Nath
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Registered: 3rd Apr 02
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I should edit my first post with:
*can open*
*worms everywhere*
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Cosmo
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I wish Sooty was still here, could always count on him to get into an argument over this! 
Marc...do you know if there are any other figures that came out today that will explain it a little more?
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Rob_Quads
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You do have to laugh at the way accounts spin it.
Its quite simple, people want to know how much money a club made
To me a company that took out a loan of 80M did not make any money that year. They made a loss othewise they would not have to take the loan out.
Bit like me each year taking out a 10K loan and then saying this yea I made 5K profit - wohooooo
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Marc
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Ian won't have any of it. I've pleaded for the return of Sooters and confine him to Match Day
Only the story I've posted from the BBC.
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Nath
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£50million from winning the Prem will go down nicely.
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Cosmo
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quote:
Originally posted by Nath
£50million from winning the Prem will go down nicely.
thats not this year though its next, so they'd have to do it again (if they win it this year!)
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Nath
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quote:
Originally posted by Cosmo
quote:
Originally posted by Nath
£50million from winning the Prem will go down nicely.
thats not this year though its next, so they'd have to do it again (if they win it this year!)
That'll do.
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Cosmo
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quote:
Originally posted by Rob_Quads
You do have to laugh at the way accounts spin it.
exactly, half the Utd fans out there (most of London and Far East?) will be like 'See, I knew we'd be making a load of money soon enough, this loan shite is easy!'
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Hammer
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quote:
Originally posted by Cosmo
regardless, when the accounts are released I would like to see what the interest repayments are like. I can only think they are huge as to only give the operating profit.
Like i've said before i have the copies of their accounts from the past 5 years and i understand them perfectly fine, they are in no trouble whatsoever it's not even worth debating over the debt is perfectly managable and is common practice.
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Marc
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quote:
Originally posted by Cosmo
exactly, half the Utd fans out there (most of London and Far East?) will be like 'See, I knew we'd be making a load of money soon enough, this loan shite is easy!'
Don't forget Northern fans 
Its not going to disappear over night, but tell me how its any differant from someone remortgaging a house for a successful business?
Just about every game is a sell out, still in Europe which generates a lot of funds. Granted they missed out on £2.8m but still turned in a small profit. Big sponsorship deal, i can't find global marketing revenue but I'm pretty sure its huge?
If they were floating around the bottom of the Premiership then there may be cause for concern. Its pretty shit what Glazers done but on the whole the club makes money.
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Cosmo
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quote:
Originally posted by Hammer
Like i've said before i have the copies of their accounts from the past 5 years and i understand them perfectly fine, they are in no trouble whatsoever it's not even worth debating over the debt is perfectly managable and is common practice.
ahhh right, so these 5 years show the debt they have no do they...nope as werent under Glazier ownership them. Get these accounts and it will five more of an idea as to how they can handle this debt, but other than past revenues/profit levels the last 5 years are useless.
But whilst your there...the interest repayments are £62m according to what Marc just posted. Out of those 5 years of accounts you have, how many of them could of handled another £62m worth of payments?
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Nath
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FFS what was I thinking when I created this thread! 
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Marc
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I think Cosmotrons writing an essay 
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Cosmo
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quote:
Originally posted by Marc
Its not going to disappear over night, but tell me how its any differant from someone remortgaging a house for a successful business?
Just about every game is a sell out, still in Europe which generates a lot of funds. Granted they missed out on £2.8m but still turned in a small profit. Big sponsorship deal, i can't find global marketing revenue but I'm pretty sure its huge?
You remortgage a house, you have to make sure your income can cover these new monthly costs, correct?
Well United have to cover their monthly (yearly) costs which you posted up before of being around £60m+...but not once have they EVER had this much profit in past years when they had no debt of this size. So where is the money going to come from to produce the extra amount!
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Cosmo
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quote:
Originally posted by Marc
I think Cosmotrons writing an essay
no, I didnt your post
[Edited on 26-01-2007 by Cosmo]
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Nath
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What about the other stuff the Glaziers own? Man Utd on its own might lose money, but what about income from other companies that can subsidise the losses?
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Marc
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Glazer has no debt what so ever and formed a company called Red UK, which I think Manchester United comes under which has the debt. As for his other companies I don't know if they come in to the day to day running/finances of the club.
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Cosmo
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quote:
Originally posted by Nath
What about the other stuff the Glaziers own? Man Utd on its own might lose money, but what about income from other companies that can subsidise the losses?
Yeah, IF those companies are owned outright without debt (I have no idea if this is the case?) then Im sure this could well be one of the ways to cover the debt. From what I have read though this has never been mentioned as being one way in which they will be covering it.
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Hammer
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I refuse to get dragged into this one 
I will however place a bet, if your willing cosmo? that Man U will not go down the tubes, that they will continue to spend more than Liverpool and pay more wages even though they are supposedly doomed.
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Cosmo
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quote:
Originally posted by Marc
Glazer has no debt what so ever and formed a company called Red UK, which I think Manchester United comes under which has the debt. As for his other companies I don't know if they come in to the day to day running/finances of the club.
Yes, the debt is secured on the assets of the club (ground, players, training complex, brand) not Glazier himself. Which is one thing Utd fans werent happy with IIRC as means Glazier has little risk.
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Nath
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quote:
Originally posted by Hammer
I refuse to get dragged into this one
I'm sorry
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Cosmo
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quote:
Originally posted by Hammer
I refuse to get dragged into this one
I will however place a bet, if your willing cosmo? that Man U will not go down the tubes, that they will continue to spend more than Liverpool and pay more wages even though they are supposedly doomed.
Get dragged in, or atleast answer what I asked you about their profit levels over the last 5 years and how much debt they had over this period as Im sure it'll be some interesting figures.
Im not betting that they will go down the tubes as they would always be bailed out IF it did ever get there. But with out coming investment from DIC and all the talk Ive heard Id be willing to bet we'll be matching Utd's spending power in the next few years....without the investment Im sure we never would of, but then again we arent financed by debt.
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Marc
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Annual profit £200m including sponsorship, merchandising and media partners.
Operating profit £49.7m
Shirt sponsorship deal £56.5m over 4 years
Refinancing dropped from £90m to £62m
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Eck
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I sincerely doubt Man Utd will go down the tubes. Yes the figures state otherwise, but I just can't see it tbh
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Cosmo
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quote:
Originally posted by Marc
Annual profit £200m including sponsorship, merchandising and media partners.
Operating profit £49.7m
Shirt sponsorship deal £56.5m over 4 years
Refinancing dropped from £90m to £62m
profit isnt £200m
Your turnover is only 140m which includes all those deals mentioned.
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