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