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Re: £716.5m in debt
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We'll just have to spread our cheeks to an arab/asian businessman and hope he's not too rough with us. |
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Re: £716.5m in debt
Dont you think that the Supporters Clubs should come out and ask all United fans to request the FA to get involved?
Having the biggest club in England Supporters "not backing the World Cup Bid" (They certainly wont like that) refusing to back the bid and having a anti-world cup campaign until the FA/Government get involved might work and actually help the club out because currently we dont have any long term vision other than debt. Worth a shout? It would also be a good idea to get those horrible bastards involved, because there in a situation like us where investors have gotten into our clubs and are slowly destorying two of the biggest names in world football. |
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If there's a way to connect both clubs and have a goal to improve both clubs finances then we might have a campaign on our hands, two of the biggest clubs world wide not backing the bid wont look good will it? |
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Unfortunately it's just a matter of waiting for them to £#%&! off. Anything (protests, not a penny etc...) that can be done in the meantime can only bring that day forward. |
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What sort of interest is paid on the other loans, have they just got rid of the PIK rate but the increase on the other loans caused by the bond issue will nulify the the lowere PIK rate? What do sort of penalties do early pay offs give? They've just made it so we're still as £#%&!ed as we've always been but they can stay in charge and rape the club for another 5 years haven't they? |
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Re: £716.5m in debt
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Rather than worry about a expensive world cup they should be worried about there clubs they follow, cause the way the game is going over here there will be no clubs left to follow. A simple "Don't back the bid" campaign would be a good idea, why bother backing a bid when the country's clubs are in a mess and in need of attention, there are millions of supporters who are unhappy regarding there clubs financial situation using them to support our bid and expose there's might bring on a change and get rid of some investors. |
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Re: £716.5m in debt
there was a (vaguely) interesting letter on one of the Guardian blogs this morning:
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Edit: I have calculated that it would take approx 10000 pound coins to make a life size figure of a man. Therefore if you made 76000 coppery-zinc life-sized figures out of pound coins and arranged each one in each seat at OT then this example of art and sculpture on a huge scale would consist of enough cash to cover this debt. |
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United are £#%&!ed. |
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Re: £716.5m in debt
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So that the sale of Carrington, deliberately underinvesting in players, cutting all expenditure and increasing income as much as possible, even the sale and leaseback of OT, all might be necessary, and even contingencies the Glazers have planned. They will do absolutely whatever it takes to get the debt under control, and then will be able to run the club as a long-term money-maker. I personally can't see a buyout happening in the forseeable future until all possible avenues of revenue raising have been explored - and there are some grim ones to comtemplate. |
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It doesn't even lower the interest, we paid £40 million approx on it before and we will pay approx £40 million on it after the bond is issued. The reason they are doing it is the old debt has certain conditions tied into it such as the Glazers can't pay themselves a dividend. So the Glazers have said as soon as the bond is done they are taking a dividend of £70 million to pay off part of the PIK debt. The PIK debt isn't linked to the club it's their own personal debt. In short the refinance doesn't help our cash flow one jot, it just allows the Glazers to nick the Ronaldo money to pay off their own debt. Oh and they have arranged a £75 million overdraft so when we buy players in the summer it looks like we always had money to spend after all. I'm sure if I have the wrong end of the stick redloner will let us know |
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