purchase yields £1m a year in rent.

Isn't that a 9% annual yield?

Is it naive to think that there really is nothing to worry about regarding our long term future?

United are the worlds most sought after club and, when the Glazers just can't service the debt anymore, there will be a queue of mega wealthy people itching to buy the club.

Maybe the worse it gets now, the quicker the Glazers will be out? A bit simplistic and idealistic maybe.Probably really £#%&!witted too tbh.

Originally Posted by magic_cantona

Is it naive to think that there really is nothing to worry about regarding our long term future?

United are the worlds most sought after club and, when the Glazers just can't service the debt anymore, there will be a queue of mega wealthy people itching to buy the club.

Maybe the worse it gets now, the quicker the Glazers will be out? A bit simplistic and idealistic maybe.Probably really £#%&!witted too tbh.

Is it worth it though? To put it simply

Say you pay a billion, and take out a dividend of £80m, that's 8% profit. Is it worth that kind of stake for such "small" returns?

Originally Posted by magic_cantona

Is it naive to think that there really is nothing to worry about regarding our long term future?

United are the worlds most sought after club and, when the Glazers just can't service the debt anymore, there will be a queue of mega wealthy people itching to buy the club.

Maybe the worse it gets now, the quicker the Glazers will be out? A bit simplistic and idealistic maybe.Probably really £#%&!witted too tbh.

I think the problem here is one of perspective. Many people see some kind of apocalypse where the world comes to an end one day. It probably won't look like that. I'm pretty sure paying the interest, on time, according to the terms of the deals, will never be a problem. In fact the next lot of accounts will show a fairly large reduction in the interest paid because interest rates have fallen so sharply.

What will happen is in June 2013, United will get a letter from JP Morgan which says "in accordance with the terms of your agreement, please let us have your cheque in the sum of £75m in repayment of Loan A." Paying that might be easy, it may be hard. I guess it will depend on what happens in the couple of year leading up to that.

Will the temptation be to sell, or not to buy, to finance the repayment that year?

The following year another letter will arrive and this time it will be asking for £150m for Loan B. Then the following year another bill for £150m will arrive for Loan C and so on.

We won't know what plans are being made for this period between 2013 and 2017 until there is an announcement of a refinance, or a sale to another party. However we do know this money is due and we know when it's due.

we also know that accounts are just the numbers you want to and have to show the tax man

and we know that the entire banking industry, finance industry and the legal system that governs them is in the hands of corrupt scum of the earth @#%&!s, and that there are plenty more where the current lot came from

Originally Posted by Tumescent Throb

the positives are that the Glazers presumably know their way around the corrupt world of finance and banking and so are likely to be able to keep rolling like this for as long as it takes

utter %@#$&!s.

Originally Posted by dunk

There must be a plan, a bigger picture that we haven't been shown.

utter %@#$&!s.

Originally Posted by Withers

Any accountants out there who can reassure us we are worrying about nothing?

why on earth would you ask a £#%&!ing accountant?

Originally Posted by redloner

Unless the Glazers find some of their own money to put in?

:ha, ha, ha.....bonk:

Originally Posted by redloner

Many people see some kind of apocalypse where the world comes to an end one day.

death by a thousands cuts is my favourite.

Originally Posted by Tumescent Throb

and we know that the entire banking industry, finance industry and the legal system that governs them is in the hands of corrupt scum of the earth @#%&!s, and that there are plenty more where the current lot came from

they haven't all been nationalised, you know.



on the plus side, my mortgage payment next month is £150. :0)

yeah whatever

they have stumbled honestly to their fortune

and the world they operate in is entirely honourable


sssssyeah okay

Originally Posted by Tumescent Throb

yeah whatever

they have stumbled honestly to their fortune

and the world they operate in is entirely honourable


sssssyeah okay

eh? the glazers are scum.

bankers are kinda cute and cool, though.

Originally Posted by jem

eh? the glazers are scum.

bankers are kinda cute and cool, though.

April 10, 2009

Fergie on Glazers: Their support has never changed

On new figures: I do not know what these figures tell you. There has always been debt since Malcolm Glazer took over the club. Most buyouts are like that. But there is no change as far as I am concerned.