Manchester United owner's debts hit £1.1bn

  • Thread starter Thread starter Mike.
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themadsheep2001 said:
i dont expect people to feel sorry for us. i just get ****** off by people who just post it all over the thread and troll. its not constructive in anyway

---------- Post added at 01:01 AM ---------- Previous post was at 01:00 AM ----------
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it annoys me even when it aint targetted to chelsea there is just no point in it
 
I will grudgingly accept it's sad to see any club in huge debt, even Man Utd. I shoud know being a Leeds fan I've had to endure my club being in huge debts (nothing compared to this) but almost go out of business. Something has to be done to stop clubs ending up with such huge debts. I also think it's a bit unfair how Man Utd can have that much debt but other teams can have so little (Preston, under £1M?) but still face winding up orders. Something needs to be done.
 
The worrying thing is that if the Glazers can't pay their PIK loans when they become due (PIKs are basically loans where you pay the interest and the amount you've loaned all back at the same time at the end) then Manchester United becomes owned by, erm, the equivalents of companies who put on adverts around the Jeremy Kyle show offering to buy your house for a packet of nuts and some magic beans. The Glazers have already messed up because they missed a target on the relative size of the debt at Manchester United and so now their PIKs are going to cost more (the PIK debt now really is building up interest at a rate similar to a credit card).

So obviously that ain't going to happen because the Glazers won't throw away their sole profitable business, which means that Uncle Malc needs to find the money to pay for the PIKs from somewhere. And it ain't looking likely it's coming from the Tampa Bay Bucs, and it ain't going to be coming from their shopping centres, which really only leaves Manchester United for him to find the money.

As madsheep says, without the debt and the Glazers, Manchester United could be uncatchable (although obviously dividends to shareholders would have to be factored in for any owner). And at the very least, more normal fans from, say, Stretford or Salford could afford to pay for a ticket because ticket prices wouldn't be ramped up quite so much.
 
Jak 16 said:
I will grudgingly accept it's sad to see any club in huge debt, even Man Utd. I shoud know being a Leeds fan I've had to endure my club being in huge debts (nothing compared to this) but almost go out of business. Something has to be done to stop clubs ending up with such huge debts. I also think it's a bit unfair how Man Utd can have that much debt but other teams can have so little (Preston, under £1M?) but still face winding up orders. Something needs to be done.
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those teams as far as i know failed to pay the tax man. we can make our payments, those clubs couldnt = winding up order
 
Hi i just read through this and thought what would happen if all of the glazers died without paying up? Would all the debt fall onto the club?
 
Man united will not go into administration. Having said that the Glazziers have ****** united with their debit. The glazziers will eventually sell but they will sell for a price that will suit them (which may put united into trouble) They know what there product is worth and will try an get close to every penny for their product. They are ruthless buinessmen thats all they are casue they know **** all about football.
 
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