United thread 2012/13 (inc merged IPO thread)

[flb]

Re: United thread 2012/13.

Just a thought but does anybody think the timing of this has anything to do with the impending retirement of whisky features?

Even the yanks know how powerful a dynasty is-and how quickly it can crumble when a dynasty comes to an end.

Are they raising the funds now to safeguard there investment whilst the Ferguson bandwaggon still has some momentum?

It was my initial thought that this could be part of it. Him retiring with the debt in place and their cash pile severely depleted (as the 2012 accounts will reveal) will limit their options in attracting a decent new manager.

However it's also probably more to do with the fact that the Glazers are up to their necks in personal debt. Andersred's blog says they personally borrowed $400m to pay off the PIK notes and that there is a clause in that loan which charges a penalty if their debt exceeds earnings by an agreed amount. Their 2012 accounts won't be that good and could well trigger that (if it hasn't been triggered already). So his view is that they're despearate to pay off the bond debt to save their own skins. Plus there are six of them and he reckons that the three not involved in the rags are putting pressure on the three who are to reduce the family's exposure. It must be really hurting them financially.

Delicious!!!

 

[taconinja]

Re: United thread 2012/13.

If they truly want the glazers out then no they wont..

But this is scum fans we are talking here.

This IPO is surely aimed at institutional, rather than individual investors...no real voting rights, no dividends so only incentive to buy is possibility of making a profit on future sale of shares. On that basis I don't really see how relevant the comment about "scum fans" is.

With regards to the initial statement above, I agree that there may well be enough interest in the IPO to get the Glazers out of a bind. I'm no financial expert but surely anything that substantially reduces the current debt, and interest payments, even if not fully clearing them, substantially strengthens the Glazers position. Both the swiss rambler and andersred seem to think the IPO appears to be a good thing financially for Utd. Even taking account of last seasons European failure, Utd should post very healthy income figures for the year, commercial income being up on the previous year in the March 2012 accounts. That's not to say Utd's year end income won't be down overall but they should still have a pretty impressive income, and can presumably also point to the forthcoming increase in tv revenues.

I guess much will depend on the Glazers valuation but, assuming they give a realistic valuation, the IPO may well succeed. I hope I'm wrong as I'm sure the Glazers will only sell up once they think they've maximised their (??!! ) investment. If the flotation fails, leading to increasing interest payments/financial charges, it may hopefully encourage them to offload the club.

Why now? The Glazers could have done this at any time since they bought the club. If they had done it straight away and it succeeded they would have avoided paying out a large portion of the interest they have paid out to date. The value of the club would have risen on the back of the title wins.

Rumor is they took even more money out of the club this past season and they're doing this to stick the money back in as quickly as possible before they face a revolt on more than one front.

 

[dazdon]

Re: United thread 2012/13.

A REVOLTING FRONT

 

[greasedupdeafguy]

Re: United thread 2012/13.

<a class="postlink" href="http://www.redcafe.net/f7/bluemoon-goes-into-meltdown-287034/index80.html" onclick="window.open(this.href);return false;">http://www.redcafe.net/f7/bluemoon-goes ... dex80.html</a>
Over on red cafe there having a discussion about our spending, redrover seems to be a good poster, the others are just saying the same shit about how they've earned the right to spend 25mill, didn't they have a major financial backer in the 80s.

 

[BoyBlue_1985]

Re: United thread 2012/13.

While this thread keeps banging on about them having no money they are buying players so whats going on

 

[jonmcity]

Re: United thread 2012/13.

While this thread keeps banging on about them having no money they are buying players so whats going on

not world class ones

 

[LoveCity]

Re: United thread 2012/13.

While this thread keeps banging on about them having no money they are buying players so whats going on

not world class ones

Kagawa has the potential to be world class, hope people aren't laughing at this signing because he's a quality player.

 

[waspish]

United thread 2012/13.

While this thread keeps banging on about them having no money they are buying players so whats going on

not world class ones

Kagawa has the potential to be world class, hope people aren't laughing at this signing because he's a quality player.

Yep he is top player mentally technically and will probably start most games for the rags

 

[jonmcity]

Re: United thread 2012/13.

not world class ones

Kagawa has the potential to be world class, hope people aren't laughing at this signing because he's a quality player.

Yep he is top player mentally technically and will probably start most games for the rags

Yep but would get no where near our first team!

 

[waspish]

United thread 2012/13.

Kagawa has the potential to be world class, hope people aren't laughing at this signing because he's a quality player.

Yep he is top player mentally technically and will probably start most games for the rags

Yep but would get no where near our first team!

He probably might just make our bench with AJ and De Jong