Rag trade

Have the Scum borrowed from Ocean Finance?

<a class="postlink" href="http://news.bbc.co.uk/sport1/hi/football/teams/m/man_utd/9192771.stm" onclick="window.open(this.href);return false;">http://news.bbc.co.uk/sport1/hi/footbal ... 192771.stm</a>

"It is not yet clear how the Glazer family were able to raise the money to pay off the PIK loans. "



Come on Prestwich...where are ya?
 
not my fault! said:
Just an idea but could this be from money they have taken from the club?
Click to expand...
It could be funded wholly or partly from money taken out of the club. Or it could be that they've acquired finance somehow and that will be repaid from monies taken out of the club.

Worryingly it could be good news from their point of view as it may mean that cash that could have been used to repay this debt will now be used to fund transfers. I was hoping those PIK notes would drag them down for a few years.

They've still got to find £500m in 2017 but I'm sure the Glazers will have an exit strategy before then.
 
it all sounds too positive to me

we were under the impression that the interest on the PIK notes was exorbitant and that they couldn't be paid off early, and that the interest would be rolled up each year to some huge sum

the fact that they have paid it off should leave them with excess cash in the future, therefore the nightmare scenario, glorious for blues, has been avoided
 
Re: Have the Scum borrowed from Ocean Finance?

Mods please merge.....didnt see the other thread. Ta
 
This is either really bad news for City fans in that the Glazers are reducing the debt in order to improve the club. Not the likeliest scenario with all things considered.

Then there is the other side of the coin where it is very good news for City fans as the Glazers may add more debt directly to the club via a re-financing.

The statements apparently states they have not used the clubs monies to pay down the debt, but that doesnt mean they havent sold/leased back the clubs assets or some other such trick.

I sense that the Glazers are making no new personal 'investments' so they surely are asset stripping or moving the debt onto the club in some form.

I cannot see them doing it to keep the fans at bay, can you?
 
the laugh always ends up on us eh! they will prob spend 60m in the next year which will see them as strong as ever
 
Just walked past the window of Bridgford's in Gorton and there's an advert in the window for a 78,000 football stadium "awaiting photograph"!

Seriously, could it be a sell & lease-back on Old Shitford and/or the "lesser" Carrington. That's probably the easiest way to get your hands on £220m?
 
fbloke said:
This is either really bad news for City fans in that the Glazers are reducing the debt in order to improve the club. Not the likeliest scenario with all things considered.

Then there is the other side of the coin where it is very good news for City fans as the Glazers may add more debt directly to the club via a re-financing.

The statements apparently states they have not used the clubs monies to pay down the debt, but that doesnt mean they havent sold/leased back the clubs assets or some other such trick.

I sense that the Glazers are making no new personal 'investments' so they surely are asset stripping or moving the debt onto the club in some form.

I cannot see them doing it to keep the fans at bay, can you?
Click to expand...
We don't know enough yet, but the likeliest scenario is that they have refinanced the PIK loan on less onerous terms.

Anything that consolidates the Glazer regime is excellent news for MCFC.
 
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