Red Cafe in meltdown

Edghill OG said:
I agree. Garnacho is one of their only players that does have quality. I was delighted when he was on the bench in the cup final of the treble season. They basically offered nothing going forward until he came on.

The concerning thing for me (if I cared) is why he isn't an automatic selection in that side and can only conclude it is his attitude. It's probably a chicken and egg scenario. They aren't happy with his attitude and he's pissed off at not starting with the tripe that's been selected before him.
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The Garnacho cycle is as follows.

He comes on for the last quarter of a game, running against tired legs, and looks amazing. Gets a goal or assists. Everyone raves about him starting a match.

He starts the next game and fluffs it. And fluffs it over and over.

Then he is dropped.

Comes on for the last quarter of a game and is amazing again.

Everyone asks why he isn't starting.

He starts. Fluffs it.

And on and on and on
 
Edghill OG said:
Exactly mate. 8 caps for Argentina, part of the squad that won the Copa America and he's still only 20 years old. Some people have their blue spectacles firmly glued on at all times.

I never watch Italian football so I never saw anything of Pogba to be honest to suggest he's a top player. Apart from that 45 minutes against us that is... grrr. Obviously he did have a serious amount of talent to be able to represent his country on almost 100 occasions though.
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Wasn’t even 45 minutes. 15 tops
 
Cumbie Blue said:
Potentially not paid correct NI, VAT and income tax on transfer dealings, payments to players and agents. TBF not the only club the tax man is speaking to about this but they seem to be the only one where it is significant enough that it needs mentioned in the annual accounts the last couple of years.
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OK thanks for responding.
 
Johnny Mars Bar said:
Stefan Borson of this parish called out Ratcliffe’s ‘broke’ comments as bullshit.

Which is interesting as misrepresenting the financial situation of a publicly traded company is very very illegal.
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Stefan was wrong on this. Ratcliffe used the term "broke" but then added that they were in danger of running out of cash, and you only have to look at their cashflow statement to see that.

I've been saying for a while they're burning through cash and have been using most of their £300m overdraft. The only other thing that's kept them going is the cash he's put in for shares.

Edit: Here's the cashflow statement from their last year end. They spent a net £85.5m (£171.2m - £85.7m) which includes transfer payments of £190.7m. They made a net repayment of £70m of borrowing (which effect means they borrowed £160m while repaying £230m) and proceeds from issue of shares generated £158.5m. Without that share issue they'd have burned through over £70m cash.

1748169501776.png

If you look at their half-year accounts to Dec 2024, they had a net cash increase of £22m but that includes share sale proceeds of £80m and another £200m of borrowing. So without those that would've been nearly £260m net cash outflow in just 6 months. That simply isn't sustainable.
 
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Prestwich_Blue said:
Stefan was wrong on this. Ratcliffe used the term "broke" but then added that they were in danger of running out of cash, and you only have to look at their cashflow statement to see that.

I've been saying for a while they're burning through cash and have been using most of their £300m overdraft. The only other thing that's kept them going is the cash he's put in for shares.

Edit: Here's the cashflow statement from their last year end. They spent a net £85.5m (£171.2m - £85.7m) which includes transfer payments of £190.7m. They made a net repayment of £70m of borrowing (which effect means they borrowed £160m while repaying £230m) and proceeds from issue of shares generated £158.5m. Without that share issue they'd have burned through over £70m cash.

View attachment 157681

If you look at their half-year accounts to Dec 2024, their net cash outflow was £54m and that includes share sale proceeds of £80m. So without those share sales that would've been £135m net cash outflow in just 6 months.
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And as you’ve alluded to before, a large part of the leveraged buyout debt (500m?) either needs to be paid off (ha!!!!) or refinanced in 26 - at a worse rate of interest than previous, due to interest rate rises and the increasingly risky outlook for United.
Then there’s the transfer payments debt outstanding (not all to be paid off by end of 26) of about £330m.
The redundancy payments/payoffs for the continued cull of staff - though I’m presuming not many will be high end longterm payoffs.

