posted Jan 25, 2010

The £500m they raised through the bonds on Friday, what does that mean? That Utd have reduced their debts to £200m now? I'm clueless on this thing.

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No, bonds don't eliminate debt- they transfer who the club is in debt to.

A bond is pretty much an IOU. Man Utd is obligated to pay back the money- and pay a certain interest on the money owed.

BUT- the rates are much more favourable to the club than the bank debt was.

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posted Jan 25, 2010

Shame Gordon Brown does not think about the people of this country as he is advising football clubs to consider its supporters. Pot, kettle and black spring to mind.

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posted Jan 25, 2010

comment by geordiedevil (U12693287)
posted 27 Minutes Ago

So the Scotish Cyclops who speaks with fork tongue (PM) is lecturing the football world on debt. The person who oversaw the consumer debt of the late 90s and 00s, was at the helm when the disgusting greedy MPs disgrace came to light and who to 'stop' the recession plunged the UK into its worst debt in history. Think his comments will fall on deaf ears.

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Its comical innit mate, if you dont laugh you'd cry.
Brown is proven totally incompetent, and apart from anything else hes simply stating the obvious and also what everyone else has known and been saying for a couple of years now

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posted Jan 25, 2010

Geordiedevil, brown could be doing so much more for the man on the street here.

Think about it, BOE rate is 0.5%, so retail banks are getting hold of cash at that price.

They are then reselling it to us for 2.5% - 6% depending on what product you have (talking house mortgages here.) Thats a multiple of +5 to +12!

Previously with interest rates at 3-6% they had products at 4%-8%, i.e. multiples of +1.25 to +5.

End result, banks are making more cash than they ever have.

The government basically owning a couple of banks is a huge revenue earner for the government.

As well as other banks.

I can't believe that Liverpool/Man U/other clubs in debt couldn't re-negotiate better rates.

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posted Jan 25, 2010

People may run football like a business it will never be as customers come and go depending on the standard of the product thats not the case for any proper football fan -glory hunters excepted. Its about time we took our game back for us.

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posted Jan 25, 2010

polish blue, this is most definitely the case.

Thereby who the hell is fergie to say what the supporters should or shouldn't do?

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posted Jan 25, 2010

Where's the pleasure in it all?
What do the owners of MUFC think they are achieving? They are clearly in over their heads and they may have survived with their banking buddies when times were good but where are they now?
I personally couldn't walk down the street with my head up but I suppose:-
Firstly they don't walk down the street, especially in Manchester
Second, they clearly don't posess the same values as most of us
Worst of all is that all 6 Glazer kids have a 7 figure loan - effectively secured against the club - shame upon shame.
It will be a sad decline until they give it up and this is highlighted even more by the cash pumping in across the other side of the city.
Turkish Airlines new sponsor?? What's that all about?? I presume by the lack of fanfare that this is not a record setter - but please prove me wrong

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posted Jan 25, 2010

All the big clubs would be better off owned by their fans.

Sir Alex works for the Glazers so he is not in the best position to take up the fans' case.

The Government has a Minister for Sport who needs to discuss with the FA, the Premier League and the Football League how best to control the ownership of football clubs in the UK. In no way should the Glazers have been allowed to buy the MUFC shares and then change that equity into debt. That should have been an untouchable investment in the company.

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posted Jan 25, 2010

It is a big risk the way lots of clubs run their finances. They leverage the business extremely highly based on 'guaranteed' income such as Champions League money and TV money which is not guaranteed.

If a club fails to qualify for the Champions League (as will happen to Man U, Arsenal or Liverpool one day), or TV money takes a big fall (as could happen if the impending EU court case on the use of overseas satellite providers goes against sky/ FAPL, as sky will either want money back, or pay less for future agreements) then there is a real risk that clubs may find themselves in a Leeds/ Portsmouth situation or even worse, go to the wall.

The way forward, find a rich owner....but what if they pick up their ball and go home? Plus that is not really sport is it? The whole way in which european clubs are run should be looked at to create a more even playing field and a safer environment for clubs, not to mention a fairer ride for the fans.

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posted Jan 25, 2010

gordon brown would be the least qualified person to lecture any club about debt - stupid toss er.

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