Glazers and debt

Iceberg? What iceberg?

http://www.timesonline.co.uk/tol/spo...cle6945421.ece

The Times understands that the Americans have been trying unsuccessfully to secure a refinancing package for part of the club’s £699 million debt for months, having failed in 2007 and last year, because of the bleak global economic climate.

In fairness to Mr Ed, this warrants a new thread. Something this serious shouldn't sit on the Ljajic thread.

Glazers are @#%&!s. HTH.

No, everything's fine. We're after David Villa.

are there no seriously wealthy peeps out there looking at us as a nice expensive plaything?

That's filled with new information isn't it.

It's inevitable Mr Anderson

I do find it odd that they can't get a loan. A long-established business, market leading and sucessful, turnover of £250m+ that consistantly rises, as does the trading profit of around £80m. With interest rates so low, a return of 7% or 8% would be a good return for anyone.

Originally Posted by Charlie Harper

I do find it odd that they can't get a loan. A long-established business, market leading and sucessful, turnover of £250m+ that consistantly rises, as does the trading profit of around £80m. With interest rates so low, a return of 7% or 8% would be a good return for anyone.

Cash is difficult to get your hands on at the moment though. If the bankers think there is a chance we could default on the loan then they wont lend it to us. If we are reliant upon Champions League football to pay the debts and we have to sell our best players too it doesn't take a genius to work out it's only a matter of time before we either run out of decent players to sell or we drop out of the top 4 or both. Look at how many football clubs have gone into administration over the past few years, quite a few and none had our level of debts, Yes we have more income but if that dries up it's all over.

we are in debt?

The main concern is understood to centre around the £175.5 million worth of debt that the Glazers are personally responsible for, not the £518.7 million of loans secured against the club.

Originally Posted by LaPaz

The main concern is understood to centre around the £175.5 million worth of debt that the Glazers are personally responsible for, not the £518.7 million of loans secured against the club.

Well that aint my concern. If it's not secured against the club then hopefully it will £#%&! them up big style. As long as the club debt is serviced I couldn't give a £#%&! if they all end up on the streets.

Such a shame to see United at the minute. It's blatently obviously we're struggling financially. It's a credit to our great manager and our players that we are where we are. The big question is how long will Fergie put up with it? Will he walk this summer and speak out? But then the big question why has he cuddled up to the Glazers and praised them etc so many times?

Originally Posted by MUFC One Love

Such a shame to see United at the minute. It's blatently obviously we're struggling financially. It's a credit to our great manager and our players that we are where we are. The big question is how long will Fergie put up with it? Will he walk this summer and speak out? But then the big question why has he cuddled up to the Glazers and praised them etc so many times?

Because otherwise he'd see his legacy shattered.

Originally Posted by Albert Tatlock

Because otherwise he'd see his legacy shattered.

What do you mean?

Surely if Fergie came out and said he can't work under them and a club like United shouldn't be struggling financially he'd be even more of a legend to the fans? I suspect he'll say something similar when he retires, or at least hint, 'cos he'll probably be under a gagging thing, but that's to little too late I'm afraid, he's praised them loads of times so it would look silly.

If the main area of concern is the PIK debts the Glazers themselves are responsible for you'd imagine they'll be looking to sell up either in whole or in part if they can't get them refinanced. Can't imagine them wanting to take any kind of a personal loss.

Just wouldn't it be £#%&!ing amazing if they sold up?

I'd probably get a season ticket again if they did.

Originally Posted by Spiffy

Well that aint my concern. If it's not secured against the club then hopefully it will £#%&! them up big style. As long as the club debt is serviced I couldn't give a £#%&! if they all end up on the streets.

And to think, there are actually people who see you as someone who gobs off from a position of almost complete ignorance

Originally Posted by MUFC One Love

What do you mean?

Surely if Fergie came out and said he can't work under them and a club like United shouldn't be struggling financially he'd be even more of a legend to the fans? I suspect he'll say something similar when he retires, or at least hint, 'cos he'll probably be under a gagging thing, but that's to little too late I'm afraid, he's praised them loads of times so it would look silly.

He really hasn't praised them that much though has he. All he's really said is that they haven't stood in the way of his job of running the football club. He wouldn't say this repeatedly if it isn't true imo. It's too easy to say that decisions that may look odd are simply down to financial restrictions. Man-management is not something that can be judged by outsiders with any great objectivity, for example. And Ferguson certainly has earned the right to make what outsiders perceive to be errors as far as making calls on players is concerned...

There really couldn't be worse owners for the long term security of the club or could there?.

Originally Posted by Tumescent Throb

He really hasn't praised them that much though has he. All he's really said is that they haven't stood in the way of his job of running the football club. He wouldn't say this repeatedly if it isn't true imo. It's too easy to say that decisions that may look odd are simply down to financial restrictions. Man-management is not something that can be judged by outsiders with any great objectivity, for example. And Ferguson certainly has earned the right to make what outsiders perceive to be errors as far as making calls on players is concerned...

I'm not sure Throb, he has praised them a few times as owners imo, so he can't play the 'I was stop from doing my job' card if we're not great in his last 1-2 years as manager.

Fwiw I think Fergie will retire this summer.

Originally Posted by RedMenace

There really couldn't be worse owners for the long term security of the club or could there?.

That's what i was saying to my mate the other day.

Out of all the possible people to buy us out, we really got the £#%&!ing short straw didn't we.

Chelsea got a russian billionaire, City got an even richer billionaire, £#%&! even queens park rangers have got a shit load of cash.