If cashflow doesn’t scupper them, then 25/26 PSR should (baring another PL random one team allowance, plus the likely £54m ‘doing a Liverpool’ of imaginary new stadium write-offs, or ‘doing a Chelsea’ selling women’s team to themselves).

What’s definitely certain is that the general mood from the cleaners to the players, via medical dept, coaching, scouting, hospitality… is staring at the approaching abyss without a whelks chance in a supernova of surviving at anywhere like ‘this is manshesnytid’ levels they arrogantly believed would continue forever in.

As per a previous post of mine:
Marvellous
 
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KentBlue said:
I think what most people are saying is that it's his inconsistency that winds them up. He might be great for his native country, I wouldn't know. But he's piss poor for the club that pays his wages.
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Maybe , just maybe , he has been looking at the post united careers of some of his old teammates and is thinking , in a better team I could be doing better . That dressing room is not a nurturing environment or one that can help him wind his neck in a bit .. . That said , like Doku , he needs to get more shots on target. Gets himself in good positions but end result is woeful .
 
Citi-leaks said:
The Garnacho cycle is as follows.

He comes on for the last quarter of a game, running against tired legs, and looks amazing. Gets a goal or assists. Everyone raves about him starting a match.

He starts the next game and fluffs it. And fluffs it over and over.

Then he is dropped.

Comes on for the last quarter of a game and is amazing again.

Everyone asks why he isn't starting.

He starts. Fluffs it.

And on and on and on
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Januzaj/Macheda Mk II?
 
jimharri said:
Januzaj/Macheda Mk II?
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Ahh, JizzyJazz. Another wonder-kid hailed as the new Messi by the rags PR department (in other words, the British media). Another serial Ballon d'Or winner to replace the previous one who -funnily enough, no one has heard about since 'not quite living up to his reputation.' Despite that reputation being given to him by the tabloids and Sly.
 
JASR said:
And as you’ve alluded to before, a large part of the leveraged buyout debt (500m?) either needs to be paid off (ha!!!!) or refinanced in 26 - at a worse rate of interest than previous, due to interest rate rises and the increasingly risky outlook for United.
Then there’s the transfer payments debt outstanding (not all to be paid off by end of 26) of about £330m.
The redundancy payments/payoffs for the continued cull of staff - though I’m presuming not many will be high end longterm payoffs.

If cashflow doesn’t scupper them, then 25/26 PSR should (baring another PL random one team allowance, plus the likely £54m ‘doing a Liverpool’ of imaginary new stadium write-offs, or ‘doing a Chelsea’ selling women’s team to themselves).

What’s definitely certain is that the general mood from the cleaners to the players, via medical dept, coaching, scouting, hospitality… is staring at the approaching abyss without a whelks chance in a supernova of surviving at anywhere like ‘this is manshesnytid’ levels they arrogantly believed would continue forever in.

As per a previous post of mine:
Marvellous
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The debt has to be refinanced in two years, not one. But if they end next season in a similar position to this one, they won't be in Europe in the 2026/27 season either (assuming they even make it that far without a financial crisis).

That refinancing should end up being much more expensive than they're paying now and they may even need to increase the amount borrowed.
 
Edghill OG said:
He's been capped numerous times for the reigning World Champions at the age of 20. He's obviously not 'total shite'.
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We'll have to beg too differ. His stats suggest he is hugely over-rated. I don't think his career will go anywhere beccause he has no spatial awareness. Rashford looked a lot better at the same age and he was over-rated as well.
 
They will escape UEFA sanction for excess losses as they are no longer in Europe. Lucky Jim.
 
Prestwich_Blue said:
The debt has to be refinanced in two years, not one. But if they end next season in a similar position to this one, they won't be in Europe in the 2026/27 season either (assuming they even make it that far without a financial crisis).

That refinancing should end up being much more expensive than they're paying now and they may even need to increase the amount borrowed.
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Just confirm something. How much did Glazers get personally from "Jim ill fix it", buy in?
 
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