United's Finances

Last year United made £82M profit before tax, the tax they pay is minimal and after the interest payments the profits are £22M this year.

Next years budget is for profit before tax of £91M with anticipated interest payments of £20M as they expect to restructure the finance. The reason this hasn't been done yet is due to the markets (they used Boots the pharmacy store as an example - whatever that means).

Bottom line, the company is much more profitable than we had anticipated and the interest payments are manageable. "No chance of us going bust then?" I asked "Far from it" was the reply.

Automatic cup scheme wasn't necessary for the survival of the club, they just saw the opportunity and they will "never need to sell any player they don't want to sell".


Most on here know what I do for a living and can probably guess where this information came from. I'm no Glazer stooge, you know that. Trust me, this is genuine.

MOTWYW.

Automatic cup scheme wasn't necessary for the survival of the club, they just saw the opportunity

Surely even more of a @#%&!'s trick if that is the case?

Are they paying off any of the debt? Is it increasing or is it stable? Is all of the interest of the debts being payed or just a percentage?

Originally Posted by utd82

Surely even more of a @#%&!'s trick if that is the case?

Big business is a @#%&!s game. I'm no longer a ST holder because of this scheme but there you go. They don't want your support, just your spondoolicks thank you very much

Add this to the fact that ST's have gone up nearly 20% in 2 years and the fact we have hardly spent a penny in this period it's £#%&!ing brilliant. I wish i'd stayed now.

Apparently then can write off a third of the debt under US law (£#%&! knows how that works). I asked, surely they still need to pay it back? "No" they borrowed £600M and now it's £400M. How the £#%&! that happened I don't know, something to do with US law regarding borrowing to buy businesses I assume.

We're making so much more money due to getting to the semi final of the EC, winning the Premiership and getting to the final of the FA Cup + the new TV money.

Basically we were undervalued after all it would seem.

Originally Posted by Spiffy

Last year United made £82M profit before tax, the tax they pay is minimal and after the interest payments the profits are £22M this year.

Next years budget is for profit before tax of £91M with anticipated interest payments of £20M as they expect to restructure the finance. The reason this hasn't been done yet is due to the markets (they used Boots the pharmacy store as an example - whatever that means).

Bottom line, the company is much more profitable than we had anticipated and the interest payments are manageable. "No chance of us going bust then?" I asked "Far from it" was the reply.

Automatic cup scheme wasn't necessary for the survival of the club, they just saw the opportunity and they will "never need to sell any player they don't want to sell".


Most on here know what I do for a living and can probably guess where this information came from. I'm no Glazer stooge, you know that. Trust me, this is genuine.

MOTWYW.

what do you do for a living btw?

Originally Posted by Spiffy

Apparently then can write off a third of the debt under US law (£#%&! knows how that works). I asked, surely they still need to pay it back? "No" they borrowed £600M and now it's £400M. How the £#%&! that happened I don't know, something to do with US law regarding borrowing to buy businesses I assume.

We're making so much more money due to getting to the semi final of the EC, winning the Premiership and getting to the final of the FA Cup + the new TV money.

Basically we were undervalued after all it would seem.

so we only owe £400m?

Originally Posted by Spiffy

Apparently then can write off a third of the debt under US law (£#%&! knows how that works). I asked, surely they still need to pay it back? "No" they borrowed £600M and now it's £400M. How the £#%&! that happened I don't know, something to do with US law regarding borrowing to buy businesses I assume.

We're making so much more money due to getting to the semi final of the EC, winning the Premiership and getting to the final of the FA Cup + the new TV money.

Basically we were undervalued after all it would seem.

Sniffer, good thread, I have to say your first post on here has changed my opinion of you, don't ask why, it's a real road to damacus moment.

Could you possibly provide a link for that or maybe suggest somewhere that would provide that info ?

Originally Posted by 24hr Leavesey

Sniffer, good thread, I have to say your first post on here has changed my opinion of you, don't ask why, it's a real road to damacus moment.

