Gill relaxed on Man Utd finances

[BBC Sport]

Manchester United chief executive David Gill says he is "comfortable" with the club's finances, including debt levels.

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[sunilvk7]

I think Debts are reduced to somewhere between 450-500 million. Worst part is Glazers are using club money to pay off the debts.

Gill show us what you got. Spend in the summer so that everyone believe there is money left for transfers.

 

[CtPauley]

I think Debts are reduced to somewhere between 450-500 million. Worst part is Glazers are using club money to pay off the debts.

Gill show us what you got. Spend in the summer so that everyone believe there is money left for transfers.

I didn't think the Glazers were using the clubs money. If I remember correctly they can take around 70M out of the club to help pay off the debt but have chosen not to.

 

[donkarlito]

Comfortable doesnt sound convincing to me

 

[Mike.]

I think Debts are reduced to somewhere between 450-500 million. Worst part is Glazers are using club money to pay off the debts.

Gill show us what you got. Spend in the summer so that everyone believe there is money left for transfers.

http://andersred.blogspot.com/2011/02/uniteds-q2-2011-results-running-on-one.html

take a read mate

 

[W4FC B3N]

I wish I could feel comfortable with debt.

 

[sunilvk7]

http://andersred.blogspot.com/2011/02/uniteds-q2-2011-results-running-on-one.html

take a read mate

Thanks for the link.

The buyback and a small fall in the pound vs. the dollar left the company with £489.4m of gross debt. On the asset side, the club has £134.5m of cash in the bank. Regular readers will know that this is effectively the money received from selling Ronaldo in 2009 (£80m) and the pre-payment of the Aon sponsorship in 2009 (£35.9m) and the cash in the bank at the end of 2007/08 prior to these events. These windfalls remain unspent.

Key points. So debt is 490 Million pounds, and has reduced drastically. And 100 million plus and sure we can spend when needed. Hopefully this summer.

Oh still few things remain unanswered

There was (unsurprisingly) no comment on the PIK repayment in November or the move of the holding company to Delaware. These are matters outside the scope of these results. No explanation of where the Glazers suddenly found £249.1m to repay the PIKs has been forthcoming of course.

 

[Mike.]

Thanks for the link.


Key points. So debt is 490 Million pounds, and has reduced drastically. And 100 million plus and sure we can spend when needed. Hopefully this summer.

Oh still few things remain unanswered

still plenty of questions, but given the state some owners have put their clubs in, things could be worse

 

[sunilvk7]

still plenty of questions, but given the state some owners have put their clubs in, things could be worse

Yeah, things could have got lot worse. Glazers are good business men, no doubt about that, my and many Mancs concern was putting club in debt and using club money. Looks like they are not using club money, which looks good.

And i seriously lol at people who have no idea about our finance, still comment as if we are about to fold. Not long before we will be debt free.

And also one good thing is Glazers never interrupt with team management and leave it all to SAF. Which is very good idea. They just concentrate on business part of the club.