Rags Debt - Daily Mail & Panorama [Merged]

Re: Panorama on the Rags debt

simmers said:
bluevengence said:
Can`t wait for the panorama in twenty years time about how blue square league team manchester united were once one of the biggest teams in the world ... how it all went wrong and they ended up paying rent to play at moss lane in front of 350 fans
whilst their once local rivals MANCHESTER CITY went on to dominate domestic and european football
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amusing but wouldn't want them to stoop so low as all their glory hunting fans would jump ship and start supporting us
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TBH I would like them to be even lower than that or even out of existence
 
Re: Daily Mail: Glazers £1.1Billion in Debt

Prestwich_Blue said:
Of course that £1.1bn only includes the PIK debt at its current value (c£200m). Unless they pay that off, it will rise to £600m in 6 years, which means their total potential debt is actually over £1.5bn.
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I love it when you talk dirty to us!
 
Re: Daily Mail: Glazers £1.1Billion in Debt

Prestwich_Blue said:
NewbBlue said:
Yeah, regardless of whether or not the extra 400 million is in United's name or not, they're in trouble. If the other businesses aren't providing enough money for their debts, they'll draw money out of United. An unhealthy number of Glazer malls are underwater on their mortgages.
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I've been telling you all for a while that The Glazers' US businesses aren't healthy and they can't afford to sell United as it's their only source of income. Even getting £1.5bn for the rags would be barely enough to save them. They will have to take something like £90m a year out just to keep their nostrils above water.

They are not good businessmen. They borrow big and are adept at screwing every last penny out of their assets but they've screwed up the Bucs, they've screwed up First Allied and (hopefully) they're going to screw the rags up as well. Their gamble was that they would stay in the top 4 with little net spend but the rise of us and Spurs has put the fear of god into them.

At the moment they can (at best) only do two of pay interest on the bonds, pay off the PIK notes and buy players. Without CL income they can only do one of those.
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I do not believe for a moment that the 1.5 billion offer was legit. That was a tactic by the Glazers to drive up United's perceived market value.

Rag debts attached to the team (or the holding corporation) are around 700 million. That would mean United, debt free, should be worth 2.2 billion, which is outrageously overpriced. No serious buyer would contemplate such a sum, and Glazer would take that deal in a heartbeat because it's a severe overvaluation of United.

Without the sale of Cristiano Ronaldo, Rags lost money. Their valuation in a stock market sense wouldn't even include earnings, they'd be factoring in short-term losses. That means the value of the club is the assets and goodwill minus liabilities, which is nowhere even close to that sum, probably no more than 400-500 million.
 
Re: Daily Mail: Glazers £1.1Billion in Debt

DalbeyINUK said:
As someone who works in the Real Estate industry in America I can tell you these guys are much worse off then is being let on even by this article.

The dirty little secret in the American economy at the moment, well there's two number two being there is no recovery going on, is that while the housing market started this recession, we've yet to experience the real collapse which will be the commercial real estate market. It's the most over leveraged debt ridden market in America and when it goes(about 75% likely) it will destroy people like the Glazers. They will literally be left as paupers by the time the bankruptcy courts get done with them.

People can deny all they like, but these guys have a very real chance of bringing United down into bankruptcy with them, no matter what their fans and the FA want.
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If this is true, isn't there a very real risk...or to put in your terms, a 75% chance...that we're due to experience Global Recession 2: Revenge of the Global Recession? If there's half the truth in that statement that you claim there is, then we could be looking at a financial collapse several times worse than the one we just survived, barely months after we negotiated the first one...Screw the whole "Manchester United tanking" thing, that economic crash could be bad enough that seeing the rags go out of business barely even registers in importance with the more important story of trying to find the cash to keep ourselves (as individuals, I don't mean City here) going each day...
 
Re: Daily Mail: Glazers £1.1Billion in Debt

what you have to remember is that... united will never die. they`ll never die............. so i`ll settle for a coma
 
Re: Daily Mail: Glazers £1.1Billion in Debt

The team's "walk-out" tune has been annouced for next season....

[youtube]http://www.youtube.com/watch?v=bNPJuJSVmNA[/youtube]
 
Re: Daily Mail: Glazers £1.1Billion in Debt

like a bit o quo...
 
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