More losses for the Rags

oakiecokie said:
WNRH said:
I don't find it funny to be honest as it has implications on us.

What, you mean that Cookie and Sheikhy were last seen in a white van speeding down Sir Matt Busby Way with £5 notes falling out of the van ??

for fuck's sake city. this isn't what we meant when we wished for a smash and grab raid at the swamp this season....
 
In February it was revealed there had been a transfer of the ultimate parent company of the club, Red Football LLC, from Nevada to Delaware.

That has raised fears about the ultimate ownership of the club, as companies' beneficial ownership information is not registered in the small US state.

But Mr Gill insisted that "the ultimate owners, 100%, are the Glazer family".

Can anyone explain the importance of this bit please?
 
Hi Guys,

A few points on the RAGS losses etc:

1 ... the £89M lost by mufc is included in the £109M lost by the glaziers ... so the loss is £109M

2 ... the "debt" is in two parts ... "the bond" of £500M and the "PIK" of about £275M

3 ... the bond is debt and has to be repaid ... I think in 2017 ... there are many covenants on this which impact the way the club is run

4 ... one of the covenants(I think) says that they have to keep 20% of the value of the bond in cash which is a cool £100M that they can not spend

5 ... the £5000M is the original debt and earns interest that the club pays but at the end of the term they have to repay the original amount borrowed ... and to do that they have to borrow another £500M ... hahahaha

6 ... the PIK was repaid last November .... the source of the money to repay it was withheld from the public ... to make the pay-off work a new higher level of Owner Company was constructed and then incorporated in the State of Delaware

7 ... the State of Delaware has the MOST restrictive privacy laws over corporate affairs in the world ... so now NOBODY knows who OWNS mufc and nobody knows WHO repaid the Glaziers Debt ... and the Premier League turn a blind eye (as do FA and UEFA by the way)

There is still £775M of debt hanging around this rotten organisation and the Glaziers are ripping out every penny they can over the next 5 years .... their only signing since "wooneygate" is a one year contract for the Welsh wonder kid - ryan giggs ....!!!!!

The rags are still in lots of corporate financial problems ... IMHO ... and I will certainly accept clarification and correction to any and all the above.

Cheers
 
But if its possible that ownership has been transferred then should there not be a 'fit and proper person test'.
Something about this sounds a bit fishy.
 
The Glazer's also own the freight terminal at Manchester Airport. What's that about if not hooking gullible people everywhere through Scum TV and sending merchandise everywhere?[/quote]

Where do you get this information from ?
The Freight Terminal is owned by Manchester Airport PLC.
And in turn GMC.
 
hjohn said:
But if its possible that ownership has been transferred then should there not be a 'fit and proper person test'.
Something about this sounds a bit fishy.

Thats what a lot of us said when the news broke.

Its exactly the same as Leeds who are hidden behind corporate structures impenetrable to figure out.

If you think about it HH Sheikh Mansour could buy United and close 'em down ;-)
 
fbloke said:
hjohn said:
But if its possible that ownership has been transferred then should there not be a 'fit and proper person test'.
Something about this sounds a bit fishy.

Thats what a lot of us said when the news broke.

Its exactly the same as Leeds who are hidden behind corporate structures impenetrable to figure out.

If you think about it HH Sheikh Mansour could buy United and close 'em down ;-)

The last option would certainly be the best but assuming they haven't changed hands as presumably the new owners would want people to know then you would think that its down to financial issues and their restructuring of the debt.
So what restructuring would make them try to cover it up to this extent?
Hopefully something that would cause them severe difficulties if it became public.
 
Will Slur be pressured into selling any of his most valuable assets like Vidic and Nani? I'd love Vidic here, Nani can fook off to Spain though and battle Di Maria for the world's biggest cheat label.
 
Isn't this just the same news that was posted 2-3 months ago?

Reckon they'll spend about 40-50 million this summer depending on retirements. The old **** will probably buy 3 young gems. Mancini will buy us half dozen £65m statue's

As long as they don't get taken over by sugar daddies, im happy
 

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