GLAZERS READY TO SELL OLD TRAFFORD

[readingbedding]

The Glazers have admitted that they could sell Old Trafford to raise money after leading Manchester United into £700m of debt.

[TheMaraudingDog]

Yeah its all over the news. You got anything to add to the subject or is your brain only capable of a cut and paste?

[readingbedding]

Yeehaw!

[Thaumagurist*]

.

[readingbedding]

I don't know.

How much could they sell Rooney for?

[TheMaraudingDog]

The rumour in the press is £70m but I think of he was to leave it would be around £50m. All depends on how much cash they casn raise from the bond issue and how short / desperate they are on repayment of the current PIK and hedge fund payments which if we're honest nobody really knows.

How much do you think United could get for Rooney?

[TBM]

So if they sold Old Trafford, would Utd remain there or are they simply just gonna sell the naming rights?!

[Wax Jacket]

that Commonwealth games stadium is still there, does Manchester really need two big grounds?

[TheMaraudingDog]

So if they sold Old Trafford, would Utd remain there or are they simply just gonna sell the naming rights?!

It would be sold and leased back. Its what you do when you're f*cking skint. Wouldn't suprise me if the naming rights also go.

Shit hitting the fan.

I'd be interested to know what ReadingBedding's thoughts are.

[TBM]

Why are Utd so skint though? - surely one of the biggest clubs in the world shouldn't be 700m in debt

[TheMaraudingDog]

Why are Utd so skint though? - surely one of the biggest clubs in the world shouldn't be 700m in debt

They were dumped on big time by the Glazer family who bought United all on credit and then lumped the credit against the club. There are various numbers that get bumped around but United are paying anywhere from £60m to £80m in just interest each year. As big as United are they don't make enough profit to cover that so over the last 4 years the loss keeps building and building with none of the initial credit actually being paid off.

Not sure who did the Glazer's maths before the takeover but they were a long way off with their figures.

The most worrying points are:

Despite getting £80m for Ronaldo United only made a profit of £48m.

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.

[readingbedding]

Their training ground will be the first to be sold.

[Barry the bird boggler]

I believe United are 700 million in debt because the Glazers managed to take out a loan to buy the club based against its expected future revenue. If Man U don't win things and that revenue drops off/fails to materialise they are going to be up **** creek without a paddle.

The previous owners of both ManU and Liverpool really dropped their clubs in it when selling them.

How about moving in with Man City at Eastlands....

[Ark Royal]

Why are Utd so skint though? - surely one of the biggest clubs in the world shouldn't be 700m in debt

They were dumped on big time by the Glazer family who bought United all on credit and then lumped the credit against the club. There are various numbers that get bumped around but United are paying anywhere from £60m to £80m in just interest each year. As big as United are they don't make enough profit to cover that so over the last 4 years the loss keeps building and building with none of the initial credit actually being paid off.

Not sure who did the Glazer's maths before the takeover but they were a long way off with their figures.

The most worrying points are:

Despite getting £80m for Ronaldo United only made a profit of £48m.

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.

It surely is the beginning of the end for The Premiership/Sky cash spunkfest. It cannot go on like this for much longer.

[Comfortably Numb]

Is this Ferguson's last season, or is that next? The bubble is well and truely bursting.

[Barry the bird boggler]

Why are Utd so skint though? - surely one of the biggest clubs in the world shouldn't be 700m in debt

They were dumped on big time by the Glazer family who bought United all on credit and then lumped the credit against the club. There are various numbers that get bumped around but United are paying anywhere from £60m to £80m in just interest each year. As big as United are they don't make enough profit to cover that so over the last 4 years the loss keeps building and building with none of the initial credit actually being paid off.

Not sure who did the Glazer's maths before the takeover but they were a long way off with their figures.

The most worrying points are:

Despite getting £80m for Ronaldo United only made a profit of £48m.

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.

It surely is the beginning of the end for The Premiership/Sky cash spunkfest. It cannot go on like this for much longer.

In addition one has to say that any incoming chairman/chairmen that have to structure/create debts like that in order to buy a club should fail whatever financial qualification is required by the sports governing body in this country and if that prevents big clubs from surviving then tough bun.

[TheMaraudingDog]

Their training ground will be the first to be sold.

Yeah been all over the press again. What are YOUR thoughts on all this?

[Comfortably Numb]

So what could United be worth? I can't see many people wanting to pay for the club, and then take on £700+m of debts?

[Wax Jacket]

I don't want to see this happen at all really, but if it's happening to Utd then it sends out a pretty hefty warning signal to all the other clubs.

How are the Tampa Bay Bucs finances?

[TBM]

Maybe they could speak to Real Madrid for advice about how to write off a debt