A lesson from United?

[Bruce Wayne]

£250 odd million turnover
£66 million profit
£68 million debt repayments each year because of the Glazer family.

So despite being the biggest profit making machine in football, despite Ferguson sweeping all before him on the field, the club lose something like £20 million a year, purely because of the new 'investors'.

Beware who you get into bed with is I think the motto.

 

[Goat]

Yes but in x amount of years they will be debt free. Then the Glazers sit back and have £66m profit a year to look forward to.

 

[Bruce Wayne]

Their debt is rising, not falling.

When they bought the club they borrowed around £556 million. Now the debt is just shy of £700m.

 

[The Esk]

£250 odd million turnover
£66 million profit
£68 million debt repayments each year because of the Glazer family.

So despite being the biggest profit making machine in football, despite Ferguson sweeping all before him on the field, the club lose something like £20 million a year, purely because of the new 'investors'.

Beware who you get into bed with is I think the motto.

It's actually worse than that Bruce

There was no debt repayment, debt actually increased by £33 million to £699 M.

Interest payments totaled £68 million.

Goodwill writedown of £35million, bringing the total loss of £66.2 million

You are correct in saying be careful whom you get in bed with. The irony of this is that if the Glazer's had been able to finance the purchase without debt (ie were wealthy enough), the figures would be highly respectable.

Next years figures could look much worse as the Champions League will not generate as much cash, and the exceptional player trading profit of £21 million will likely turn to a loss in the next set of accounts.

Expect another hike in season ticket prices at Old Trafford!

 

[teppic]

is that 2 million?

i remember you posting a while back saying it did not matter that united were in huge debt as long as the turnover was so huge?

 

[Bruce Wayne]

Well in theory their profit is paying for the interest on their loan. But it's far from ideal that such a profitable company should have money problems.

 

[neville]

It's actually worse than that Bruce

There was no debt repayment, debt actually increased by £33 million to £699 M.

Interest payments totaled £68 million.

Goodwill writedown of £35million, bringing the total loss of £66.2 million

You are correct in saying be careful whom you get in bed with. The irony of this is that if the Glazer's had been able to finance the purchase without debt (ie were wealthy enough), the figures would be highly respectable.

Next years figures could look much worse as the Champions League will not generate as much cash, and the exceptional player trading profit of £21 million will likely turn to a loss in the next set of accounts.

Expect another hike in season ticket prices at Old Trafford!

Sadly for me your correct

 

[Rook]

The Glazers have collateral. The Tampa Bay NFL franchise is worth anywhere from $600M-1 billion. Man Utd won't be in the poor house anytime soon. I don't think they've been bad owners. They let the football people run the club and all the while they've splashed out quite a bit of money on transfers.

Plus Ronaldo is netting 75M over the summer. They can write off the 20M loss and have 55M to spend.

 

[Bruce Wayne]

'They' havn't splashed anything on transfers. Any money spent by Ferguson has been from operating profits. Considering they borrowed to buy the club (borrowing which is now on the clubs books) I dare say they've spent very little indeed of their own money.

 

[chicoazul]

This deserves a closer look.

There hasnt been a paranoid anti-Bill outburst on here for a while. Strange that.

 

[Bruce Wayne]

This deserves a closer look.

There hasnt been a paranoid anti-Bill outburst on here for a while. Strange that.

Chico out.

 

[Robert Jarvis]

A story in the papers today stated that United have to pay over the next 9 years £1.1 billion.

 

[sotnas]

Reality check, huh guys?

We don't need to sell our souls to be successful.

We are a traditional football club who must find the way through in the old fashioned way of buying and selling players and, hopefully, some silverware and prize money along the way.

 

[The Esk]

It's actually worse than that Bruce

There was no debt repayment, debt actually increased by £33 million to £699 M.

Interest payments totaled £68 million.

Goodwill writedown of £35million, bringing the total loss of £66.2 million

You are correct in saying be careful whom you get in bed with. The irony of this is that if the Glazer's had been able to finance the purchase without debt (ie were wealthy enough), the figures would be highly respectable.

Next years figures could look much worse as the Champions League will not generate as much cash, and the exceptional player trading profit of £21 million will likely turn to a loss in the next set of accounts.

Expect another hike in season ticket prices at Old Trafford!

It's happened!

Manchester United confirm they will increase season ticket prices by £1 per game | Football | guardian.co.uk