Rag trade

[fbloke]

Looking at the figures in a broader sense -

Matchday revenues up .5% - where inflation is running at 3% or above for the period. So effectively a reduction in revenues.

(I would like to know whether the season tickets went up in price as well??)

Losses for the last 2 seasons and looking at a further loss in these 12 months if all is as expected.

Consider that they are about to be hit by wage increases for Rooney and others whose contract dictates that they have parity with the highest earner at Man U - according to some that is VDS, Berbatov and possibly Wio.

 

[persvenality cult]

I don't buy the Qatar scenario. The shit has not hit the fan badly enough for the Glazers to sign a deal that would undermine their grasp on the club. If they were in bad trouble, their preference would surely be to carry on with the PIK or realise another asset.

And any deal without clauses and permutations that would likely strengthen the Qatari position would simply strengthen the Glazers' hold on the club by removing a pressing concern.

The most likely scenario, as I see it, is that they shifted cash about with the bond issue and this year's trading, and will top that up with finance. Most assume that this would come from the banks, but I suspect it's more likely to be PE. They need only gain a couple of points to make it worthwhile, as the benefit to their image (and the clubs) of completely removing the PIK is a major benefit.

Having said that, it's true that removing the PIK could be said to put them in a stronger position if they were looking to sell.

One thing I am unclear on is the security and liability associated with the PIK. Several people have said it was a personal liability for the Glazers, but it is secured on 100% of the shares held by one of the holding companies. David Bond of the BBC said this completely ensured the liability was kept at arm's length from the club, but he doesn't go into detail, so I have my doubts.

Ohh, and what to make of Sir Alex's comments today, about 'the club being dead the moment a player becomes more important than the club'... Preparing the ground for Rooney's sale? Maybe not, because he was just 'badly advised and realised he had made a mistake'. Good poker player that guy.

 

[oakiecokie]

I don't buy the Qatar scenario. The shit has not hit the fan badly enough for the Glazers to sign a deal that would undermine their grasp on the club. If they were in bad trouble, their preference would surely be to carry on with the PIK or realise another asset.

And any deal without clauses and permutations that would likely strengthen the Qatari position would simply strengthen the Glazers' hold on the club by removing a pressing concern.

The most likely scenario, as I see it, is that they shifted cash about with the bond issue and this year's trading, and will top that up with finance. Most assume that this would come from the banks, but I suspect it's more likely to be PE. They need only gain a couple of points to make it worthwhile, as the benefit to their image (and the clubs) of completely removing the PIK is a major benefit.

Having said that, it's true that removing the PIK could be said to put them in a stronger position if they were looking to sell.

One thing I am unclear on is the security and liability associated with the PIK. Several people have said it was a personal liability for the Glazers, but it is secured on 100% of the shares held by one of the holding companies. David Bond of the BBC said this completely ensured the liability was kept at arm's length from the club, but he doesn't go into detail, so I have my doubts.

Ohh, and what to make of Sir Alex's comments today, about 'the club being dead the moment a player becomes more important than the club'... Preparing the ground for Rooney's sale? Maybe not, because he was just 'badly advised and realised he had made a mistake'. Good poker player that guy.

But fucking shite at "Happy Families"

 

[DoubleDenimDave]

I'd heard it's the Qatari Royal family too :(

I hope this is all bullshit.I couldnt take it if it was true.

You smell like another one!!

Deary me.

 

[lloydie]

You smell like another one!!

Deary me.

Is that a denial?
Doesn't sound like one.

 

[bluemonkey71]

I'd heard it's the Qatari Royal family too :(

I hope this is all bullshit.I couldnt take it if it was true.

You smell like another one!!

we have an infestation on our hands by the looks of it.

Jacob33 reckons we are fucked if this happens? Yeah as if.<br /><br />-- Thu Nov 18, 2010 9:42 am --<br /><br />

Looking at the figures in a broader sense -
(I would like to know whether the season tickets went up in price as well??)

I think they were frozen. I'm loathed to post a link on here to their website but its easily found on google.

 

[Blue Mooner]

I'm intrigued by this link to the Qatari royal family particularly as I have just read that Fergie is over in Qatar promoting Qatar's bid for the 2022 World Cup.

There is no way Fregie is doing that out of the goodness of his heart. What would it be worth for the Qatari's to win the World Cup bid ?

Could it be possible that the Qatari Royal Family have cleared the PIK's in return for Fergie's supporty of the bid ? Complete conspiracy theory on my part and don't pretend to be ITK but why else would Fergie support their bid if it weren't to get something for the rags in return ?

 

[Rammy Blue]

I'm intrigued by this link to the Qatari royal family particularly as I have just read that Fergie is over in Qatar promoting Qatar's bid for the 2022 World Cup.

There is no way Fregie is doing that out of the goodness of his heart. What would it be worth for the Qatari's to win the World Cup bid ?

Could it be possible that the Qatari Royal Family have cleared the PIK's in return for Fergie's supporty of the bid ? Complete conspiracy theory on my part and don't pretend to be ITK but why else would Fergie support their bid if it weren't to get something for the rags in return ?

Nah mate, just cash for Fergie's skyrocket, even Zidane is at it on the TV.

 

[ssg2]

I've known about the Qatar link for 18months now through work, always been an interest and just biding their time for the right moment.
They want to put Qatar on the map just like the Sheik in Abu Dhabi.

They have a £60billion portfolio to buy companies and buy big, they have already purchased Harrods and shares in global companies and United are on their radar.

Going to be a very interesting few months

 

[Bluemoon115]

I've known about the Qatar link for 18months now through work, always been an interest and just biding their time for the right moment.
They want to put Qatar on the map just like the Sheik in Abu Dhabi.

They have a £60billion portfolio to buy companies and buy big, they have already purchased Harrods and shares in global companies and United are on their radar.

Going to be a very interesting few months

Obviously.