Rag trade

[City Raider]

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?

We've got to get away from this obsession of seeing everything we do in comparison to that lot. It's like admitting they affect us.

Fcuk em, let em do what they need to do and we'll look after ourselves.

 

[fbloke]

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?

We've got to get away from this obsession of seeing everything we do in comparison to that lot. It's like admitting they affect us.

Fcuk em, let em do what they need to do and we'll look after ourselves.

I fully appreciate what you are saying and I agree. But I dont measure City against United in any sense other than trophies TBH.

That said I used the language I did in the same way I did when Liverpools troubles hit the headlines.

It weakens a team we are competing against for the top players, trophies and league position.

 

[bugsyblue]

We need to stop focussing on united and start solely focussing on city. As much as I'd like to see the rags go under as the next city fan, it aint going to happen. They are too big a best. They will always be there or there about competing for a champions league place. Let's just accept it. And focus on city challenging for the title in the years to come. Once we stop concerning ourselves with that club perhaps we may seem an improvement in our own.

Ctid

 

[mancunial]

perhaps gillette and hicks are making a bid?

 

[VOOMER]

reported on BBC news this morning that they are using their own personal money to pay them off

Might as well have come from rag tv

 

[blue order]

perhaps gillette and hicks are making a bid?

Amusing!

In reality this was always going to happen.When they re-financed the primary bank debt with the 500M bond issue which started the G A Y campaign,they only did this so they could 'get at' the expensive cumulative PIK loans(2nd layer).They couldn't before because it was a condition of the primary bank debt that it had to be cleared before clearing the PIKS.

It was NOT a condition under the bond re-financing.

Beware the illusionist trick ... it is not what you see but what you dont.Reports that they have cleared this 'personally' will for my money mean from other sources other than MUFC so it is easy on the eye and ear almost certainly re-financing.Utd look like all of a sudden the debt has dropped by a third.I believe they will start as they can on the back of this to draw off more cash directly within the covenants of the bond issue.

It isnt money laundering but if you think about the principle of laundering being three dimensional then the process is the same.Money taken out of Utd and filtered back through god knows what corporate structure and then ends up paying of the new debt which has replaced the PIKS.

Shit is still shit,even when you gift wrap it!

 

[VOOMER]

Just an idea but could this be from money they have taken from the club?

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.

What about the bonds issue, erm , thingy?

 

[slbsn]

Oddest development so far:

Bloomberg reporting that Glazers want to use £50m of club money to repay some of the bonds (not the PIKs). Sought consent last week from PIK holders - presumably refused hence them repaying the PIKs.

Presumably now that the PIKs will be repaid, they will go ahead and redeem without the need for consent. Washes out some of the transfer fund but very odd. Something's brewing.

 

[tolmie's hairdoo]

Sold the training ground facility....leasing it back.

Not sure what it means, but doubt it has generated such a vast amount?

A sale or float is being prepared IMO.

 

[slbsn]

Sold the training ground facility....leasing it back.

Not sure what it means, but doubt it has generated such a vast amount?

A sale or float is being prepared IMO.

No possibility of a float over £750m valuation in this market ie equity would be worthless. So won't be a float. As for sale, why go through the trouble of redeeming to sell at a later date. Unless sale to go through on Monday along with the repayment. Very unlikely although may explain Rooney's change of heart.