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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. |
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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.
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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?
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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. |
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Fwiw I think Fergie will retire this summer. |
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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. |
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