United to pay PIK debts in full

tariq panja
#MUFC owners agree to pay off entirety of its 200 million pound+ PIK loan. Controversial loan will be paid on Nov 22, Bloomberg learns

That's what the fella at Bloomberg is saying

At least we know where the Ronaldo money is going. Fantastic.

interesting im sure anders will tell us how, what, and why.
results are out tomorrow also

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!

so is this a good thing or is the protesting going to continue?

Originally Posted by safingtons

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!

I don't know about that. Ya see, I knew this bird once......

Originally Posted by naes_sean

so is this a good thing or is the protesting going to continue?

The protesting will fire up mate, they've basically taken the £160m that was in the bank that Gill and Fergie kept banging on about, to pay off THEIR debt, not the clubs debt.

But taking such a step, they must be thinking of £#%&!ing off. Lets hope so...

Originally Posted by safingtons

The protesting will fire up mate, they've basically taken the £160m that was in the bank that Gill and Fergie kept banging on about, to pay off THEIR debt, not the clubs debt.

But taking such a step, they must be thinking of £#%&!ing off. Lets hope so...

I don't think they are allowed to take all of that money, they are entitled to a certain amount.

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.

Originally Posted by safingtons

if this is what it takes for them to leave im all for it.

are you completely stupid?

that's a rhetorical question, by the way.

(rhetorical means "the answer is yes", by the way.)

Originally Posted by safingtons

The protesting will fire up mate, they've basically taken the £160m that was in the bank that Gill and Fergie kept banging on about, to pay off THEIR debt, not the clubs debt.

But taking such a step, they must be thinking of £#%&!ing off. Lets hope so...

Surely if they can chop the debt by a third in one go they must still see the club as profitable?

Originally Posted by safingtons

This is good news. They are getting ready to sell!

Does it definitely mean that?

I'm thick as £#%&! so this is why I'm asking.

Originally Posted by jem

are you completely stupid?

that's a rhetorical question, by the way.

(rhetorical means "the answer is yes", by the way.)

Originally Posted by jem

are you completely stupid?

that's a rhetorical question, by the way.

(rhetorical means "the answer is yes", by the way.)

yes mate

Originally Posted by Sloane

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.

From the Sanc?

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

Originally Posted by The Watcher

From the Sanc?

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

yup

Better get used to Bebe imo.

Originally Posted by The Watcher

From the Sanc?

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

Thats exactly what I was thinking, if they are at a stage of paying off the PIK's then they must have a long term plan.

The PIK's are the only debt the Glazers are responsible for the rest is on the club. £#%&!ing @#%&!s.

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.....

Originally Posted by safingtons

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!

Eh? If they can get away with this, they'll be left with £45m annual interest payment, which they'll be confident of making.

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.