Cosmo
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Registered: 29th Mar 01
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quote:
Originally posted by Jules
Serious question:
Would Cosmo and/or Robbo swap postitions with Man Utd? i.e have their debts but their success?
No!
I consider the position we are in, where we have repayments of about £20-25m a year, but can cover this with profits of £30m+ to be a very bad position. Let alone having to keep rolling over interest repayments of £81m each year.
Its a costly thing to chase the league title, its an even more expensive thing to stay at the top.
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Nath
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Registered: 3rd Apr 02
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Whats more important then? Success or financial stability?
[Edited on 07-05-2008 by Nath]
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Cosmo
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quote:
Originally posted by RyanSxi
Its not as if me looking at the situation and making a reply on a car forum is going to change anything though is it 
Man U have alot of debt, I agree 
In that case I expect no rpelies about anything to do with United from you then - as it wont change anything!
As a fan though, do you see this as something that is fine aslong as you enjoy the club winning things, or does it actually worry you?
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Cosmo
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quote:
Originally posted by Nath
Whats more important then? Success or financial stability?
[Edited on 07-05-2008 by Nath]
To me, the stability of the club. I'd support Liverpool even if they were as bad as Luton, so would rather they exist and win nothing rather than have some success and have a cloud of uncertainty over us.
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Robbo
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Registered: 6th Aug 02
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I have to say, if the results are as quoted then I would be concerned...
Talk of 14+% interest rates, loans to buy players not paid/large liabilities re past transfers, interest payments not being made etc do not point to a well run, financially viable/well managed outfit :S
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RyanSxi
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Registered: 26th Jul 06
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quote:
Originally posted by Cosmo
quote:
Originally posted by RyanSxi
Its not as if me looking at the situation and making a reply on a car forum is going to change anything though is it
Man U have alot of debt, I agree
In that case I expect no rpelies about anything to do with United from you then - as it wont change anything!
As a fan though, do you see this as something that is fine aslong as you enjoy the club winning things, or does it actually worry you?
My replies are opinions tho. And my opinion is that man utd have debt 
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Cosmo
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No opinions of it its a worry, if you're bothered about it, if you can handle it aslong as you win and can ignore it?
Or can you not read the figures with your head in that hole?
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RyanSxi
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Registered: 26th Jul 06
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quote:
Originally posted by Cosmo
No opinions of it its a worry, if you're bothered about it, if you can handle it aslong as you win and can ignore it?
Or can you not read the figures with your head in that hole?
Ive not actually read the figures if im being honest.
United have alot of debt, its not good. Slightly worrying but cenrtainly won't loose sleep over it.
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Cosmo
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Id read them if I were you, you might actually lose sleep then
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Robbo
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Registered: 6th Aug 02
Location: London
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Wheres Sooters gotten to 
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Cosmo
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If only he wasnt banned - this could of been my finest hour 
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Daniel_Corsa
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Registered: 21st Apr 04
Location: Wigton, Cumbria
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Figures are worrying, and if they keep spending and building the debt up it will be worrying!
But not something to loose sleep over IMO, the debt is there everyone knows it, sure the glaziers have an idea of what they are doing!
Stick to running the business and leave the football to Fergie and the team and I'l be happy!
April '06' Corsasport Feature Car  | Aug '08' Total Vauxhall Feature Car | Spring '09' Fast Car Feature Car
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Nath
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Registered: 3rd Apr 02
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quote:
Originally posted by Cosmo
quote:
Originally posted by Nath
Whats more important then? Success or financial stability?
[Edited on 07-05-2008 by Nath]
To me, the stability of the club. I'd support Liverpool even if they were as bad as Luton, so would rather they exist and win nothing rather than have some success and have a cloud of uncertainty over us.
Like the biggest club in the World would ever go bust though. There would be countless people waiting in the shadows to take the reigns if the Glazers wanted out. They'd never go bust.
And LOL at 'some success'. I bet you went back and added 'some' after re-reading it
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Cosmo
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quote:
Originally posted by Nath
Like the biggest club in the World would ever go bust though. There would be countless people waiting in the shadows to take the reigns if the Glazers wanted out. They'd never go bust.
And LOL at 'some success'. I bet you went back and added 'some' after re-reading it
No, I know they'll never go bust, not a chance in hell. But at the same time they arent worth even close to what their debt figures would show either - which is what would be the asking price for the club if it came down to it - and that would probably mean any new buyer having to sell off assets to cover these costs, or paying well over the odds for a club which does only have a limited revenue stream at the end of the day, and probably isnt far off it.
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Marc
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Registered: 11th Aug 02
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quote:
Originally posted by Tom
Not even paying the interest back @ marc always making light of the 'debt' situation
@ Liverpool always finishing 4th
United won't go bust, even Cosmotron has admitted this. As my interest in United is the football I don't really care about their financial situation.
The club makes profit, from a business point of view. If they weren't winning and had these repayments it would be another matter.
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strick206
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Registered: 12th Apr 07
Location: Wigan Drives:Integra DC5
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I didn't think private company's had to publish there accounts
That amount of debt is substantial, but nothing to worry about us going bust with, as that will never happen.
The glazer's have financed the club by debt, which is but like Abramovich, they weren't going to shell out about £700m to buy the club outright, it is easy to buy a small club like chelsea and clear a little debt
The finances won't really bother me tbh, i'm sure the Glazer's know what their doing, and if there long term plan is 2016 that is possibly quite realistic, unlike the break even by 2010 chelsea rubbish
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Nath
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Of course they know what they're doing. There is no such thing as a moronic Billionaire.
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Danny P
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quote:
Originally posted by Nath
Of course they know what they're doing. There is no such thing as a moronic Billionaire.
Ken Bates 
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Nath
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He can't be a Billionaire, surely not?!
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Mad Moe
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Registered: 14th Jun 01
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Mike Ashley?
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Nath
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Registered: 3rd Apr 02
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He's a Geordie.
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Danny P
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quote:
Originally posted by Nath
He can't be a Billionaire, surely not?!
Probably not, but you know what i'm getting at.
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Cosmo
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Registered: 29th Mar 01
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quote:
Originally posted by Marc
The club makes profit, from a business point of view. If they weren't winning and had these repayments it would be another matter.
It doesnt make a profit from any business point of view Infact it makes £58m losses
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Cosmo
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quote:
Originally posted by strick206
That amount of debt is substantial, but nothing to worry about us going bust with, as that will never happen.
The glazer's have financed the club by debt, which is but like Abramovich, they weren't going to shell out about £700m to buy the club outright, it is easy to buy a small club like chelsea and clear a little debt
The finances won't really bother me tbh, i'm sure the Glazer's know what their doing, and if there long term plan is 2016 that is possibly quite realistic, unlike the break even by 2010 chelsea rubbish
I wouldnt say it would NEVER happen, but the chances of it happening are slim. As said the worse case that could actually happen is the hedgefunds/banks forcing them to sell up, and due to the rolled over debt figures the club being WAYYYYYYY over priced - even for the huge amount of revenue it does bring in. So that would mean any buyer coming in and then selling off assets to bring the cost back down to a realistic level.
And its nothing like Abromavich tbh. The club are losing more money than you but if he wanted Roman could throw £100m into the club and it'll be back into a fantastic position again. The Galzers dont have this option - and would also need to throw a lot more than £100m into the club to make it sound again.
And lastly...2016 isnt realistic. Thats 8yrs away, or just under £100m a year to pay off. Thats WITHOUT rolling debt on each year, so means covering atleast £81m this year (will be more now the debt has gone up) aswell as finding the funds for transfers, etc. etc. Its not going to happen.
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