United thread 2012/13 (inc merged IPO thread)

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Train said:
Its funny when you hear a rag talk about their history and how they 'earned' everything. Its like their trying to legitimize it & distort pieces here & there to fit the puzzle but you really can't polish a turd.

I hope they burn & fall as a club, & when someone is needed to pick up the scattered pieces, i hope we don't help them this time but rather just say 'bad luck, you fucked up'.

Aye and that self earned money (floatation on the stock market) is the reason they are paying for it spades in particular bacon chops falling out over that race horse. And I luv it!! This article from the times is posted over on the darkside: (sorry if it's already been posted)

From MUST
Every United supporter (and potential MUFC share purchaser) should get a copy of the Sunday Times today

The Sunday Times July 29, 2012 at 7:06 am

Michael Moritz is a top Silicon Valley investor — and a Manchester United fan. He offers an alternative reading of its float prospectus

WE recently changed our corporate name from Red Football LLC to Manchester United Ltd because we thought the former might be considered un-American and confuse prospective purchasers of our shares with the former Soviet Union’s national team.

Our business is a globally recognised brand and we estimate 10% of the world’s population follow our football team. For our entire 2011 fiscal year our revenue was $513m (£326m) — roughly equivalent to the revenue Google generates every five days.

Our club is being listed in New York because legal and regulatory restrictions are more favourable to people who place enormous amounts of debt on companies than in other venues we have considered — such as London, Singapore and Hong Kong.

We have more than $1 billion of debt due within the next 220 weeks that we have no means of repaying. All the assets of the club have been mortgaged against these debts, including our training ground and even our interest in a small freight warehouse.

Since July 2008, we have paid $792m in interest and other finance costs which is more than Sir Alex Ferguson, our distinguished manager, has paid for all the players he has purchased during the past 20 years.

Because we are so desperate to raise money, our corporate tax rate will rise from the 27% levied in the UK to the 35% required in America.

Our legal structure ensures the Glazer family, our main shareholder, will maintain absolute control over the company after the offering. Between 2001 and 2009 our club paid the Glazers a total of $25m in fees and gave them a $15m loan.

Our executive co-chairman, Avram Glazer, was previously the chief executive of Zapata Corp, a fish-oil producer, that once attempted to become an internet company by changing its name to Zap.com. Zapata was bought in 2009 by Philip Falcone of Harbinger Capital who, last month, was charged with securities fraud by the Securities and Exchange Commission.

Our business model is to help the Glazer family, our controlling shareholder, stay one step ahead of the banks. We employ a variety of approaches to achieve this including:

¦ Raising ticket prices. Between 2005 and 2011 we were able to raise the average ticket price by almost 6% a year, which was almost double the rate of inflation in the UK during the same period.

¦ Increasing sponsorship revenue. Guests of our corporate sponsors, such as Nike, DHL, Aon or Turkish Airlines, will soon be able to view our players’ private training sessions. We used to conduct these activities in strict privacy.

¦ Boosting merchandise sales. Our new team shirts (which differ for home and away games) sell for $85. We sell many other branded products including car air fresheners, short nighties for women, four-poster bed canopies and a special men’s fragrance — Eau de Sport.

The competition for player and management talent in the Premier League is intense and our rival owners includes Russian oligarchs, Middle Eastern sovereigns, Indian chicken farmers and American hedge fund managers. Some of these have access to cash — which, unless this offering is successful, we do not.

Fortunately we don’t have to comply with the same reporting obligations as other public companies because our business qualifies in America under the newly passed Jobs Act as an “emerging growth company”. We emerged 134 years ago and in the past nine months our growth was 6%. The word “company” does apply to our club — although in a limited manner.

Old Trafford, our home ground, is called “The Theatre of Dreams”. Prospective purchasers of our stock will understand why.

¦ Michael Moritz is chairman of Sequoia Capital
 
JM Mcr said:
waspish said:
^^^^
These rags don't know there own history Pre BaconChops Pre premier! When frankly average is what they were
Firstly I just wanna say that the quoted comments from redcafe are both idiotic and bitter, and I take your point about Utd's relative lack of success pre premier league.

Obviously Utd have had an exceptional 20 years since 1992/93 but I'm not sure about your description of average before that.Trophy wise the only more successful English team up to that point was Liverpool (who had amassed nearly twice as many trophies as Utd and Arsenal) and attendance wise Utd had been the best supported side in the country for 26 of the 40 years pre premier league, and in the top 2 or 3 for most of the others.

Given that, I would suggest being the overall best supported club between the end of the 2nd world war and the start of the prem lge, and a haul of 17 major honours in their 114 year history to that point (including being the first English side to enter, and win, the European cup and the first English side to enter, and win, a European competition post Heysel) makes Utds history above average (at the very least) in terms of English football pre 1993.

