Fergie loses sight of financial reality… and title

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Fergie loses sight of financial reality… and title

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Started 1 year ago by Ed
Latest reply from John

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John
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Posted by unregistered user: John
Why do you consider Glazers debts anyones business but theirs?

Man United are still the biggest selling sports brand in the world.

Shouldn’t you be having a pop at the greedy United fans who sold their United shares to them for profit?

Didn’t they put money before United?

Why do people feel they have the right to question the Glazers about what they do with their own business?

The indebtedness will only matter when it effects performance on the pitch.

Under the Glazers United have enjoyed more success than ever.

The Glazers doubled Fergy’s salary,they paid bonuses to all their staff at Man United of somewhere around 8 percent.

I can understand people being frustrated watching the Glazers raise the money to buy the club,and then making the club pay off the debt.

But there simply is no proof as yet that the Glazers are happy to settle for mediocrity in order to save cash.There has been no such compromise a far a I can see.

What is really getting to people is the fact that they see city spending big amounts,but when you consider City’s best player was Joey Barton,they had to spend to improve.

Any team that can amass 89 points in this league is not inferior to anyone,Arsenal were 3rd with 70 points.

I disagree success was achieved inspite of the Glazers,they made the money available for purchases,and have stated they will make funds available but will not pay top money for mediocre players.

Kompany is I think a great player,he didn’t cost a lot and as Hugh’s brought him to city you could argue Mancini is living off Hughes’s signings.

I do understand fans having a go at the Glazers,but I feel their anger is misguided as they have actually presided over one of Uniteds most successful periods ever.

Posted 12 months ago #
John
Member

Posted by unregistered user: John
Just a small point here Squigs,you say United have gone from the richest club in the world to the most indebted.

That begs the question then when they were the richest,why did they not enjoy the same level of success they have recently under the Glazers?

The reason they were the richest was because they went public creating shares for fans for the public to invest in.
I have to say lots of that cash was wasted on poor purchases,Fergy has made mistakes in the transfer market.

Also we have to accept that having infinite amounts of money for the transfer market does not guarantee the players we want will indeed come.

I find the Glazers are good owners,they have looked for sponsorship in areas previous owners would never have dreamed of looking.Not all the money raised has been through results on the pitch,sponsorship deals have also brought in cash.

I expect United to do well under the Glazers, they are smart and I for one like their policy of not being prepared to over pay for players.
Results on the pitch will always be a priority for them, as they know sponsors and merchandise sales can soon evaporate as success in competions wanes.

The Future is Red!!!! It’s just hard to convince those who see money and expensive signings as the only way forward.

Posted 12 months ago #
squigs
Member

Will go through this one by one.

When they use the club to leverage these debts and to pay the debts I consider the debts part of the club.

They are not the biggest selling brand in football. Turnover is less then either Real or Barcelona and commercial income is less then Bayern as well as the big two in Spain.

Surely if they are such a big commercial draw then they should be able to compete with top clubs for the best players.

Shareholders United were against the sale of shares, but remember that the % of actual fans who held shares was miniscule. They had no influence.

The Glazers have used not just to pay club debts but other debts amongst it's buisness group, this paired with members of the Glazer family taking out directors loans is a cause of concern at a large company and represents poor corporate governance.

The Glazers are the lowest spending earners in the NFL and have accepted mediocrity for a while now. When you see some of the carthorses getting a game at United it's apparent they won't pay top dollar.

The money made available for purchases and net spend has been much lower and everyone knows that. £25 mil net spend a year was pledged and it hasn't happened.

Other clubs are going to the wall of lower debts and United are not too big to fail.

Posted 12 months ago #
John
Member

Posted by unregistered user: John
The debts

The majority of the cash used by Glazer to purchase Manchester United came in the form of loans, much of which were secured against the club’s assets, incurring interest payments of over £60 million per annum. The remainder came in the form of PIK loans (payment in kind loans), which were later sold to hedge funds. Manchester United is not liable for the PIKs. The PIKs are held by Red Football Joint Venture Ltd and are secured on that company’s shares in Red Football Ltd (and thus the club). If they are not repaid by 2017, the Glazers will almost certainly lose all their shares in Red Football Ltd (and the club) to hedge funds. The interest on these loans rolls up at 14.25% per annum. Despite this, the Glazers did not pay down any of the PIK loans in the first five years they owned the club. In January 2010, the club carried out a successful £500 million bond issue, and as of March 2010, the PIKs stood at around £207 million.[1]

I think you will find the Forbes list still has United as top selling worldwide.

Competion for top players:United have long said they believe in a strong youth system,as evidenced by the successful 1992 crop of players.Prefering to mix experience and youth.But still having a couple of big players obtained through the open market.It makes good business sense to home grow quality players for several reasons.Cost is cheaper,and usually there is resale value for any players you decide not to keep.Buying in the open market is risky and expensive as players do not always live up to their high values.

The Glazers take out money to finance pik loans.They are also allowed to take 50 percent of net profit.

As I said before,under the Glazers United have had their most successful years ever.

As an aside and I don’t mean to try and be insulting when I say this,but why is it every body’s business how United finance themselves. United is a privately owned business,so why do people think they are entitled to know all about how the Glazers finance their business?

