Man Utd seek $100m to shore up debt

[Iceman]

I liked this from the article:

 

"you're buying a piece of a debt-saddled team that can't afford superstar players (and) couldn't clinch the Premier League title last season.

 

And then the killer line:

 

"But you're also getting a small bit of history."

 

Let's fucking hope so.

[gumps]

Surely there must be a massive day of reckoning coming up for these cunts.

 

The fact that they are able to service their debt at the moment is being masked by continued success. A few years like last years without success will quicken that reckoning.

 

You can't keep continuing refinancing debt and diluting shares by continuous floatations. The money has to be paid off surely sometime. The only real viable out for the Glazers is a super rich Arab type, but the longer this goes on the less likely I reckon.

[thompsonsnose]

Manu Ipo - House Price Crash forum

 

Vanity shares.

Shoudn't be a problem finding vain buyers.:yes:

Next Facebook train wreck on the horizon.

 

If LFC ever did a Barca, or a Bournemouth;) then maybe i'd bite.

[Preston Red]

I wouldn't bank on some Arab buying them as Dubai and the surrounding areas like Saudi are in deep financial trouble. Not everything is as rosy as it seems over there.

 

Notice how City aren't rushing to buy players?

 

I hope United go under as I fucking hate them. My level of hate could be showcased by the Daniel Bryan .gif that Kopitelewis put on the other day. The NO! NO! NO! one. But as we all know in this perverse game of life and football they'll always come out on top while that old bastard is pulling the strings.

[Carvalho Diablo]

[jackofdk]

 

Triunfo de la Muerte?

 

I know fuck all about art but that picture is fucking ace.

[xerxes]

Surely there must be a massive day of reckoning coming up for these cunts.

 

The fact that they are able to service their debt at the moment is being masked by continued success. A few years like last years without success will quicken that reckoning.

 

You can't keep continuing refinancing debt and diluting shares by continuous floatations. The money has to be paid off surely sometime. The only real viable out for the Glazers is a super rich Arab type, but the longer this goes on the less likely I reckon.

 

So long as they are in the CL they should be ok.

 

Their debt is coming down, this is as much about a payday for the owners as anything else. The fact that they have been able to effect this without diluting the controlling shares shows they are in a strong position.

 

This is bad news for us as it is free money for the owners, which will certainly catch the eye of FSG.

 

Their point of vulnerability will come when Whiskey nose goes.

[Unrighteous]

A successful initial public offering would reportedly result in investors owning 42% of the shares available but only carrying voting rights of 1.3%.

 

Trading under the stock market ticker Manu, shares rose but then pulled back to stand still at the 14 US dollar mark.

 

Shavaz Dhalla, financial trader at Spreadex, said: "After opening positively, possibly caused by smaller retail investors looking to pick up a token share, the club's share price slowly began to retrace and drop early gains.

 

"Clearly, investors who are actually looking for a return as well as a shareholder voting right are steering clear."

[OOTer]

I'm speculating here, but could this info tucked into this article be the real reason behind the IPO?

 

Manchester United IPO: share price slashed before New York Exchange debut | Football | The Guardian

 

"The company is also taking advantage of recently introduced US laws that limit the financial disclosures it must make. United is raising capital as an "emerging growth" company under president Barack Obama's recently passed Jumpstart Our Business Startups, or Jobs Act.

 

The move means United will not be required to file quarterly reports or be subject to the same level of financial scrutiny as other US-listed firms for five years."

 

Minimal to do with raising money, more to do with hiding any potential problems envisaged in the next 5 years? Could this mean after 5 years financial irregularities will be exposed, by when the club will have been sold and Fergie retired?

 

Football finance is a fucted up place.

 

I read a while back that ManU don't pay corporate tax here in the UK. Can't find much about that though. Did find this Check Out Manchester United's Cayman Islands-Based Shell Corporation - Business Insider . Wonder if we pay our taxes the same. Surely with government spending cuts the people of the UK won't be happy to learn that massive football clubs use financial legalities to pay less into the public coffers. I could be totally wrong though.

[Geraghty]

I wouldn't bank on some Arab buying them as Dubai and the surrounding areas like Saudi are in deep financial trouble. Not everything is as rosy as it seems over there.

 

Notice how City aren't rushing to buy players?

 

I hope United go under as I fucking hate them. My level of hate could be showcased by the Daniel Bryan .gif that Kopitelewis put on the other day. The NO! NO! NO! one. But as we all know in this perverse game of life and football they'll always come out on top while that old bastard is pulling the strings.

 

Even Ferguson can't beat time though it's just a waiting time

[OOTer]

Manchester United Ltd. Cl A, MANU Stock Quote - (NYSE) MANU, Manchester United Ltd. Cl A Stock Price

 

If you want to follow the share price. Don't think it means much now in terms of financing ManU as they've taken their bit. But would it be used to valuate the club from now on?

[Carvalho Diablo]

Triunfo de la Muerte?

 

I know fuck all about art but that picture is fucking ace.

 

It is. Here's another one, "Fergie" ?

 

[Barzini]

I wouldn't bank on some Arab buying them as Dubai and the surrounding areas like Saudi are in deep financial trouble. Not everything is as rosy as it seems over there.

 

I wouldn't be so sure of that. The area isn't in as much trouble as maybe the UK press would have you believe. Abu Dhabi is still enormously wealthy although there would obviously be some conflict of interest as they own City. If anyone jumps in to save them, it will more than likely be the Qataris, who could buy Man United with their spare change. Qatar will probably be on the lookout for a global "brand" to increase their profile ahead of the 2022 world cup.

 

Modern football eh? Worracunt.

[Anubis]

 

Ah, some of my men going about their work. I approve of your artistic taste.

