United thread 2012/13 (inc merged IPO thread)

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Re: United thread 2011/12

pfazz said:
So let's get this right, the Glazers want people to give them some money to reduce a debt which only exists because the same Glazers bought MUFC with other peoples money and is now struggling to pay the interest on said money. Not only that but they require people to put up this money with the promise of absolutely no financial gain and no say in the way MUFC is run.
Where do I sign?
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yep, all enquries to Bernie Madoff, sell 1616, Sing-Sing.
 
Re: United thread 2011/12

One thing that does occur to me is that they must be desperate to pay off the bonds before Baconface retires and everything now points to this being his last season. If he goes and they're still in debt then it really is tick-tock as he is half their strength, given his ability to keep a relatively weak squad in the top four. To attract anyone decent they'll need to be able to spend decent money and the debt stops them doing that. Let's hope this whole thing fails.

The other interesting thing is that the PIK notes seem to have been a debt on the UK holding company, as that's where they were repaid from. Money seems to have been introduced (via the sale of shares) but the Glazer's contention that the PIK debt was a private one isn't borne out by this document.

The beauty of these offer documents is that you can see just how much financial havoc has been wrought by the Glazers. Without Baconface they'd have been screwed by now probably. I'd like to wish them a happy July 4th, god bless 'em.
 
Re: United thread 2011/12

I would love to see them endure the shite we had to go through over the last 40 years. Might bring about some much needed humility from them.
 
Re: United thread 2011/12

Prestwich_Blue said:
One thing that does occur to me is that they must be desperate to pay off the bonds before Baconface retires and everything now points to this being his last season. If he goes and they're still in debt then it really is tick-tock as he is half their strength, given his ability to keep a relatively weak squad in the top four. To attract anyone decent they'll need to be able to spend decent money and the debt stops them doing that. Let's hope this whole thing fails.

The other interesting thing is that the PIK notes seem to have been a debt on the UK holding company, as that's where they were repaid from. Money seems to have been introduced (via the sale of shares) but the Glazer's contention that the PIK debt was a private one isn't borne out by this document.

The beauty of these offer documents is that you can see just how much financial havoc has been wrought by the Glazers. Without Baconface they'd have been screwed by now probably. I'd like to wish them a happy July 4th, god bless 'em.
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PB why would anyone buy shares, without some sort of guaranteed return and no influence on club policy?
 
Re: United thread 2011/12

Prestwich_Blue said:
One thing that does occur to me is that they must be desperate to pay off the bonds before Baconface retires and everything now points to this being his last season. If he goes and they're still in debt then it really is tick-tock as he is half their strength, given his ability to keep a relatively weak squad in the top four. To attract anyone decent they'll need to be able to spend decent money and the debt stops them doing that. Let's hope this whole thing fails.

The other interesting thing is that the PIK notes seem to have been a debt on the UK holding company, as that's where they were repaid from. Money seems to have been introduced (via the sale of shares) but the Glazer's contention that the PIK debt was a private one isn't borne out by this document.

The beauty of these offer documents is that you can see just how much financial havoc has been wrought by the Glazers. Without Baconface they'd have been screwed by now probably. I'd like to wish them a happy July 4th, god bless 'em.
Click to expand...

I must confess I feel nearly as well disposed towards the Glazers as I do Sheikh Mansour.


Nearly.
 
Re: United thread 2011/12

hmm - take it Old Trafford is collateral for the loans then....

11 Property, plant and equipment (Continued)

Freehold property primarily comprises the Old Trafford stadium and the Carrington Training Ground. Subsequent to the reporting date, the Group acquired additional freehold property as described in note 31.

Property, plant and equipment with a net book amount of £240,540,000 (2010: £239,509,000; 2009: £nil; 2008: £nil) has been pledged to secure the senior secured notes borrowings of the Group (see note 21).

Capital commitments at the reporting date are disclosed in note 27.
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Re: United thread 2011/12

OHHHHHHH Man United!
The only football team to come from the Cayman Islands!
 
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