More losses for the Rags

rassclot said:
Squatter said:
The old **** will probably buy 3 young gems.

you mean like bebe, obertan & tosic? i certainly hope so.

Yes but Ronaldo, Rooney and to an extent Hernandez show he can pick up some goodens, not that Rooney was unknown but i didnt know about the other 2 before they rocked up

Bebe, lol
 
portisheadblue said:
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

Thanks for posting this as if its accurate (not doubting you btw) it helps explain two things for me.

1. Why they have so much cash in the bank - namely they have to under the bond issue and also perhaps so that they can 'dip in' to pay a dividend (for the purposes of paying due interest?) whilst still claiming the remaining £100m means they are still well off.

2. Why the phrase "still 100% owned by the Glazers" is so important as they could perhaps have sold an option on a future sale, locking in a price now that they can only clear if the option is bought back?

Just speculation on my part of course.
 
Squatter said:
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
Last time it was a £83m loss. Now it's £109m.
 
rassclot said:
Squatter said:
The old **** will probably buy 3 young gems.

you mean like bebe, obertan & tosic? i certainly hope so.

Lol hopefully but I was thinking more like Smalling Hernandez and the gimp twins. Actually I worry more when they pick up someone surprising as they always mould them into a mouthy dirty little fucker. Usually pretty decent too.

We should be doing that kind of thing as well as the big money/wages players.
 
Squatter said:
rassclot said:
you mean like bebe, obertan & tosic? i certainly hope so.

Lol hopefully but I was thinking more like Smalling Hernandez and the gimp twins. Actually I worry more when they pick up someone surprising as they always mould them into a mouthy dirty little fucker. Usually pretty decent too.

We should be doing that kind of thing as well as the big money/wages players.

You boys are making this too easy.
 
Damocles said:
Squatter said:
Lol hopefully but I was thinking more like Smalling Hernandez and the gimp twins. Actually I worry more when they pick up someone surprising as they always mould them into a mouthy dirty little fucker. Usually pretty decent too.

We should be doing that kind of thing as well as the big money/wages players.

You boys are making this too easy.

Let me guess rag rag rag :'(

This is the general forum I think posts should be honest and objective. I save my bile for the main forum. Cheers.
 
Whitworth Park said:
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?

Where do you get this information from ?
The Freight Terminal is owned by Manchester Airport PLC.
And in turn GMC.[/quote]

I stand corrected.

Its a freight terminal next to the swamp. Hahahahahaha.
 
Re: Rags lose £109m in 2010 (£192.6m in total!!!)

big blueballs said:
Damocles said:
Nah, all the signs are that the Glazer's huge gamble is about to pay off.

Once they get the debt out of the way, they'll PLC it again and make about a bazillion quid.
This^^^^

It is like paying of the morgage on a house you own using a tenant paying rent, then selling it, win win

but it would be an interest only mortgage so you still owe what the house was worth when you bought it..then you pocket the difference.
 

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