Nice bit of perspective.
United Thread 2015/16
- Thread starter Mikejl
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Nice bit of perspective.
Prestwich_Blue
Well-Known Member
Why is it a conflict of interest? He was at a private meeting and was being asked questions about all sorts of subjects. He was very entertaining and open about lots of things. It was actually me who asked him about City and the impact our takeover had on them. He was quite complimentary about the way we were being run and the impact we'd had on football and the community and he also made it clear we're going to be around for the long-term. I wouldn't have expected him to reply with "Sorry, I can't talk about other clubs because I'm on the UEFA & FIFA Executive".
dickie davies
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mancity dan
Well-Known Member
Loss rather than profit this year then haha.
babyape
Well-Known Member
http://www.theguardian.com/football...ed-malcolm-glazer-children-15m-year?CMP=fb_gu
Manchester United to pay Malcolm Glazer’s six children £15m every year
Manchester United to pay Malcolm Glazer’s six children £15m every year
Funny how you still associate him with the rags asking him that question, but there is no conflict of interest in his position on the board of the FA just like Gregg Dyke..
He said our owners are here for the long term no shit sherlock, not what ive heard for the past 5 years plaything i think it was last time i heard...
Prestwich_Blue
Well-Known Member
I looked at those financial statements quickly and there are some interesting things in there.
1) They made a small loss of just under £1.2m, even on that level of turnover.
2) That loss was after a player trading profit of £23.6m and a reduction in staff costs of over £11m.
3) They've reduced staff numbers by over 100 from last year to achieve that reduction in staff costs. That's 1 in 8 staff.
4) They had a refinancing (sale of shares I assume) that raised £272.5m but only used £228m of that to repay debt. So they kept back nearly £45m which I assume was to help their cashflow and pay for players or service their debt.
5) Servicing their debts is still costing them around £50m a year.
6) Player amortisation is up to nearly £100m a year from £55m last year.
It's clear that the year outside the CL hurt them badly, whatever spin they want to put on the figures. Cash appears to have been tight, which is supported by the stories of them paying for players on instalments. Had they not scraped in this season, they'd have really started to feel the pinch. Let's hope Italy take our fourth CL spot and they miss out on a regular basis.
crazyg
Well-Known Member
But that's only dividends. Then you've got to add on the "Management Fees" that will be going across the pond.
Prestwich_Blue
Well-Known Member
Maybe that's because he was their CEO on September 1st 2008 and had been talking about the signing of Berbatov on that day.
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