City and debt

DB

Interesting comments. I am aware of the position with Palm Jebel Ali as we have unbuilt property there, now 5 years behind schedule. Interestingly, the value doubled and has now stabilised and so, yes, no vast leap in value is now likely although completion has been promised by Taqeel. We have something smaller on Jumeirah which has been rented out for a couple of years so I don't see any vast issue with that,although I know that some of the villas are nto complete. As I see it, work goes on but is just taking longer due to the technical difficulties, unless you are seriously advising me to pull out of Jebel Ali?
 
Once Thaksins assets were frozen in Thailand, approximately 800 million, some of which he had ear marked for City, he knew he could not finance us as he wished……….

He had a deep regard for City, don't forget the 10,000 in Albert Sq with him singing along…………

So he spoke to his deputy Pairot and told him to find the best buyer for the club. Pairot has business in Bangkok and Dubai so he put the feelers out……….and he came into contact with Sulaiman Al Fahim and Amanda Stavely who were working for ADUG .they did due diligence and hey presto…….we had the best possible owner take over…………..who immediately wiped out our debt………..
 
Buford USA Blue.........totally agree with your comments mate...............

hope all well in the US of A
 
MOVE AND SHEIKER: Pairoj Piempongsant with Dr Sulaiman Al Fahim of ADUG
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Kinky i mis-spelt name check out above...........
 
Its interesting how this debt argument seems to change focus.

We all now know that City are not in any debt - wonderful.

We don't own the ground but the deal is a good one - wonderful

The non-squad developments are top quality - wonderful

The plans they have are beyond our wildest dreams - wonderful

The squad is winning - wonderful

The clubs history is honoured and cherished - wonderful

Fans are valued fully - wonderful

Now being a red isnt.

Their owners expected they could increase revenues and profits, tapping into their apparent expertise - LMFAO

The Glazed ones realised quite quickly that there was no massive boost in revenues likely (Madrid are attempting the sam trick btw) - LMFAO

The idea of increasing revenue (profit) by further expansion has now ended - LMFAO

Winning more trophies wasnt an option - LMFAO

Then the credit crunch killed off the hopes to re-mortgage - LMFAO

They have now entered the debt spiral familiar to those living on credit cards, eventually the only 2 options are

1. reduce debt and therefore monthly outgoings

2. Increase income, say 2nd job

But United can do neither.

So debt increases, squad shrinks, debt increases, squad ages, debt increases, squad has less quality, debt increases, Fergie retires BOOM!

ALL IN MY LIFETIME - LMFAO

Im off for a a cuppa and a giggle
 
AustinBlue said:
I don't think we should get carried away and predicting the doom of the other team based on their debt.
Click to expand...

Not so sure about that.

From what I've read they made 100 million last year and 40 of that was used to cover the interest payments on the loan.
100 million from the champions league/Winning the premiership etc etc.

If they ever fail to get in the champs league then their revenue will plummet, their interest payments will still be there and they will have smaller pots for the transfer windows. Roll this cycle on a few seasons and its game over IMO.
We've already seen them get 80 million for Ronaldo yet spend very small.

Noone in their right mind would walk up and throw 750 million straight at a club and buy it out of its debt.
 
As a simple man I cannot see how they remain a going concern?

I am pretty sure that the debt is secured mainly on the Trafford Sports Arena, yes?

If it is, then thats a false security as there is nobody else able to use such a facility.

ANY property is only worth as much as it can be sold for. When City left Maine Road the council could not find a tennant. Sale Sharks etc were unable to cover the maintenance costs etc, even rent free.

So I ask all of the accountants and legal folks out there what is the real worth of that parcel of land?

I suggest it is far less than the best it is secured on.

***closes eyes and prays, our lord, who art in blue heaven please let the misnomer club suffer severe financial hardship. Amen***
 
kismet said:
Once Thaksins assets were frozen in Thailand, approximately 800 million, some of which he had ear marked for City, he knew he could not finance us as he wished……….
.
Click to expand...

At best that's wishful thinking and at worst it's complete bollox. First his assets were frozen just before he bought us. Second he had at least as much offshore and beyond the reach of the Thai authorities as he had frozen.

I'm not sure that we are completely debt free as it may not make sense to pay the 40m bonds off early. But I'm sure we are covered for them. Also we have a notional debt for our future potential lease payments on the stadium.

Money coming into the club has to be accounted for somehow. It's probable that Sheikh Mansour's cash is treated as equity rather than debt. That means it's converted into shares. As he is the sole owner then he will get all the proceeds from any future sale anyway. So if he doesn't get back what he put in then he has no further claim on us.

We'll know better when the next accounts come out.
 
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