The Glazer Reign Is Crumbling

Revenue means £#%&! all - let’s see what the profit looks like even better let’s see what the cash position is

Turnover = vanity
Profit = sanity
Cash is the reality

Originally Posted by Parlabane

Revenue means £#%&! all - let’s see what the profit looks like even better let’s see what the cash position is

Turnover = vanity
Profit = sanity
Cash is the reality

Public Enemy?

Originally Posted by Parlabane

Revenue means £#%&! all - let’s see what the profit looks like even better let’s see what the cash position is

Turnover = vanity
Profit = sanity
Cash is the reality

no dividens doesnt sound promising

https://twitter.com/StretfordPaddck/status/1717501246012072028?t=GAYzYgJECBPYYfMLpxbMtA&s=19

Originally Posted by Big Norm

https://twitter.com/StretfordPaddck/...fMLpxbMtA&s=19

Don’t know how I’ll sleep,

Originally Posted by Big Norm

https://twitter.com/StretfordPaddck/...fMLpxbMtA&s=19

EBIDTA?

It's clear that the club is desperate for investment. It can't continue like it is.

No dividends for the Glazers is interesting.

https://x.com/unitedstandmufc/status/1717572966274228340?s=46&t=qEI8D0WZspK8o-N_pJcmYw

Originally Posted by Vedder

https://x.com/unitedstandmufc/status...spK8o-N_pJcmYw

Oh no. I'm sure there'll be a list of europe's top clubs vying for his services.

Originally Posted by Sparky***

Oh no. I'm sure there'll be a list of europe's top clubs vying for his services.

No chance of poor Believe getting any shut eye now.

I may be in the minority, but I think the guy’s done a decent job so far. At the very least he resisted the knee jerk reaction to hire Conte when we sacked Ole and waited for ten Hag. After the calamitous decade of Woodward, this guy was going to get tarred with that brush no matter what he did.

Harsh imo.

Originally Posted by Sheik JaBooty

I may be in the minority, but I think the guy’s done a decent job so far. At the very least he resisted the knee jerk reaction to hire Conte when we sacked Ole and waited for ten Hag. After the calamitous decade of Woodward, this guy was going to get tarred with that brush no matter what he did.

Harsh imo.

Have to agree with this. I thought he came across ok in that sting at the boozer by them 1958 tramps.

Jim the Rat : Now, I know you think you're the A-number one hotshot. But here's the juice: if I take you out, there'll be ten more lawyers to take your place tomorrow.

Surely time for a thread title change?

“The Glazers reign is getting stronger by the day”?

And new figures released have revealed the extent of the money owed.

While their gross debt remained at $650m (£507.3m), United borrowed an additional £160million on their revolving credit facility, taking their overall borrowing to £773m.

Their full set of accounts show that they owe £317.8million in outstanding transfer payments.

Having drawn out £100m from their revolving credit facility in 2022,this took the total figure owed by United to £1.09billion.

United’s revolving credit facility is thought of by some as a company credit card; when the Covid-19 pandemic struck, United gained a line of credit with Bank of America Securities to aid cash flow and this is the means by which they have paid for various transfers in the past few seasons. The signings of Casemiro and Antony, for instance, were funded using this short-term borrowing.

Stronger by the day..

Well, they’re £#%&!ed obviously since interest went up on that

The Hamas Israel conflict has made Qatar back off probably

So the scruffy one, with a free run, should surely be in the stronger position
to make the @#%&!s dance to his tune. Let’s see if he’s the guru he’s made out to be. What we waiting for Jim?

Originally Posted by dunk

Stronger by the day..

Digging into it further, there are some worrying items in the annual report.
Cash and cash equivalents down by £45m to £76m
Total equity down to just over £100m
Total liabilities now over £1.2bn

On a plus note, wage bill down by over £50m.
Other operating expenses have rocketed from £118m last year to £163m this year but the roof is still leaking.
Depreciation is a fairly constant figure.
Amortization has shot up, seemingly due to player acquisition and registrations.

As someone mentioned, the revolving credit facility has been affected by bank rates - it tracks at the appropriate back rate + plus a credit adjustment spread, plus a margin of 2.5% per annum.

The cost of keeping the undrawn funds is 40% of the interest rate payable on the drawn funds, i.e. They are already paying to have the funds available - the equivalent of your or me having a 5k limit on our credit card, having spent 3k on it and having to pay to have the other 2k stay available to us for a given period of time.

Total liabilities now over £1.2bn

Explain to a financial idiot, does that mean the club/Glazers owe that amount to lenders? Who? Banks? And given the other results you list, how do they ever expect to pay that off without selling the club? Jim’s investment?

No, the club owe that to various creditors and as it stands Jim’s money will be going straight into Glazer pockets.

Originally Posted by dunk

No, the club owe that to various creditors and as it stands Jim’s money will be going straight into Glazer pockets.

Why would he do that, seeing as billionaires aren't normally total morons?

Originally Posted by dunk

Stronger by the day..

£#%&!ing Hell.

This is why I want to gouge the eyes of every £#%&!witted two-bit pundit on telly saying how the bastards have “allowed” the club to spend money on transfers.

It’s all on the never-never you stupid, stupid, ignorant @#%&!s.