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 Post subject: Would be too funny...
PostPosted: Tue Jan 12, 2010 10:20 am 
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Manchester United could cash in on star striker Wayne Rooney to help ease the club's debts. Spanish giants Real Madrid and Barcelona are considering £70m bids for the England international.

almost certainly bullshit, but even for it to be rumoured is funny enough.

Looks like the Glazers have finally had enough time to start fucking up the dynasty. Didn't Rome crumble from within also?

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PostPosted: Tue Jan 12, 2010 10:27 am 
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oh please please please.

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PostPosted: Tue Jan 12, 2010 10:38 am 
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Well, Real can afford him, he is a great striker, united are crippled with debt...this could happen. Forget £70m, hey'd accept £30m for him....and they'd be fucked.

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PostPosted: Tue Jan 12, 2010 10:54 am 
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we should chuck in a bid of 90mill, then play the pug faced bastard in the reserves

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PostPosted: Tue Jan 12, 2010 12:18 pm 
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Glazer family takes £20m in fees and loans from Manchester United• Six members of family revealed to have borrowed from club
• David Conn: How the Glazers have milked United for millions
Buzz up!
Digg it
Owen Gibson
The Guardian, Tuesday 12 January 2010
Article history

Avi, Bryan and Joel, three of Malcolm Glazer's five sons – he also has a daughter – in the stands at Old Trafford. Photograph: Mike Egerton/Empics/PA

Manchester United's owners, who loaded the club with more than £700m in borrowings to fund their purchase, have taken £10m out of the club in "management and administration fees" and have personally borrowed a further £10m in the past year, it has emerged.

The club's financial results, released yesterday, revealed that six members of the Glazer family on the Red Football board had borrowed a total of £10m, which does not have to be repaid for five years.

Manchester United also released an offer document yesterday for the £500m bond it says will be used to re-finance the £509m debt secured on the club.

The offer document reveals that on 30 June last year the club entered into a £2.9m-per-year agreement with SLP Partners, a company related to the Glazers. Since 1 July 2006 a further total of £10m has been paid in "management and administration fees".

"During the period from 1 July 2006 to the date of this offering memorandum, management and administration fees of approximately £0.6m, £1.8m, £1.4m, £3.1m and £3.1m were paid to our affiliates," it said.

• David Conn: How the Glazers have milked United
• Nils Pratley: United to raise £500m through bond issue
• Kevin McCarra: Ferguson in conservative mood
• The latest news on Manchester United in one handy placeUnder the terms of the bond issue it promises to terminate the agreement with SLP Partners but reserves the right to pay up to £6m per year to "one or more entities related to our ultimate shareholders for administration and management services".

The 322-page offer document for those bonds, circulated in the City yesterday, also makes provision for £70m to be redistributed to the ultimate parent company for "general corporate purposes, including repaying existing indebtedness". This is thought to refer to the high-interest hedge fund loans secured against the Glazers' own shareholding in Manchester United. Those Payment In Kind loans, which accrue interest at a rate of 14.25% a year and "roll up" on an annual basis, are now believed to be worth almost £200m, as compared with £175m the previous year.

The document also reveals that the club has received a large slice, £35.9m, of its new £80m sponsorship deal with AON. It also reveals plans for a new £75m "revolving credit line".

City insiders expect the refinancing, put on hold when the markets collapsed in 2008, to succeed. The bond's yield, which could be around 9%, will be set only after an international roadshow. The offer document also reveals that Red Football recently lost £35m when attempting to hedge against a rise in interest rates last year.

In its financial results the club revealed that it was only the £80m sale of Ronaldo and other transfer dealings that lifted Manchester United out of the red last season. Results for the Red Football Ltd subsidiary revealed a pre-tax profit of £48.2m but also indicated the overall amount owed by the club and its owners broke the £700m barrier for the first time since Malcolm Glazer acquired the club in 2005.