Could you possibly provide a link for that or maybe suggest somewhere that would provide that info ?

its obviously confidential like his mate is part of the team that probably produces uniteds final accounts etc.

Originally Posted by 24hr Leavesey

Sniffer, good thread, I have to say your first post on here has changed my opinion of you, don't ask why, it's a real road to damacus moment.

Could you possibly provide a link for that or maybe suggest somewhere that would provide that info ?

Links only come when it's in the public domain. As for an answer to Violater's question, I recruit Accountant's. I've just interviewed the Financial Accountant who left United on Friday. This is as good as the horses mouth as you are going to get. No link, read my previous posts and you'll see I have no hidden agenda. I still hope the Glazer's die for taking the risk with our club, splitting the fan base and causing so much uncertainty.

Originally Posted by Spiffy

Links only come when it's in the public domain. As for an answer to Violater's question, I recruit Accountant's. I've just interviewed the Financial Accountant who left United on Friday. This is as good as the horses mouth as you are going to get. No link, read my previous posts and you'll see I have no hidden agenda. I still hope the Glazer's die for taking the risk with our club, splitting the fan base and causing so much uncertainty.

Very, very interesting.

Excellent news. I'm not sure it is as simple as made out but then few things are in this world.
Still won't be giving them a penny though.

Originally Posted by Spiffy

Links only come when it's in the public domain. As for an answer to Violater's question, I recruit Accountant's. I've just interviewed the Financial Accountant who left United on Friday. This is as good as the horses mouth as you are going to get. No link, read my previous posts and you'll see I have no hidden agenda. I still hope the Glazer's die for taking the risk with our club, splitting the fan base and causing so much uncertainty.

there's a huge difference between being a recruitment consultant and being an accountant

They are poles apart

I dont believe a word you say - the terminology you use is all wrong

Financial Accountant???? What's that all about?

Surely the phrase is Finance Director or FD?

All UK companies pay corporation tax on their profits - fact

I smell bullshit

Is the impending collapse of the credit sector in the US not going to affect the situation in the meantime?
I thought the idea was to make it more difficult for @#%&!s like the Glazers to borrow on stuff they don't have through the hedge funds etc which may affect the restructure with much higher rates to pay back.
not that i claim to have any idea of how credit works, except the blacklisting.

Originally Posted by MethodMan

there's a huge difference between being a recruitment consultant and being an accountant

They are poles apart

I dont believe a word you say - the terminology you use is all wrong

Financial Accountant???? What's that all about?

Surely the phrase is Finance Director or FD?

All UK companies pay corporation tax on their profits - fact

I smell bullshit

And the thread is ruined.

Originally Posted by Spiffy

Apparently then can write off a third of the debt under US law (£#%&! knows how that works). I asked, surely they still need to pay it back? "No" they borrowed £600M and now it's £400M. How the £#%&! that happened I don't know, something to do with US law regarding borrowing to buy businesses I assume.

We're making so much more money due to getting to the semi final of the EC, winning the Premiership and getting to the final of the FA Cup + the new TV money.

Basically we were undervalued after all it would seem.

Utter garbage.

Originally Posted by Spiffy

Links only come when it's in the public domain. As for an answer to Violater's question, I recruit Accountant's. I've just interviewed the Financial Accountant who left United on Friday. This is as good as the horses mouth as you are going to get. No link, read my previous posts and you'll see I have no hidden agenda. I still hope the Glazer's die for taking the risk with our club, splitting the fan base and causing so much uncertainty.

cheers.

any idea why he left united in the first place?
did he work for united as an internal auditor as i assumed united would use one of the big 4 to produce their accounts/audit. most big companys use the big 4 to produce their accounts...?

Originally Posted by Charlestown Rouge

Utter garbage.

well said

Banker : "you want us to write off $200m? Sure no problem"

I dont think so

Originally Posted by MethodMan

well said

Banker : "you want us to write off $200m? Sure no problem"

I dont think so

That's a matter of opinion and I couldn't give a £#%&! about yours to be frank.