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United - Whose Laughing Now?

United - Whose Laughing Now?

They say he who laughs last laughs longest!

I bet those Chelsea fans who didn`t see the funny side of our guffawing when we took great delight in the London club losing millions and millions every year have a smile on their faces now.

The shocking revelation that Manchester United revealed losses of £84 million has certainly spawned a few column inches this morning with many along the lines of how can a great institution, like United, can register such a loss.

It appears though that United are now caught between the devil and the deep blue sea. Our revenue streams are being drained by the loans that need servicing courtesy of the Glazer family.

Indeed the media have pointed out that the loss is directly attributed to these loans with interest debts alone accounting for £40 million and another £65 million going on re-arranging loans.

Both are mind-boggling amounts and amounts that could quite easily have been used to bolster the team, instead we`re left to ponder where it will all end.

Whilst Manchester City and Chelsea are no doubt troubled by their losses at least they can relax safe in the comfort that their respective owners have the funds to cover them and didn`t have to borrow grotesque sums to get their hands on their two football clubs.

Astonishing, sad and worrying times I fear!

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Writer:Red Boy
Date:Saturday October 9 2010
Time: 2:54PM

Comments

0
Being honest i'd rather take a serious drop down the table and force the Glazers to sell and get some proper owners who can afford to run the club and invest money (liverpool-esque style) than keep on skimming it up top watching the glazers take the profits and let the debts build and have an uncertainty about whether we will collapse the next season.
TheFamousNo7
09/10/2010 15:02:00
0
Yid in peace, Seems like the Glazers are very similar to Hicks and Gillet, only slightly smarter! They've increased the revenues at United to a point where they seem safely able to repay the debts and interest (sadly therefore reataining ownership of the club). The downside being, it seems there's a period of "austerity" (as our new PM's would call it) ahead for United. While you'll still be much wealthier than 80-90% of the league, hard to buy top European and World class talent for a little while (or certainly not in big numbers). There's a good breakdown of it all on BBC website. http://www.bbc.co.uk/blogs/davidbond/2010/10/crunching_the_numbers_at_old_t.html
The Horses Mouth
09/10/2010 15:06:00
0
Thefamousno7, I'd agree, I think the real danger is that by 2017, the Glazers could be debt-free ownes of the club, and therefore able to fleece the club for many years to come, a short, sharp fall from grace, and United could rebuild itself with a new owner in charge!
The Horses Mouth
09/10/2010 15:11:00
0
2017 - feck me that's a long way off but you're right, I'm laughing now!
merlin
09/10/2010 15:14:00
0
well atleast if we cant cover the loans and glazers are forced to sell i cant see there being lack of interested buyers
Reddevils4ever89
09/10/2010 15:16:00
0
the Glaziers are not dumb - each year they are at least now reducing the debt - as long as ManU don't implode on the pitch (unlikely) then they know they will end up owning one of the best cash-cow businesses money can't buy....and that's a hell of a pension income they're have! Sorry Guys but I think you're stuck with them for a very long time to come...
spursex
09/10/2010 16:16:00
0
I thought you might be! But don't panic, I'm sure we'll surivive!
Red Boy
09/10/2010 18:13:00
0
I thought you might be! But don't panic, I'm sure we'll surivive!
Red Boy
09/10/2010 18:13:00
0
i hava feeling the Glazers WILL be owners for a long time yet.... a £1,1 BILLION Price tag, (if the papers are to be believed) is an unrealistic sum.... even for a OIL Sheikh....... and cant see the Banks lending some multi millionaire 'consortium' the money, even the so called RED knights....
cityman51
09/10/2010 21:11:00
0
Worrying times for your club, similar to ours. Merlin can laugh all he wants, i wouldn't be if my clubs very existence was in the hands of one man. No Roman = No Chelsea. Now wouldn't that be amusing?
KB1
11/10/2010 17:43:00
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