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Utd's losses


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I can't stand Ferguson and a lot of their fans, but they are a great North West footballing institution. It'll give us all something to moan about when the Premier League/FA start bending rules all over the place to dig them out of the massive pile of debt fuelled s*** they've got themselves in. Rather than being lied to and hoodwinked like we were, they went in to it with open eyes.

 

Once slur goes, I think they'll really struggle.

Edited by Edinjapan
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They're obviously behind us in terms of trophies, but along with Liverpool they're probably the other most famous name in world football from the UK. We're both from the North West of England.

 

What did you think I meant?

 

You are calling them great. I couldn't do that, i'd leave that to other people.

 

If they ceased to exist i'd crack open the champagne, that sort of institution.

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I know what you mean. Part of me would take great glee in seeing them implode. I think a lot of that comes from Ferguson, because he's such a horrible s***house. My Dad's generation didn't have the same hatred.

 

Part of it is being from Warrington, right in the middle of the rivalry. There are a few decent Utd fans, sensible and not complete morons. They're few and far between mind.

 

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Part of it is being from Warrington, right in the middle of the rivalry. There are a few decent Utd fans, sensible and not complete morons. They're few and far between mind.

That made me hate them even more. I bumped into the c*nts every day, back in the days when 'we've got more fans than you' was all they had. My best mate's a manc...so I'd pretend to by sympathetic if they went out of business, but I would party for months.

 

(then I didn't hate Everton as much as I do now. Their supporters appeared from nowhere in 1984.)

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comicalali.jpg

 

Man United under no pressure to sell players despite losses, insists Gill

 

Published 15:10 08/10/10

 

Manchester United chief executive David Gill insists there is no pressure to sell star players such as Wayne Rooney despite the club making losses of £83.6million.

 

Gill said the club would still prefer to have "Cristiano Ronaldo on the pitch than £80million in the bank" as proof of their desire to keep players.

 

Although United's group operating profit topped £100.7million, after player-related costs, interest payments and a number of expensive one-off costs related to the bond issue, overall there was a record loss for the club.

 

Gill said the accounts released today were "very good" with excellent revenues, and said there should be no concern about United going down the same road as Liverpool, whose American co-owners have struggled to finance their ownership.

 

The United chief executive did admit the figures could be confusing to fans who saw a record turnover of £286million for the year ending June 2010 contrasting with the record losses of £83.6million.

 

For the previous year the club had returned a net profit of £48.2million thanks to the sale of Ronaldo, but Gill said the Glazer family who own United had not pushed for that move, nor would they for any other player. He added that United's balance sheet includes £165million remaining in the bank if Sir Alex Ferguson wants to buy new players.

 

In an interview with Press Association Sport, Gill said: "We are not a club that needs to sell. We have money in the bank so there is zero pressure on that, no pressure at all to sell any star player whether it is Wayne Rooney or X,Y or Z. I can categorically say that.

 

"There was no desire at all from anyone at the club to sell Cristiano - he wanted to go and as a result we managed to extract a world record fee.

 

"These philosophy is to retain and attract the best players. We have £165million in the bank but in some ways we would prefer to have £80million in the bank and Ronaldo on the pitch."

 

Gill said part of the losses related to one-off payments after bank loans were turned into a bond, totalling £47million. He added that if 'goodwill' losses - an accounting practice relating to the original takeover - of £35.2million, and foreign exchange losses of £19million (which should be recovered next year) and depreciation are ignored, United would have an actual profit of about £25million.

 

Gill added: "There are very good results for the club with records here, there and everywhere but they are complicated with non-cash items and exceptional one-off hits."

 

Fans' group have raised concerns that there could be parallels with the Liverpool crisis, where the holding company may be forced into administration next week over unpaid debts following a leveraged takeover, and the Glazer ownership of United.

 

Gill however insisted that was not the case.

 

He added: "I can't speak for any other club but the United fans should not be concerned, we have a long-term financing structure in place, excellent revenues that are growing, we are controlling our costs - total wages are 46% of turnover - and we can afford the interest on our long-term finance.

 

"In our opinion if something changed in the ownership this club will survive and continue - it is covering the financing cost more than adequately.

 

"We still have cash to invest in players and to give good contracts to players and we are comfortable with the business model."

 

The figures show that United's wage bill rose by 7% to £131.7million, while United's overall debt rose to £521.7million.

 

It may also appease some critics that according to the figures, the Glazers have not taken any money out of the club to pay any of their £200million-worth of PIK notes that are now attracting interest at 16.25%.

 

Gill added: "They have retained that money in the bank and it's there for Sir Alex if he needs it for players, and for investing in the training ground and the stadium."

 

United are confident that they will meet UEFA's financial fair play rules despite the figures because not all the paper losses - such as depreciation - are included by UEFA when they calculate whether clubs are only spending what they earn.

 

http://www.mirrorfootball.co.uk/news/Manchester-United-under-no-pressure-to-sell-players-despite-losses-insists-David-Gill-article596443.html

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Wife had a meeting in Pall Mall with the Glazers a few weeks back

 

They'll refinance to get the interest payments down and while they won't necessarily grow profits, they are comfortable that the club will more than service the debt.

 

Now whether that means they will have to sell a Ronaldo or Rooney every once in a while and not give the manager the proceeds I know not but they are certainly confident of refinancing at better rates

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At least Ferguson hasn't just sat back whilst all of this happens around him.

 

Oh no wait...

 

 

What's the rub for him in getting involved and maybe disrupting his squad? He's managed to win three titles and the CL under the Glazers and competes for everything, they are not going to sell the club until such time as they cannot service the debts or get offered a bucketload of money. .

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At least Ferguson hasn't just sat back whilst all of this happens around him.

 

Oh no wait...

 

And all because he wanted some horse jizz...

 

As I said to someone recently, who put forward the idea that you never want to see any club go under, if Utd went bust on the day Thatcher died I would die from alcohol poisoning

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Ferguson knows if the s*** starts to hit the fan he'll probably be long gone by then and it'll be someone elses problems.

That being said it could only take a few seasons of winning nothing and they could slide. Which could happen if they don't get the investment they'll need over the next few years.

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Ferguson knows if the s*** starts to hit the fan he'll probably be long gone by then and it'll be someone elses problems.

That being said it could only take a few seasons of winning nothing and they could slide. Which could happen if they don't get the investment they'll need over the next few years.

 

 

Exactly right. He's got his own thing to focus on, namely 19 titles and a couple more CLs if he can manage it before he goes. Everything he says come on like 'I dont need this hassle, leave me out of it and pipe down'

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That ship has sailed ... The Mancs have no real chance of winning the PL or the CL with this team ...

 

Maybe you'll prove to be right. All it takes is for Rooney to find form and they'll be pretty short odds for the big prizes, as it stands they are still genuine contenders

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Ferguson will be finding ways to excuse the owners again. The guy is such a sellout. At least Rafa made his unhappiness with the financial situation know to the public, even though it pissed off Hicks and Gillette. Ferguson continues to lick the Glazer's a*** even though they are leading the club to ruin.

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Ferguson will be finding ways to excuse the owners again. The guy is such a sellout. At least Rafa made his unhappiness with the financial situation know to the public, even though it pissed off Hicks and Gillette. Ferguson continues to lick the Glazer's a*** even though they are leading the club to ruin.

 

p4-bebe_441200s.jpg

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