Despite increased revenues, interest payments and write downs meant that, without the £80.7m realised in transfer profits in the year to June 2009, the club would have made a loss of £32.5m.

According to yesterday's results, bank loans secured on the club now stand at £509.5m, compared with £518.7m the previous year. Interest payments on that debt totalled £41.9m.

Representatives of the Glazers have repeatedly pointed to the cash flow generated by the club, once the interest on the loans had been serviced and before write-offs, as proof that money is available to Sir Alex Ferguson for team strengthening purposes.

The Glazers have been keen to emphasise that the PIK loans, advanced by hedge funds at a high rate of interest when the family last restructured the debt in 2006, are not secured on the club but on their shareholding in it. If they were to default, the hedge funds would not have any say over the operational side of the business.

The £500m bond issue, if fully subscribed, is unlikely to reduce the club's interest burden in the short term. It will be used to repay four secured loans, with interest rates of between 2.125% and 5% above the Libor rate at which banks lend to one another. Those rates were swapped for a fixed rate of 5.08% last year.According to the offer document, those hedging arrangements had cost Red *Football around £35m to 6 January this year. It has promised to use some of the proceeds of the bond issue to reduce the liability by £8m. City sources said that the seven-year bond would give the Glazers greater certainty and no longer leave them at the mercy of the market. The release of yesterday's figures will have partly been designed to prove to potential investors the health of Manchester United's cashflow position despite its heavy debt burden.

The club's results showed an increase in turnover for the year to June 2009 to £278.6m from £256.2m as matchday revenues, media income and commercial revenues all continued to rise.

Matchday revenue increased from £101.5m to £108.8m, largely thanks to increased season-ticket prices, while media revenues rose from £90.7m to £99.7m and commercial income rose from £64m to £70m. The club will also point to a wages to turnover ratio of 44%, which compares favourably with most other Premier League clubs.

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 Post subject:
PostPosted: Tue Jan 12, 2010 4:45 pm 
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gibbonicus_andronicus wrote:

In its financial results the club revealed that it was only the £80m sale of Ronaldo and other transfer dealings that lifted Manchester United out of the red last season. Results for the Red Football Ltd subsidiary revealed a pre-tax profit of £48.2m but also indicated the overall amount owed by the club and its owners broke the £700m barrier for the first time since Malcolm Glazer acquired the club in 2005.

Despite increased revenues, interest payments and write downs meant that, without the £80.7m realised in transfer profits in the year to June 2009, the club would have made a loss of £32.5m.

According to yesterday's results, bank loans secured on the club now stand at £509.5m, compared with £518.7m the previous year. Interest payments on that debt totalled £41.9m.



That's the interesting part. They made a pre-tax profit of £48.2m in the same year they sold a player for £80m (not exactly something that happens every year). Not to forget the £509.5m still owing.

gibbonicus_andronicus wrote:
Matchday revenue increased from £101.5m to £108.8m, largely thanks to increased season-ticket prices


Paying fans - Ya can always squeeze a few extra mill outta them.

Two separate quotes from Fuckhead last week regarding the lack of transfers.

"The concerns are down to the fact that I have not moved in the transfer market but that is nothing to do with the Glazers, it is simply because I am not going to pay £50m for a striker who is not worth it."

"We have got the money. There is no question about that, I just don't see that player who can make a difference for us in terms of value or ability."


Obviously non-sense. He's covering, but what's his motive? He's settled enough in his personal life financially, he's won plenty, if anyone should be telling it like it is, it's him. Saying one thing when the report right there in black and white says another just makes him stupid. Surely he realises this.


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 Post subject:
PostPosted: Tue Jan 12, 2010 6:47 pm 
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Timpblue wrote:
we should chuck in a bid of 90mill, then play the pug faced bastard in the reserves
Someone suggested a similar thing when ladyboy was up for sale. They also suggested we make him a waiter in the corporate boxes, but we couldn't do that with Rooney - he'd scare away all the paying guests.

