http://www.bbc.co.uk/news/business-20327870 Nice to see some of the funds raised through the flotation were used towards the debt.
Looks like were still increasing revenues and with the kit manufacturing deal up soon(?) should be laughing. I'll have to bookmark that the next time certain people bring up the whole "billion pounds in debt" thing again.
Via redcafe. I think he posts on twitter though but I dont use twitter. not 100% sure if that means now or after refinancing the bonds.
He means after refinancing. The current bond issue was for £500 million of bonds, when the club had revenue of around £250 million. If we are refinancing £360 million of bonds with revenue of £330 million of revenue we'll get a much better interest rate. The debt is not the biggest thing about these figures tho'. The biggest thing is that commercial revenue for the quarter was up by around 25%. If we keep that up for the whole year, we'd have commercial revenues of around £150 million which would put us close to being on a par with Real commercially. Say what you will about the Glazers, they have certainly sorted the commercial side of the club out in a way the plc never even dreamed of! Happy days
Swarbs I do not think that the glazers did all this out of love for the club. This club has been an absolute gold mine for them. They borrowed to buy the club and now it is almost fully theirs with decreasing loans. Incredible returns on very little investment..
They probably didn't out of love of the club, but what's best for them is to make us more profitable commercially so they've done that. They know in order to keep making money they have to invest to keep our team/commodities relevant, or we'll stop making money. I don't think the Glazers are here to leech money off the club, they're here to make money off a profitable business.
All that success, all those trophies and all those plastics and still £359m in debt! How is this possible?
indeed all they need to keep this 1M profit is simply win CL every year, and sell more players than buy
hhhh ignorance at its best we kept succeeding despite spending less than spurs or Liverpool trying to clear this stupid debt from the glazers ..reducing our debts while other clubs piling them up including Real and barca only a big club lie UTD can afford .. sure not a mickey mouse club like Chelsea pumped by artificial air
Course they didn't. But the only way to make incredible returns with very little investment is to buy an asset that is undervalued and not being run well and run it much better. Regardless of their motives, in my opinion the club is being run much better now than it was back in 2004, and the results on the pitch have shown this. Besides which, how many owners do you think actually do stuff out of love of the club? Do you think Abramovich spends bags of money out of love for Chelsea, a club he only bought cos they were in the CL (the ultimate gloryhunter?), or just cos he gets kicks out of owning a successful sports team? Do you think Mansour et al love City, or love the publicity they are generating for Abu Dhabi and Etihad Airways by rebranding just about every aspect of the club they can get away with? Unfortunately, owners who invest in their club out of love can no longer compete with those who invest in their club for kicks or for publicity. Just ask Blackburn, Wigan and Wolves.
I would take issue with you on that. I remember very well at the time of the takeover that the club was free of debt, was successful, had been winning trophies every year and doing well for shareholders by making healthy profits. The Glazers worked out that annual profits generated by the club were such that they more than covered the interest on massive loans they would take to buy the club. In fact the club was so successful that the income covered more than the interest And allowed for capital repayment so that debt is now reduced. The difference with abramovich and the City Abu Dhabi sheik is that the latter did not have to load the club with debt. It was the opposite: they pumped money into the clubs like Armstrong And Ben Johnson would pump Epo and steroids into their bodies. Opposite to what had been happening to United. It is only though careful purchasing and dealing (Ronaldo helped with his sale!) by SAF that the club remained at the top. If we had any other manager e.g a muppet like. KKK we would have been stuffed. So with the help of loans taken on the clubs assets the Glazers managed to increase their investment several fold, with little risk to their own fortune.
