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