United Thread 2015/16

[Mike N]

A 'sensible' United fan told me on Friday that they would not be happy if Giggs was appointed manager next, but would if it were Neville!

 

[cityisOURS]

Just watching Goals on Sunday and I believe I've just heard that they've scored just 17 goals home and away in the premier league this season, the lowest in any of the football leagues. That is staggeringly bad

 

[Mike N]

Just watching Goals on Sunday and I believe I've just heard that they've scored just 17 goals home and away in the premier league this season, the lowest in any of the football leagues. That is staggeringly bad

But also very funny!

 

[Prestwich_Blue]

Just watching Goals on Sunday and I believe I've just heard that they've scored just 17 goals home and away in the premier league this season, the lowest in any of the football leagues. That is staggeringly bad

It's your hearing which is staggeringly bad. They've scored 28 goal home and away in the PL this season. Just check the table.

 

[silverback]

Warnock's been approached as a tramp.

Small edit.

 

[levets]

One of the M.I.B..

Main Mib

 

[1.618034]

Just watching Goals on Sunday and I believe I've just heard that they've scored just 17 goals home and away in the premier league this season, the lowest in any of the football leagues. That is staggeringly bad

Not quite. There have only been 17 goals scored at the Swamp this season including away teams.

Boring, boring man yoonited...

 

[Silva_Spell]

 

[Prestwich_Blue]

Not quite. There have only been 17 goals scored at the Swamp this season including away teams.

Boring, boring man yoonited...

That's right. They've scored just 12 at home and only Villa have scored less.

 

[Prestwich_Blue]

Only once they sell the club.
It's valued at what, 2 Billion, they've spent 250-300M, and have 350M (or so) debt to pay off in a couple of years.
The Glazers themselves are only taking 10-20M a year, aren't they, plus the 400-500M on interest/repayments which comes out of the club.

It's always puzzled me why they haven't just sold and taken the money and one possible answer is that selling might actually not be in their financial interest and might even leave them in some trouble.

Currently the rags are valued at around £1.6bn based on the share price. The Glazers supposedly put in around £270m of their own money but the likelihood is that was acquired via debt. Also there were the infamous PIK notes that nearly ruined them but they mysteriously paid off, although they wouldn't say how. They may have been up to £750-800m to pay off and it's a pound to a penny that was done via yet more debt. The rags still have about £350m debt on the books but that's been refinanced and isn't repayable until 2027. So most of that £1.6bn would probably go to clear debts.

Their First Allied Corporation business owns and manages shopping malls and all of those something like 70 malls are undoubtedly mortgaged to the eyeballs. The shares may well be security for some of that debt, although each mall is a separate company so it wouldn't affect the others or the rags in theory if some or all failed. But it's mot clear whether the equity value of the malls exceeds the debt, plus low-end malls like theirs are don't appear to have much of a future. As a result they might have been asked for personal guarantees and the only thing they have of any value is those shares.

So it's conceivable that there is so much personal and business debt outstanding, some of which might be secured on those shares, that even getting £2bn for them might not be enough to cover that and that it's better to hang on and take £2.5m each in dividends and hope that at some point in the future the numbers turn in their favour. Hopefully it will be a long wait.