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Re: Top city financiers discuss United bid
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The PIK debt was due to be reduced by £70m of Gill's £146m cash-pile following the bond issue when the senior debt was paid off. Another £30m of the club's cash was also being used to pay off the senior debt and bank fees. That leaves £46m which the Glazers can pillage any time. The PIK debt therefore currently stands at £148m, but interest will accrue at 16.25%pa from August this year. |
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Re: Top city financiers discuss United bid
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are you hopeful that they would sell given a decent enough offer ? |
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Re: Top city financiers discuss United bid
I've no doubt Harris and O'Neill will want as big an ST strike as we can get to drive down the price as much as possible. The less they pay, the less burden on United afterwards.
If we do win 19 and/or 4 in May, I suspect Ferguson may decide to retire, lumping further pressure on the Glazers through the uncertainty of future success and hence, income. The big difference for an ownership group that engages with the fans is the amount of goodwill that can be generated. It would cost £4m to reduce general ticket prices by £2. Not a great cost, but a great gesture in the face of Glazer increases. If the owners then asked fans to buy more in the ground would the fans back that call? I'd say they probably would. A little carrot goes a long way when all you're used to is plenty of stick. |
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Re: Top city financiers discuss United bid
I thought it interesting to read that Jim O'Neill is a good friend of Fergie's. Might explain some of the recent apparent slight softening towards the protests. The key will be getting a serious direct threat to the Glazers' future income. If they eventually believe the fans are serious about hurting their future income they'll sell for a profit I reckon.
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Re: Top city financiers discuss United bid
tbph this sounds like they're playing at it
harris has clearly said previously that getting the cash together was the easy bit so it's quite straightforward really. put your money where your mouth is, make an offer to buy the club for whatever they realistically ask, deal with the bond as the T's & C's dictate with a view to either seeing it out or using it as the model for enabling fan ownership or whatever it is you propose... incidentally, a couple of points it's a very convenient position to take at this time to say that the reason the glazers didn't do all the doom as predicted was because they couldn't, but now they can, so we think they will do all the doom as predicted starting from now. bit silly really. put it like this, people mocked the idea that they might have a 'business plan', yet 5 years is but a very short time, and now those same people are saying that the glazers clearly had a 'business plan' all along. well, yes they did. i'll wager thee that their plan was to brag that they owned something much coveted, and to make money. from my own perspective - and hence why these people won't stop me going to Old Trafford - unlike many (on here and in real life) i don't discriminate between capitalist scum and their money-making schemes all that much. secondly, this idea that Ferguson might call it a day on the winning of a particular trophy or the achievement of a particular target is compelling. it's been compelling for about 10 years or so. sooner or later he will quit, but fairly obviously it will be either for health reasons, or because he feels it would be in the best interests of united. imo. |
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Re: Top city financiers discuss United bid
This summer is a huge summer for the club, due to the momentium created from the G+G movement, and the 17% increase fans now more than ever will consider giving up the ST or not attending games next season.
Those who are interesting in taking us over, must connect with those that do and dont go, if there's a way they could freeze season ticket prices or general ticket prices more fans than ever might jump on board. |
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