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 Post subject:
PostPosted: Wed Jan 13, 2010 1:04 am 
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Danny's Studs wrote:
Forget £70m, hey'd accept £30m for him


They really wouldn't


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 Post subject:
PostPosted: Wed Jan 13, 2010 2:08 am 
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Kubrick wrote:
That's the interesting part. They made a pre-tax profit of £48.2m in the same year they sold a player for £80m (not exactly something that happens every year). Not to forget the £509.5m still owing.



Paying fans - Ya can always squeeze a few extra mill outta them.

Two separate quotes from Fuckhead last week regarding the lack of transfers.

"The concerns are down to the fact that I have not moved in the transfer market but that is nothing to do with the Glazers, it is simply because I am not going to pay £50m for a striker who is not worth it."

"We have got the money. There is no question about that, I just don't see that player who can make a difference for us in terms of value or ability."


Obviously non-sense. He's covering, but what's his motive? He's settled enough in his personal life financially, he's won plenty, if anyone should be telling it like it is, it's him. Saying one thing when the report right there in black and white says another just makes him stupid. Surely he realises this.


How about 30mill :D

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 Post subject:
PostPosted: Wed Jan 13, 2010 2:27 pm 
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Kubrick wrote:
That's the interesting part. They made a pre-tax profit of £48.2m in the same year they sold a player for £80m (not exactly something that happens every year). Not to forget the £509.5m still owing.



Paying fans - Ya can always squeeze a few extra mill outta them.

Two separate quotes from Fuckhead last week regarding the lack of transfers.

"The concerns are down to the fact that I have not moved in the transfer market but that is nothing to do with the Glazers, it is simply because I am not going to pay £50m for a striker who is not worth it."

"We have got the money. There is no question about that, I just don't see that player who can make a difference for us in terms of value or ability."


Obviously non-sense. He's covering, but what's his motive? He's settled enough in his personal life financially, he's won plenty, if anyone should be telling it like it is, it's him. Saying one thing when the report right there in black and white says another just makes him stupid. Surely he realises this.


nonce-sense surely?

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 Post subject:
PostPosted: Thu Jan 14, 2010 9:01 am 
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Just got sent these.

Build a bonfire, build a bonfire
it will keep you fuckin warm
when your locked out of old trafford
cause the glazers sold your home.



THIS IS HOW IT FEELS TO BE CITY
THIS IS HOW IT FEELS TO BE MANC
THIS IS HOW IT FEELS WHEN YOUR CLUBS NOT RAPED BY A YANK
RAPED BY A YANK
RAPED BY A YANK



U.N.I, T.E.D
Lost Tevez and then Tranny
with a nick nack paddy wack give a dog a bone
next you'll lose your f*ckin home


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 Post subject:
PostPosted: Thu Jan 14, 2010 9:04 am 
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Our Tommy wrote:
Just got sent these.

Build a bonfire, build a bonfire
it will keep you fuckin warm
when your locked out of old trafford
cause the glazers sold your home.



THIS IS HOW IT FEELS TO BE CITY
THIS IS HOW IT FEELS TO BE MANC
THIS IS HOW IT FEELS WHEN YOUR CLUBS NOT RAPED BY A YANK
RAPED BY A YANK
RAPED BY A YANK



U.N.I, T.E.D
Lost Tevez and then Tranny
with a nick nack paddy wack give a dog a bone
next you'll lose your f*ckin home


Hope the Inspirals read that and re-record the song.

(and yes, i know they went on tour 2 years ago and recorded a new album. still doesnt feel like a comeback)

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 Post subject:
PostPosted: Thu Jan 14, 2010 10:19 am 
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Our Tommy wrote:
Just got sent these.

Build a bonfire, build a bonfire
it will keep you fuckin warm
when your locked out of old trafford
cause the glazers sold your home.