All depends on your perspective I guess, and realise I'm being pedantic, but get a touch fed up of the assumption that no rag knows their history pre sky years, and also that there wasn't even much of a history to recall back then.

I know what you mean - it's clear that plenty of United fans do know their own history and it's annoying to see blues tar every red with the same brush and vice versa of course. I'll be the first to admit that I do go off on one when I see idiotic comments from reds but I've no problem with those that know their stuff and as such I find it pretty much impossible to disagree with anything you say on here lol.

Just to clarify my earlier point - while I did say that United have had huge swathes of their history that were average, below average, or piss poor, I do recognise that your trophy haul as a whole pre-Ferguson was way above average when compared to most other English clubs of course. Having said that, and I'm being a little pedantic myself as well here, weren't you 3rd in the all-time list behind Villa before you won the PL in 1993? I think Villa had 19 trophies at that point to your 17 although on the flip side many of Villa's trophies were won at the back end of the 19th century and the early part of the 20th century and effectively had a 9-0 head start on you before you won your first trophy.
 
BY the way just discovered if you refer to united as "the gingham warriors" on their fans message boards, they go mental.

Think I will be calling them that all season.

And found out they hate norwich because they replied to the "we'll do what we want chant" at OT with "we've come for our scarves" to the same tune. They lack a sense of humour.

so glad I joined redcafe its brightened up a dull summer
 
Mr Ed (The Stables) said:
Train said:
Its funny when you hear a rag talk about their history and how they 'earned' everything. Its like their trying to legitimize it & distort pieces here & there to fit the puzzle but you really can't polish a turd.

I hope they burn & fall as a club, & when someone is needed to pick up the scattered pieces, i hope we don't help them this time but rather just say 'bad luck, you fucked up'.

Aye and that self earned money (floatation on the stock market) is the reason they are paying for it spades in particular bacon chops falling out over that race horse. And I luv it!! This article from the times is posted over on the darkside: (sorry if it's already been posted)

From MUST
Every United supporter (and potential MUFC share purchaser) should get a copy of the Sunday Times today

The Sunday Times July 29, 2012 at 7:06 am

Michael Moritz is a top Silicon Valley investor — and a Manchester United fan. He offers an alternative reading of its float prospectus

WE recently changed our corporate name from Red Football LLC to Manchester United Ltd because we thought the former might be considered un-American and confuse prospective purchasers of our shares with the former Soviet Union’s national team.

Our business is a globally recognised brand and we estimate 10% of the world’s population follow our football team. For our entire 2011 fiscal year our revenue was $513m (£326m) — roughly equivalent to the revenue Google generates every five days.

Our club is being listed in New York because legal and regulatory restrictions are more favourable to people who place enormous amounts of debt on companies than in other venues we have considered — such as London, Singapore and Hong Kong.

We have more than $1 billion of debt due within the next 220 weeks that we have no means of repaying. All the assets of the club have been mortgaged against these debts, including our training ground and even our interest in a small freight warehouse.

Since July 2008, we have paid $792m in interest and other finance costs which is more than Sir Alex Ferguson, our distinguished manager, has paid for all the players he has purchased during the past 20 years.

Because we are so desperate to raise money, our corporate tax rate will rise from the 27% levied in the UK to the 35% required in America.

Our legal structure ensures the Glazer family, our main shareholder, will maintain absolute control over the company after the offering. Between 2001 and 2009 our club paid the Glazers a total of $25m in fees and gave them a $15m loan.

Our executive co-chairman, Avram Glazer, was previously the chief executive of Zapata Corp, a fish-oil producer, that once attempted to become an internet company by changing its name to Zap.com. Zapata was bought in 2009 by Philip Falcone of Harbinger Capital who, last month, was charged with securities fraud by the Securities and Exchange Commission.

Our business model is to help the Glazer family, our controlling shareholder, stay one step ahead of the banks. We employ a variety of approaches to achieve this including:

¦ Raising ticket prices. Between 2005 and 2011 we were able to raise the average ticket price by almost 6% a year, which was almost double the rate of inflation in the UK during the same period.

¦ Increasing sponsorship revenue. Guests of our corporate sponsors, such as Nike, DHL, Aon or Turkish Airlines, will soon be able to view our players’ private training sessions. We used to conduct these activities in strict privacy.

¦ Boosting merchandise sales. Our new team shirts (which differ for home and away games) sell for $85. We sell many other branded products including car air fresheners, short nighties for women, four-poster bed canopies and a special men’s fragrance — Eau de Sport.

The competition for player and management talent in the Premier League is intense and our rival owners includes Russian oligarchs, Middle Eastern sovereigns, Indian chicken farmers and American hedge fund managers. Some of these have access to cash — which, unless this offering is successful, we do not.

