pretty scary if you dont understand how a business works, and the big numbers seem even scarier but that is how it is ! it is a business and it is the directors job to fund the borrowing. Which is clearly happening albeit not at a rate that pleases supporters but must be satisfying the lenders.
If we relied on a rich arab who built up our club with huge wages and overheads and then for arguments sake just walked away, then we would be in a mess the club would probably go under as player after player would sue for wages that the club was unable to generate through day to day business
man city just posted a £98m loss with more to come,
city are more exposed because if mr rich arab walks he can take the assets or do as he likes with them, he owns them outright.
whereas if the glazers default the assets belong to the club which in turn would belong to the bank which would find a buyer to satisfy its debt
peter punch some numbers into your calculator, it sounds as if you misheard or someone got it pretty wrong, at that rate they would be paying an apr of about 80%,
Martin, we both know that our new owner wont walk until the club is the best in the world, and he'd come out smiling. He's not made all those billions by bad business.
This is from the Express.. A leading sports administrator said: “United must significantly reschedule their debts otherwise what happened with Ronaldo is bound to happen again. That would mean selling Wayne Rooney.”
That sounds like a pretty serious situation to me.
I understood he made his billions by birthright, never say never peter.
if ! just if he walked the club would implode, they dont have the capabillity to generate the income needed to sustain the outgoings.
I agree united are in a mess, the incomings have been sufficient to pay the interest on the debts, buy players, and probably pay the directors a good bunce !
For me the yanks need to agree with the banks to refloat the club on the stock market and write the debt off... trouble is they would lose control
I can see the billionaire vultures circling right now ready to buy in.
United are in a mess and it is no small thanks to the Americans, how on earth were they allowed to buy the club with money secured against the asset they were buying? Madness is an understatement!
It is becoming obvious to all that they (UTD) do not have the resources to strengthen as they would like, but hopefully when the squad is at full strength (even Hargreaves) they can at least start performing again.
Come on You Reeeeeeds.
I remember listening to a football finance expert on the radio just after the Glaziers took over and took a loan out on the club. He said at the time they would have serious problems if they didn't have success in reaching the Champions League because of the interest they would be paying.
You could be right about the riot! Especially if they fail to see off Burnley.
As for Rooney being sold, I cannot see that the Glazers would be stupid enough to even contemplate that as a source of revenue. Errrr! No they wouldn't, would they!!
I do believe that their feet are getting a little cold at the magnitude of what they have taken on regarding the debt.
Old Trafford, forget it! It can never happen!!!!!!!!!!!!!!!!!!!
However, I do think that funds will have to come from somewhere and not just to service the debt. The club needs to move forward and you cannot rely on the youngsters coming through to provide anything except support for that improvement, the main impetus will come from more experienced players. I have just watched the youth team play Bunley in the youth cup (won 4-0) and there are some good kids in there but not many will make the grade to 1st team. It is only the odd one or two that will make it to Utd's 1st team, any other team strengthening will need to be done through the transfer system ££££££££'s