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Author Man Utd to pay off debt - Nic and Cosmo rejoice
Russ
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16th Nov 10 at 08:30   View User's Profile U2U Member Reply With Quote
http://news.bbc.co.uk/sport1/hi/football/teams/m/man_utd/9192771.stm


some of it anyway
Cosmo
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16th Nov 10 at 08:37   View User's Profile U2U Member Reply With Quote
Money out of the club to pay them off, nice
mwg
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16th Nov 10 at 09:50   View User's Profile U2U Member Reply With Quote
It is not yet clear how the Glazer family were able to raise the money to pay off the PIK (payment in kind) loans but significantly it is not with funds from the club.
Cosmo
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16th Nov 10 at 09:54   View User's Profile U2U Member Reply With Quote
That's changed since I read it as was on about taking £70m out of the club.

I'd be very surprised if they have raised the £200m+ without involving the club somehow.
Terry12
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16th Nov 10 at 10:01   View User's Profile U2U Member Reply With Quote
Even if the club is liable for this £220M they're paying off it will still be better rates than the PIKs.
Cosmo
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16th Nov 10 at 10:02   View User's Profile U2U Member Reply With Quote
I'd be more concerned about them taking cash away from player purchases rather than the rates tbh.
Terry12
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16th Nov 10 at 10:06   View User's Profile U2U Member Reply With Quote
quote:
Originally posted by Cosmo
I'd be more concerned about them taking cash away from player purchases rather than the rates tbh.


Rumours are they've taken out lower rate finance to pay the PIKs. Not taken directly from the club funds meaning lower interest rates and less money out of the club in the long run.

[Edited on 16-11-2010 by Terry12]
Marc
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16th Nov 10 at 10:09   View User's Profile U2U Member Reply With Quote
Does this mean the end of Marc, Nathan, Cosmo Big Fat Gayer thread titles?
mwg
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16th Nov 10 at 10:18   View User's Profile U2U Member Reply With Quote
quote:
Originally posted by Terry12
quote:
Originally posted by Cosmo
I'd be more concerned about them taking cash away from player purchases rather than the rates tbh.


Rumours are they've taken out lower rate finance to pay the PIKs. Not taken directly from the club funds meaning lower interest rates and less money out of the club in the long run.

[Edited on 16-11-2010 by Terry12]


which leaves more money for transfers
Cosmo
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16th Nov 10 at 10:58   View User's Profile U2U Member Reply With Quote
Well it doesn't really as you're not even covering the interest on the current loans (minus PIK which just rolled up the interest).
Cosmo
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16th Nov 10 at 10:59   View User's Profile U2U Member Reply With Quote
quote:
Originally posted by Marc
Does this mean the end of Marc, Nathan, Cosmo Big Fat Gayer thread titles?


£500m+ debt still so no!
Nath
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16th Nov 10 at 11:01   View User's Profile U2U Member Reply With Quote
DOOM AND GLOOM
Ben D
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16th Nov 10 at 11:04   View User's Profile U2U Member Reply With Quote
quote:
Originally posted by Cosmo
I'd be more concerned about them taking cash away from player purchases rather than the rates tbh.


I thought we didn't have any money for player purchases?
mwg
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16th Nov 10 at 11:05   View User's Profile U2U Member Reply With Quote
Like I have said all along it'll be reet. We won't be doing a Liverpool or worse.
Nath
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16th Nov 10 at 11:06   View User's Profile U2U Member Reply With Quote
quote:
Originally posted by Ben D
quote:
Originally posted by Cosmo
I'd be more concerned about them taking cash away from player purchases rather than the rates tbh.


I thought we didn't have any money for player purchases?


No silly, Rooney signed a new contract just so United can cash in on him. Derrrrr, keep up Ben.
Ojc
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16th Nov 10 at 11:09   View User's Profile U2U Member Reply With Quote
Man Utd are corrupt, I believe this money has been raised from Somali pirates kidnapping British citizens.
Marc
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16th Nov 10 at 11:14   View User's Profile U2U Member Reply With Quote
quote:
Originally posted by Cosmo
quote:
Originally posted by Marc
Does this mean the end of Marc, Nathan, Cosmo Big Fat Gayer thread titles?


£500m+ debt still so no!

Woop!
mwg
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16th Nov 10 at 11:37   View User's Profile U2U Member Reply With Quote
http://www.bbc.co.uk/blogs/davidbond/2010/11/loan_repayments_good_news_for.html
Marc
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16th Nov 10 at 12:03   View User's Profile U2U Member Reply With Quote
Anyone else think this was a bit mis leading!! We still have an overall debt off 500m. 200m is nothing on a debt this size!
Cosmo
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16th Nov 10 at 12:10   View User's Profile U2U Member Reply With Quote
quote:
Originally posted by mwg
Like I have said all along it'll be reet. We won't be doing a Liverpool or worse.


Doing a Liverpool? Being bought by owners who don't put debt on the club?
mwg
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16th Nov 10 at 12:20   View User's Profile U2U Member Reply With Quote
Becoming a non top 4 side
Russ
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16th Nov 10 at 12:29   View User's Profile U2U Member Reply With Quote
quote:
Originally posted by Cosmo
That's changed since I read it as was on about taking £70m out of the club.
100% said that when i posted it, must've changed
Nath
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16th Nov 10 at 12:32   View User's Profile U2U Member Reply With Quote
quote:
Originally posted by mwg
Becoming shit


Don't hold back mate.
Cosmo
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16th Nov 10 at 12:40   View User's Profile U2U Member Reply With Quote
quote:
Originally posted by Nath
quote:
Originally posted by mwg
Becoming Luton


Don't hold back mate.


Harsh
Nath
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16th Nov 10 at 13:07   View User's Profile U2U Member Reply With Quote
Debt free aint so bad tbh.

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