Fortunately we don’t have to comply with the same reporting obligations as other public companies because our business qualifies in America under the newly passed Jobs Act as an “emerging growth company”. We emerged 134 years ago and in the past nine months our growth was 6%. The word “company” does apply to our club — although in a limited manner.

Old Trafford, our home ground, is called “The Theatre of Dreams”. Prospective purchasers of our stock will understand why.

¦ Michael Moritz is chairman of Sequoia Capital

Reading that merely confirms what wonderful owners the Glazers are. I wonder if this is some 'Brewster's Millions' type wager. It would explain a great deal.
 
gordondaviesmoustache said:
Mr Ed (The Stables) said:
Train said:
Its funny when you hear a rag talk about their history and how they 'earned' everything. Its like their trying to legitimize it & distort pieces here & there to fit the puzzle but you really can't polish a turd.

I hope they burn & fall as a club, & when someone is needed to pick up the scattered pieces, i hope we don't help them this time but rather just say 'bad luck, you fucked up'.

Aye and that self earned money (floatation on the stock market) is the reason they are paying for it spades in particular bacon chops falling out over that race horse. And I luv it!! This article from the times is posted over on the darkside: (sorry if it's already been posted)

From MUST
Every United supporter (and potential MUFC share purchaser) should get a copy of the Sunday Times today

The Sunday Times July 29, 2012 at 7:06 am

Michael Moritz is a top Silicon Valley investor — and a Manchester United fan. He offers an alternative reading of its float prospectus

WE recently changed our corporate name from Red Football LLC to Manchester United Ltd because we thought the former might be considered un-American and confuse prospective purchasers of our shares with the former Soviet Union’s national team.

Our business is a globally recognised brand and we estimate 10% of the world’s population follow our football team. For our entire 2011 fiscal year our revenue was $513m (£326m) — roughly equivalent to the revenue Google generates every five days.

Our club is being listed in New York because legal and regulatory restrictions are more favourable to people who place enormous amounts of debt on companies than in other venues we have considered — such as London, Singapore and Hong Kong.

We have more than $1 billion of debt due within the next 220 weeks that we have no means of repaying. All the assets of the club have been mortgaged against these debts, including our training ground and even our interest in a small freight warehouse.

Since July 2008, we have paid $792m in interest and other finance costs which is more than Sir Alex Ferguson, our distinguished manager, has paid for all the players he has purchased during the past 20 years.

Because we are so desperate to raise money, our corporate tax rate will rise from the 27% levied in the UK to the 35% required in America.

Our legal structure ensures the Glazer family, our main shareholder, will maintain absolute control over the company after the offering. Between 2001 and 2009 our club paid the Glazers a total of $25m in fees and gave them a $15m loan.

Our executive co-chairman, Avram Glazer, was previously the chief executive of Zapata Corp, a fish-oil producer, that once attempted to become an internet company by changing its name to Zap.com. Zapata was bought in 2009 by Philip Falcone of Harbinger Capital who, last month, was charged with securities fraud by the Securities and Exchange Commission.

Our business model is to help the Glazer family, our controlling shareholder, stay one step ahead of the banks. We employ a variety of approaches to achieve this including:

¦ Raising ticket prices. Between 2005 and 2011 we were able to raise the average ticket price by almost 6% a year, which was almost double the rate of inflation in the UK during the same period.

¦ Increasing sponsorship revenue. Guests of our corporate sponsors, such as Nike, DHL, Aon or Turkish Airlines, will soon be able to view our players’ private training sessions. We used to conduct these activities in strict privacy.

¦ Boosting merchandise sales. Our new team shirts (which differ for home and away games) sell for $85. We sell many other branded products including car air fresheners, short nighties for women, four-poster bed canopies and a special men’s fragrance — Eau de Sport.

The competition for player and management talent in the Premier League is intense and our rival owners includes Russian oligarchs, Middle Eastern sovereigns, Indian chicken farmers and American hedge fund managers. Some of these have access to cash — which, unless this offering is successful, we do not.

Fortunately we don’t have to comply with the same reporting obligations as other public companies because our business qualifies in America under the newly passed Jobs Act as an “emerging growth company”. We emerged 134 years ago and in the past nine months our growth was 6%. The word “company” does apply to our club — although in a limited manner.

Old Trafford, our home ground, is called “The Theatre of Dreams”. Prospective purchasers of our stock will understand why.

¦ Michael Moritz is chairman of Sequoia Capital

Reading that merely confirms what wonderful owners the Glazers are. I wonder if this is some 'Brewster's Millions' type wager. It would explain a great deal.
I'm guessing he won't be investing?
 
sums it up:

KennyWFDLive 17m
Chevrolet: History of horrid debt, merchandise looks good on the outside but barely above average and no resale value.

Perfect fit for UTD
 
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