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United to pay PIK debts in full
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At least we know where the Ronaldo money is going. Fantastic. |
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Re: United to pay PIK debts in full
Whoa, this is what I predicted a few weeks back....the reason they didn't take any money out is there for everyone to see now.
This is the Ronaldo money, AOn money and more all being used to service their debts, if this is what it takes for them to leave im all for it. One final milking is better than to be sucked dry for another 5 years. This is good news. They are getting ready to sell! |
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But taking such a step, they must be thinking of £#%&!ing off. Lets hope so... |
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Re: United to pay PIK debts in full
anders
Best guess would be £95m they are "entitled to" from club and a "refinancing" (i.e. new borrowing for the rest). Tariq is normally spot on and it's results tomorrow. If they've taken the £95m it'll be ignored in the "good news" about getting rid of the rest. |
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Re: United to pay PIK debts in full
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Surely this only strengthens the Glazers position at United? Get rid of the punitive 16% interest of the PIKs and replace with bigger, but more 'manageable' debt. They're going to be here for £#%&!ing years, aren't they |
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Re: United to pay PIK debts in full
more anders
Guessing again, but if it's £95m from the club and a refinancing, the details of the latter won't be known for some time (January when the RFJV accounts come out). In the meantime "Glazers slash debt by £220m" will be the headline.... Selling at £1bn (ignoring the c. £50m in the bank) would net them £480m (or £345m if the rest of the PIK is now just different debt). Other possible source of money is the sale of a stake in the club to some middle-eastern group. Given the Glazer's own 15% of the PIKs, we can assume they are trousering £33m, whatever the source..... |
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Re: United to pay PIK debts in full
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And the overseas tv rights deal is worth an extra £10m a season for the next 3 years. Throw in a big pre-season tour, and hey presto. |
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