United could fail that’s true,but that’s also all the ,more insentive for the Glazers to make sure they have enough talent at the club to enable the team to compete with the best.

I feel on this years showing alone,given all the injuries suffered ,United have done very well indeed.

As I keep saying 89 points and playing with a make shift side for a lot of the season is no mean feat.I expect improvement from the younger players and coupled with new signings United will be very much league leaders for the coming season.

Can we be sure the Arab owners will not vacate the council house and all its dwellers, if the mood should so take them?There are no certainties in life.

Posted 12 months ago #
John
Member

Posted by unregistered user: John
e of us who follow the collision of celebrity, sports and business are doomed to an endless stream of statistics. Tiger Woods earned $87 million from endorsements last year, $48 million more than Phil Mickelson, golf’s next-highest earner. Manchester United’s merchandise revenue was $23.6 million, more than any other team in England’s Premiership. Walt Disney’s ESPN charges an average monthly subscription fee of $3.26,

Posted 12 months ago #
Calvino
Member

The Glazers have nowt to do with us not winning the title last season. Alf can bleat all day long about them if he wishes. John. You too need to leave that alone.

I have maintained for a while now that our team is not properly set out and it cost us in the key games that cost us the title. The manager was forced to get Scholes out of retirement to supplement the midfield cos two very good reasons: we were short of quality and experienced players in midfield as soon as lost Fletcher and Anderson added by the constant injuries Cleverly was getting; secondly, he does not like shopping in the transfer window so it seemed ok to get Scholes back. What I have quarreled with for years is playing the very same Scholes alongside Carrick in a midfield two. That stubbornness to keep that formation in key games and against teams that line up with more numbers in midfield cost us against Everton.

At the time Scholes was brought back we could have played with three central midfielders more often with Carrick and Pogba alongside him. That would have made us have three naturals in that position. That would have also helped us retain possession more and not make it so easy to get through to our defence as happened in many games. Everton battered us from the start of the game to the end because they had more men in midfield and they were well deserving of their point. We are so easy to play against.

It is a huge testament to the individual qualities of the players we have that we won so many games and so many points with so little coaching/tactical input from the bench. A major reason why I have no time for people who say this was an average United team. These players deserve to have won more with better help. I play back that Everton game back in my mind over and over again and I just could not believe what I was watching. Fellaini had the freedom of Manchester in the role behind our midfielders and just infront of our defenders. Amazingly amateurish from us after so many years. Their wide players kept coming in to supplement the numbers and pushed their full backs well on Hibbert made TWO goals for God's sake!! And each time he had the time and space to measure a cross because his frontman had dragged us all over the shop. Time and time again it was happening. It was disgraceful.

The tactical ineptitude had NOTHING to do with the Glazers. If we buy Kagawa/Hazard/Senijder or whatever midfielders some of you have in your fantasy leagues, Sir Alex and Phelan will either play them wide or in a midfield duo and those qualities you are all drooling over now will be negated and lost!!

Dear Sir Alex Ferguson, the 4-4-2 formation with two strikers and two central midfielders is DEAD. Please stop playing this. Thank you very much sir. Regards,
A Loyal Fan.

Posted 12 months ago #
John
Member

Posted by unregistered user: John
I would agree with most of that,Everton was the day they gifted the league to City.

The forwards scored 4 goals ….so they did their bit.

8 minutes left 4 -2 up and for me lack of concentration and inexperience cost us the goals.

But as I keep saying, 89 points in this league with nearest rivals 19 points adrift in 3rd is not the result of an inept side.

Personally I don’t think there is much wrong at Old Trafford ,a couple of new signings and that should do the trick.

I still feel the lads were desperately unlucky to lose out on goal difference this year.City players can’t sit back on their laurels safe in the knowledge they finished a few points clear of their nearest rivals.

They got the title by the narrowist of margins, and must feel for the money they spent they didn’t have a resounding runaway title win.

I hope next season the lads will have learnt their lesson and will keep their concentration until the final whistle goes.I am sure they won’t want another title thrown away.

Posted 12 months ago #
squigs
Member

I think you will find the Forbes list still has United as top selling worldwide.

It also claims that Manchester United have 330 million fans world wide and values the club on an EBITDA of 13, it's a over valuation and something which I would be loathe to take seriously.

remainder came in the form of PIK loans (payment in kind loans), which were later sold to hedge funds. Manchester United is not liable for the PIKs. The PIKs are held by Red Football Joint Venture Ltd and are secured on that company’s shares in Red Football Ltd (and thus the club). If they are not repaid by 2017, the Glazers will almost certainly lose all their shares in Red Football Ltd (and the club) to hedge funds.

Red Football LTD is 100% owned by the Glazer family trust and it's only stream of income is Manchester United. Thus successful repayment would by any reasonable person be considered material to the future of Manchester United

Posted 12 months ago #
John
Member

Posted by unregistered user: John
Yes of course,but that is the very reason the Glazer family will want to maintain the results they have had over recent years.

But don’t forget the Quatari Royal family are still very interested in purchasing United.

I am sure also should the club for any reason be put up for sale,Murdock was another would be purchaser,so I wouldn’t worry about United’s future at the moment.

Posted 12 months ago #

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