Rag trade

The PIK loan was a personal loan on the Glazers, no interest was paid on the loan it was simply rolled up and added to the debt. This debt wasn’t United problem it was the Glazers problem (it was a ticking time bomb)
If they are going to pay off this debt it will leave the Glaziers safe for the future whilst still being able to draw as much as they want out of United and unless they have just won the mega Euromillions lotto a few times the new money must have been financed elsewhere, sale of the ground, naming rights whatever.
What it will do is impact on United’s turnover and annual losses as any new deal will probably be against the club and cost them each year, remember no interest was paid on the PIK loans so it didn’t show in there losses. And bigger losses impact on there ability to buy new players under EUFA’s new rules.

Any way the Glazers don’t face the Hicks Gillette problem, they can squeeze as much as they want out of the club and leave with a profit.
 
Agent Malc has found 220 million under his matress to pay the PIK's off

He's either


1) Sold a share of the club to raise the cash
2) Borrowed it at a better rate than the PIK rate
3) Sold the stadium/naming rights
4) Paid it out of his own money
 
bluemonkey71 said:
Agent Malc has found 220 million under his matress to pay the PIK's off

He's either


1) Sold a share of the club to raise the cash
2) Borrowed it at a better rate than the PIK rate
3) Sold the stadium/naming rights
4) Paid it out of his own money

paid out of the familys own pocket according to NW Tonight
 
bluemonkey71 said:
Agent Malc has found 220 million under his matress to pay the PIK's off

He's either


1) Sold a share of the club to raise the cash
2) Borrowed it at a better rate than the PIK rate
3) Sold the stadium/naming rights
4) Paid it out of his own money

Mega LOL
 
Balti said:
bluemonkey71 said:
Agent Malc has found 220 million under his matress to pay the PIK's off

He's either


1) Sold a share of the club to raise the cash
2) Borrowed it at a better rate than the PIK rate
3) Sold the stadium/naming rights
4) Paid it out of his own money

paid out of the familys own pocket according to NW Tonight
If they've sold OT then strictly speaking that could be true. They've just missed the bit about how it got into their pockets in the first place.
 
Hang on a minute !! If you had £220 million lying around in an investment account why would you take out a loan paying interest of 16% !! You would struggle to achieve that rate in any investment so it would be like throwing millions of pounds away, unlikely !!

There is something decidedly dodgy about this.
 

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