THIS IS HOW IT FEELS TO BE CITY
THIS IS HOW IT FEELS TO BE MANC
THIS IS HOW IT FEELS WHEN YOUR CLUBS NOT RAPED BY A YANK
RAPED BY A YANK
RAPED BY A YANK



U.N.I, T.E.D
Lost Tevez and then Tranny
with a nick nack paddy wack give a dog a bone
next you'll lose your f*ckin home


Top one is best. Good.

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PostPosted: Thu Jan 14, 2010 10:26 am 
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http://www.dailymail.co.uk/sport/football/article-1243006/Sold-Trafford-Glazers-ready-sell-Manchester-Uniteds-home-ease-crippling-debt.html

Sold Trafford: Glazers ready to sell Manchester United's home to ease crippling debt

By Ian Ladyman

Manchester United's debt-ridden owners the Glazers have for the first time raised the previously unthinkable prospect of selling Old Trafford.

The American family had steadfastly refused to consider such a controversial move since they plunged the club into debt when taking it into private ownership in 2005.

But in the prospectus sent out to potential investors ahead of a £500million bond issue, the Glazers have warned that ‘the indenture governing the Notes (bonds) will limit our ability to sell or transfer, but not prohibit us from selling or transferring our training ground facilities and our stadium.’
Manchester United

Up for grabs? The Glazers' prospectus reveals they could sell Old Trafford

The prospectus also reveals that:

The club has none of its own money for new players.

United may have to SELL players to service the debt in the future.

The Glazers may have to refinance AGAIN in the near future.


The club has already drawn down a £36m cash advance on an £80m four-year shirt sponsorship deal that doesn’t begin until the summer.

Fears about Old Trafford will concern fans the most, however, with many suspecting that the Glazers intend to sell and then lease back United’s famous stadium and the state-of-the-art training ground at Carrington.

Ever since the Glazers bought their club, United supporters have suspected that the ground would one day be sold or, at the very least, renamed.

In a section of the prospectus headlined ‘risks related to our debt’, investors are warned: ‘Although in the sale or transfer of any of these properties, the transferee will be required to enter into a long-term lease with us to enable us to continue to have substantially the same access to such property as we currently do, if we sell or transfer either or both of these properties, we will no longer control them.’

It is understood the Glazers are required by law to outline all possible risk to potential investors in the document.

It is also the case that the Carrington training centre is much more likely to be sold as the family have deliberately not secured any of their credit facilities against it, as they have with the stadium.

Nevertheless, industry experts last night stressed that using Old Trafford as security in this latest round of refinancing does not offer the stadium any particular protection against its sale in the future.

As regards Carrington — opened 10 years ago — it appears its future is in genuine doubt as the document reveals it ‘may in due course be transferred to a holding company or affiliate of the Parent. In the latter event, we will be granted a lease’.

Figures show that United have not spent a net penny on player transfers for three years. Manager Sir Alex Ferguson is likely to have to dip in to a new £75m credit facility if he is to spend more than he can raise through sales this summer.

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PostPosted: Thu Jan 14, 2010 10:27 am 
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ouch...state of affairs that is.

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 Post subject:
PostPosted: Thu Jan 14, 2010 11:47 am 
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Squidge wrote:
Ever since the Glazers bought their club, United supporters have suspected that the ground would one day be sold or, at the very least, renamed.


I would fucking love it if the swamp was renamed 'The Miller Lite Stadium' or something...


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PostPosted: Thu Jan 14, 2010 12:32 pm 
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I think we should buy it and turn it into a dungeon

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PostPosted: Thu Jan 14, 2010 12:40 pm 
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johnbie1962 wrote:
I think we should buy it and turn it into a dungeon


Sexual submission?


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PostPosted: Thu Jan 14, 2010 12:53 pm 
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Timpblue wrote:
we should chuck in a bid of 90mill, then play the pug faced bastard in the reserves


PLus a new billboard in Manchester "Once a Blue, always a Blue".


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PostPosted: Thu Jan 14, 2010 3:36 pm 
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moses19 wrote:
Sexual submission?


Sexual admission

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