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It looks like the Glazers have underestimated their debt to the tune of £400 million.
If Platini gets his way the ‘biggest club in the world’ could be fooked
[link2:ffpdjsue]Story Link by BBC,http://news.bbc.co.uk/1/hi/uk/10237268.stm%5B/link2:ffpdjsue%5D
A lot of this is probably down to exchange rate shifts following the uncertainty of the general election.
The Glazer family’s level of debt is irrelevant to Manchester United as long as the club continues to bring in income that can service that debt & (from the footballing point of view) provide money for salaries, transfers etc..
The Glazer family’s level of debt is irrelevant to Manchester United as long as the club continues to bring in income that can service that debt & (from the footballing point of view) provide money for salaries, transfers etc..Really? :o All that interest they’re paying comes from income that could be spent elsewhere.
A lot of this is probably down to exchange rate shifts following the uncertainty of the general election.Not sure about that. I would have thought the uncertainty reduced the value of sterling meaning that the debt in pounds would have reduced as the dollar would be worth more.
Edinburgh – the interest on United’s debt could certainly be better spent for the club elsewhere but United’s income won’t be being used to pay off debts/interest on debts for any of their other business interests – which is what I meant
As long as United’s income covers the interest & loan repayments & allows them to strengthen on the playing field & all the rest of it. The Glazer family debts don’t really matter – even if they were forced to sell United, they’d be snapped up in a second
If any of you went to Soccer Aid yesterday you might have saw a banner saying ….
STARVE THE GLAZERS
DONT RENEWI’m no genius but, i’m not sure they’ll worry to much that a few thousand people have stopped calling for there heads.
I’ll investigate … :D
I’m no genius
questions[/quote]
:? [/quote]your right though sephton your no genius as you are a annoying little kid that does not know the difference between sh”t and clay ;)
Edinburgh – the interest on United’s debt could certainly be better spent for the club elsewhere but United’s income won’t be being used to pay off debts/interest on debts for any of their other business interests – which is what I meantAs long as United’s income covers the interest & loan repayments & allows them to strengthen on the playing field & all the rest of it. The Glazer family debts don’t really matter – even if they were forced to sell United, they’d be snapped up in a second
Fair point, I think the real concern is that the global debt of the Glazer family might bring down the premiership club. Which many would enjoy.
It does prove that the Premiership need to close ranks on its clubs and ensure they are all managed on a sound basis.
Interesting in the news today about the German league now being more profitable than the Premiership, that dispite lower salaries, lower ticket prices and fans having a say in their own clubs…. This hasnt stopped the German clubs raising in power across Europe again either…
When I made those comments yesterday I hadn’t read the report (still haven’t to be honest) but I saw a news article on it last night.
Whilst I think there are big questions over the impartiality of the journalist & his findings and the intent with which he started his investigation, what he is basically saying is that the level of debt/loans the Glazers have taken out to buy various business interests (above & beyond United) is so high & the level of profitability of the companies (with the exception of United) is so low, that the only way they can meet repayments & the interest on those debts/loans is by taking profits from United as payments in kind & put them into the other firms, so that could technically put United up the kaiber
Then again if United loses its success, profitibility will slide so its in their interests to keep them successful
What the journalist also skipped over was that he used United as the big profit making part of their empire & how they’d have to use its profits to prop up the other parts BUT United also account for about 65% of the debt he was talking about
So basically I think he was using figures that he thinks supports his argument for whipping up a scare story & ignoring, or keeping quiet the bits that didn’t fit in with his theoryI don’t think this is entirely founded. Besides, while United are still turning a profit, there’s no major threat to them until they ‘do a Liverpool’. As long as they keep winning the championship, European cup, or any other kind of silverware (in fact, I’d say the league cup is shying ahead of the “FA Cup sponsored by Eon” in terms of priority for some of the bigger teams) the Glazers won’t leave or think of selling.
The Red Knights have decided against making a bid for the club, and I think that all the protesting we saw this season will rapidly decline come August.
I also don’t think I’d “love” to see it happen. As it stands there’s no way we’d win the division any way so I can only see Man Utd as our rivals in terms of proximity to us, and even then there’s barely anything there. I didn’t want to see Pompey fall into such disarray, it just shouldn’t happen in football.
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