[JagSquared]

I wouldn't be so sure of that. The area isn't in as much trouble as maybe the UK press would have you believe. Abu Dhabi is still enormously wealthy although there would obviously be some conflict of interest as they own City. If anyone jumps in to save them, it will more than likely be the Qataris, who could buy Man United with their spare change. Qatar will probably be on the lookout for a global "brand" to increase their profile ahead of the 2022 world cup.

 

Modern football eh? Worracunt.

 

Dont the Qatari's own PSG? That's their global brand right there. I reckon they will get bought buy some rich git though.

[The Acolyte]

I'm speculating here, but could this info tucked into this article be the real reason behind the IPO?

 

Manchester United IPO: share price slashed before New York Exchange debut | Football | The Guardian

 

"The company is also taking advantage of recently introduced US laws that limit the financial disclosures it must make. United is raising capital as an "emerging growth" company under president Barack Obama's recently passed Jumpstart Our Business Startups, or Jobs Act.

 

The move means United will not be required to file quarterly reports or be subject to the same level of financial scrutiny as other US-listed firms for five years."

 

Minimal to do with raising money, more to do with hiding any potential problems envisaged in the next 5 years? Could this mean after 5 years financial irregularities will be exposed, by when the club will have been sold and Fergie retired?

 

Football finance is a fucted up place.

 

I read a while back that ManU don't pay corporate tax here in the UK. Can't find much about that though. Did find this Check Out Manchester United's Cayman Islands-Based Shell Corporation - Business Insider . Wonder if we pay our taxes the same. Surely with government spending cuts the people of the UK won't be happy to learn that massive football clubs use financial legalities to pay less into the public coffers. I could be totally wrong though.

 

Don't you remember C&A setting up all those subsidiaries when they bought us, most of which were set up in the Cayman Islands? That's where they stashed the money they chiseled off the club books, the cunts!

[setreal]

Don't you remember C&A setting up all those subsidiaries when they bought us, most of which were set up in the Cayman Islands? That's where they stashed the money they chiseled off the club books, the cunts!

 

It's the American way!

 

According to Mitt Romney.

[Ginny]

If Man Utd go under and the yanks leave them in the shit, the real danger will then be when some massive rich Arab comes in and buys them

[SlugTrail]

6 September 2012 Last updated at 11:40 Share this pageEmail Print Share this page

 

61ShareFacebookTwitter.Manchester United shares fall despite 'buy' advice

United's shares began trading in New York in August Continue reading the main story

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Shares in Manchester United fell 2.2% on the New York Stock Exchange on Wednesday, despite a number of bullish broker predictions for the stock.

 

Five brokers opened coverage of the newly-floated company on Tuesday, four with "buy" ratings.

 

Jefferies & Co. - lead underwriter in the flotation - put a price target of $20 on the stock, but Nomura was more cautious, setting a $13 target.

 

However, the shares fell to $12.90, below their $14 flotation price.

 

The club's joint chairmen, Avram and Joel Glazer, had been hoping for a price of $16-$20 a share when they sold 10% of the club in an initial public offering (IPO) on 10 August.

 

The IPO raised $233m (£150m) for the club, which had cancelled plans to list the shares in Singapore earlier this year, citing difficult economic conditions.

 

Since the New York flotation, the club has seen more than $200m wiped off its stock market value, which now stands at $2.1bn.

 

The club has said that some of the money raised from the flotation will go towards reducing its debts of £423m.

 

While Manchester United earned more than £100m in sponsorship and merchandising deals last year, there is concern that spiralling player salaries will eat up profits.

 

 

Glad to see everything is going to plan, the greedy bastards!!

[Bjornebye]

anyone called whiskey nose a cunt yet?

[lifetime fan]

Don't expect FFP to deal with it.

 

 

UEFA Financial Fair Play

 

Exemptions - Clause 6

 

UEFA are able to take into account the importance of a club to the competition and use discretion when ruling on a major club from a big media nation.

[Lee909]

FFP is as big a myth a the tooth fairy.

UEFA will ban some small club to make it look as if they ate enforcing it while ignoring all the big clubs.Henry and Werner need there heads checking if they still think its coming in.

 

Best thing they could do is get planning permission for a stadium renovation a d sell the club if anyone is interested.If we have not got back to the champions league by the time these sponsorship deals need renewed they are fucked.

[TheHowieLama]

[Saintslfc13]

FFP is as big a myth a the tooth fairy.

UEFA will ban some small club to make it look as if they ate enforcing it while ignoring all the big clubs.Henry and Werner need there heads checking if they still think its coming in.

 

Best thing they could do is get planning permission for a stadium renovation a d sell the club if anyone is interested.If we have not got back to the champions league by the time these sponsorship deals need renewed they are fucked.

 

I don't know, I used to get fivers and sometimes tenners under my pillow when I lost baby teeth.

 

I've seen no evidence at all that this FFP shit is even possible however...

[The Acolyte]

FFP is as big a myth a the tooth fairy.

UEFA will ban some small club to make it look as if they ate enforcing it while ignoring all the big clubs.Henry and Werner need there heads checking if they still think its coming in.

 

Best thing they could do is get planning permission for a stadium renovation a d sell the club if anyone is interested.If we have not got back to the champions league by the time these sponsorship deals need renewed they are fucked.

 

Is it just me or is that these latest Yanks may have made a better stab of due diligence with LFC when compared to C&A but they may have seriously overlooked the FFP rule book? Were they just given the infant school version and they took it as gospel? So if a major club disregards the rules they get a free pass? What constitutes a major club? Money? League titles? CL wins or appearances? Going by that rational French teams with the exception of PSG are in for a hiding if they break the rules. What will Platini say then?