Man Utd bond issue

[Micalijo]

Just a thought but could McCabe shovel some of our cash into this - or his cash? 9.25% or something similar - excellent stuff, but not as good as he gets off the Blades.

In fact, why don't we sell everything and rather than buy season tickets subscribe to the FT so we can track the bond market. We could have a get together every other Saturday, talk about bonds and properties and cheer when the bonds rise and criticise the fund managers etc when things go wrong.

Our ex-pat fans could report on the foreign markets and there would be very little difference to how things are now.

 

[JohnDenver]

Deftly ignoring the gist of your post (which has been covered adequately elsewhere), the Man Yoo situation is astonishing.

They've become nothing but the plaything of a deeply wierd family. How they were allowed to buy a company and shift the debt incurred into that company was astonishing (to me at least). But now some of the family are taking huge loans out from that company, for purposes I simply can't imagine.

Meanwhile the company is losing money hand over fist, its customers are being exploited, and only the sale of a major asset has kept the books remotely in check. The whole thing is truly bananas.

Thus the bond issue, which is where we came in...

 

[tomtheblade]

..the Man Yoo situation is astonishing.

They've become nothing but the plaything of a deeply wierd family. How they were allowed to buy a company and shift the debt incurred into that company was astonishing (to me at least). But now some of the family are taking huge loans out from that company, for purposes I simply can't imagine.

Meanwhile the company is losing money hand over fist, its customers are being exploited, and only the sale of a major asset has kept the books remotely in check. The whole thing is truly bananas.

I couldn't agree more. I was gobsmacked as to how the holders of such a large amount of debt could acquire the ownage of one of the biggest, richest football clubs in the world and offload their debt onto that club (as i understand it)

Does this mean that i could buy Man Utd if i were willing to get into 700m debt?

 

[JohnDenver]

Does this mean that i could buy Man Utd if i were willing to get into 700m debt?

Give it a go if you've got a spare afternoon on your hands. But I wouldn't recommend it...

UEFA's new rules on debt and operating costs are leaving Man Yoo in trouble. Roman Abramovich and Sheikh Mansour have both converted their (monstrous) loans to their clubs into equity to deal with UEFA's plans.

The Glazers just can't do that - they don't have the money. They're running the place on huge borrowing while UEFA are trying to stop exactly that: success by credit note.

 

[tomtheblade]

Give it a go if you've got a spare afternoon on your hands.

watch this space...