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United - Debt Increase!

United - Debt Increase!

According to reports surfacing in the media, our wonderful owners, the Glazers, are about to unleash further debt on us.

It`s being reported that an additional £75 million could be heaped on our debt total due to a forthcoming interest rate rise.

It seems that the interest rate on the £220 million loan increases from 14.25% to 16.25% come August prompting a financial source in the city to pipe up,

"The pressure is growing on the Glazers to sort their debts out as soon as they can before they go too high."

"They will have to find this money from somewhere and I imagine it will come from the club."


When did our wonderful game become all about money, somebody please enlighten me?

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Writer:Red Boy
Date:Wednesday May 19 2010
Time: 9:00PM

Comments

0
I asked myself the same question when Berbatov left.
DubaiSpur
19/05/2010 21:28:00
0
Oh, and Carrick. And I will ask myself that again if Modric leaves.
DubaiSpur
19/05/2010 21:29:00
0
How does a 2% interest rate rise become £75m? Surely that £75m is just a worse case scenario based on penalties that would occur over the life time of the loan? From what I understand, the interest rate is reviewed yearly and the club made the INTENTIONAL decision to incur a 2% increase THIS YEAR, because it wanted to use more profits than our loan agreements allows, to pay down the debt. Next year, the interest rate will go back down. Essentially this is a non-story designed to make it look as though our debts are spiralling out of control (which I doubt is true, but cant confirm until our latest accounts are issued later this month).
tuscan3000
19/05/2010 21:51:00
0
You have nobody to blame. The greed and the need to purchase players rather than use home grown has got you exactly what you deserve. The whinging when things go wrong is immediately focused on purchasing the best of players no matter what the cost. Ferguson has been guilty of some really massive blunders over the years that would have had all other teams managers heads on the block. But no not you, you heap rewards on him and are so blinkered by his miserable returns. I'm glad, come back into the real world, build on a local base and earn respect not try and buy it.
Only-Sleggin
19/05/2010 21:55:00
0
Not too fussed, even if we did go into uncontrollable debt it will just force the Glazers to sell. Always look to the bright side.
TheFamousNo7
19/05/2010 22:33:00
0
Are you drunk? If United had not purchased a single player in the last 5 years we would be in £700m worth of debt. Even the most anti-united fan could never look at Fergies reign (either recently or overall) and describe his return as miserable. Hell, if fergies return is miserable - who do you consider to have a good return? United have as many home grown players as any top team in the premier league. In fact we were only a left-back and left winger away from being able to put out an all english 11 this seaon (Foster, Neville, Brown, Ferdinand, Hargreaves, Carrick, Scholes, Welbeck and Rooney). If you want a team more local than that, you'll have to go to a park - because professional football in england is not going to satisfy your need to see players who were born within a stones throw of the stadium. Anybody who's respect has not yet been earned never will be. Teams have spent far more than United and achieved a lot less. If you're gonna be WUM at least try and come out with something which doesnt expose you as being retarded.
tuscan3000
19/05/2010 22:42:00
0
Only-Sleggin, though I still retain some slight bitterness against United due to the nature of the Carrick and Berbatov transfers, I think you've stepped way over the mark with your rant. Tuscan3000 has already summarized what I was going to say, anyway. Without any transfers in, United would still be loaded up with 500 million pounds+ worth of debt, if Fergie's return is miserable, then I'm sorry, but there's no manager in the world today whose return is anything above miserable. The last man who could be described as better than Fergie died leading Scotland to the World Cup, Jock Stein. And if you are such a proponent of building a local base, I'd like to know how-many home grown players your team has in its starting eleven. Top-flight football demands that you play the best, regardless of their nationality, and in that respect, United have done rather well with their home-grown quota.Now, I'd be happy to hear a coherent argument from you about why United deserve their debt, but pontless rants against a team you clearly dislike only wastes our time And yours.
DubaiSpur
19/05/2010 23:00:00
0
Only-Sleggin, though I still retain some slight bitterness against United due to the nature of the Carrick and Berbatov transfers, I think you've stepped way over the mark with your rant. Tuscan3000 has already summarized what I was going to say, anyway. Without any transfers in, United would still be loaded up with 500 million pounds+ worth of debt, if Fergie's return is miserable, then I'm sorry, but there's no manager in the world today whose return is anything above miserable. The last man who could be described as better than Fergie died leading Scotland to the World Cup, Jock Stein. And if you are such a proponent of building a local base, I'd like to know how-many home grown players your team has in its starting eleven. Top-flight football demands that you play the best, regardless of their nationality, and in that respect, United have done rather well with their home-grown quota.Now, I'd be happy to hear a coherent argument from you about why United deserve their debt, but pontless rants against a team you clearly dislike only wastes our time And yours.
DubaiSpur
19/05/2010 23:01:00
0
Whoops, double post again. Sorry, fellas.
DubaiSpur
19/05/2010 23:01:00
0
Its fine DubaiSpur posting it twice just makes you more correct! ;)
tuscan3000
19/05/2010 23:53:00
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