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+--- Thread: Glazers, Bond Issue and Debt (/Thread-Glazers-Bond-Issue-and-Debt)
RE: Glazers, Bond Issue and Debt - Noucamp99 - 31-01-2010
Hot on the heels of the Keith Harris story, chief exec, David Gill has spoken out about the club's finances and appears to toe the party line:
Manchester United chief executive David Gill has played down concerns over the club's financial situation.
It was announced earlier this month that United's total debt had risen to £716.5million, leading to fears about the club's future.
Gill has already stressed that Wayne Rooney will not follow Cristiano Ronaldo out of the Old Trafford exit door and he insists funds from the Portuguese star's sale are available to Sir Alex Ferguson.
Revealing that United had failed in a bid to sign Karim Benzema last summer, Gill once again promised to support his manager in the transfer market.
"Without doubt," said Gill. "We used £15million to buy Antonio Valencia and we have well over £100m in the bank sitting there.
"People look from the outside and say Alex has been under pressure. I think everyone who has dealt with Alex or seen him in the press knows he will not compromise what he wants to do for this club.
"If I went to (joint board chairman) Joel Glazer and said 'Alex wants a particular player, can we have the money?' The answer would be an unequivocal yes.
"They have demonstrated it (with Benzema). We didn't get Benzema but we did offer 35m euros."
Gill also alleviated worries that the Glazer family would sell Old Trafford or the club's Carrington training ground, or that they were not in it for the long haul.
"This is a long-term thing," he said. "They bought (American football team) the Tampa Bay Buccaneers in 1995 and 15 years later, they still own that - they are in it for the long term.
"All the actions they've taken, whether it be investing in the infrastructure, whether it be putting more money into looking at Carrington, into players... it strikes me it's all long-term views."
On the possibility of Carrington being sold and leased back to the club, he added: "I am 100% convinced that will never happen under Glazer family ownership.
"The sale and leaseback opportunity within the bond document is done for financial and tax planning. Manchester United Limited continue to have complete control of Carrington."
Source: skysports.com
I'm not sure this will go far enough to appease the fans, in my opinion. There are so many concerns simply over the level of the debt. We want United debt-free and owned by the fans who have the club's best interests at heart and are not in it purely for the fast buck!
RE: Glazers, Bond Issue and Debt - Noucamp99 - 01-02-2010
David Gill (United CEO) and Duncan Drasdo (MUST CEO) argue it out in the press!
A well-written piece from the Guardian online meets the 2 CEO's interviews together:
David Gill, Manchester United's increasingly beleaguered chief executive, has appealed to the club's supporters not to take part in what he called a "ridiculous" protest against the Glazer family. Gill was speaking publicly for the first time since the extent of the club's financial problems was laid bare in a bonds issue, provoking a new wave of supporters' opposition to the club's owners.
One idea is to hold a mass protest before the Champions League tie against Milan on 10 March and not to enter the stadium until 10 minutes after kick-off. The fans' anger has also manifested itself in the wearing of green and gold, to commemorate the club's origins as Newton Heath.
Gill, however, has no sympathy for the fans' concerns.
"I would appeal to the fans to be sensible and get behind the team," he said. "We are a very well-run club and given what's happening at other clubs, people should be proud of what's happening at Manchester United. It [a protest] serves no purpose and it won't change a thing. [Milan] will be a tough game and we can't afford for the fans not to be there. Let's not have ridiculous protests of that nature."
Gill had backed the supporters' protests before the Glazer takeover but he has changed his opinion since the Americans took control of the club. The fans' opinion of him has plummeted.
"There are 100 different ideas of how to protest and that was just one of them," said Duncan Drasdo, of the Manchester United Supporters' Trust. "The only protest that is definite is the green and gold movement which has spread like an anti-Glazer virus. I think the club are really rattled by it because they know it is something that could unleash a revolution."
Gill also said that United will not have to sell their most valuable player, Wayne Rooney, because of debts which stood at £716.5m in June last year.
"Wayne has a contract through until 2012," said Gill. "He has gone on record to say he wants to stay and we want him to stay. I'm sure that will be addressed in the close season. We hope that would be the case as we want to put him on a new, long-term contract. He's 24 and has got the best years of his life ahead of him. Very few players, particularly UK-based players, want to leave Manchester United."
The Glazers have floated the possibility that United might sell and then lease back their Carrington training ground but Gill said he was "100% convinced" that would not happen.
Source: www.guardian.co.uk
RE: Glazers, Bond Issue and Debt - Vazza - 01-02-2010
Gill said not to behave te same vs Milan match
RE: Glazers, Bond Issue and Debt - Noucamp99 - 01-02-2010
The United fans got behind the team both at home to the scum and away to the arse, so what's he talking about? They chose their time to chant anti-Glazer stuff, like when the team was cruising. So what if they're wearing Newton Heath colours? It's our history and they are free to speak openly. Don't suppress our rights!!!
RE: Glazers, Bond Issue and Debt - Bennthered - 01-02-2010
IM 200% BEHIND THIS! wish i had the money lol!
RE: Glazers, Bond Issue and Debt - Noucamp99 - 02-02-2010
Originally posted by rattylad, but copied and pasted here:
Todays article in the M.E.N by Stuart Mathieson about the Red Knights should bring hope to anti glazer campaign he states that the so called Red Knights should go public so United fans can have something tangible to back ? isn't that exactly what M.U.S.T is doing ? personally I think the media want them to go public so they can dig up dirt and invade their private lives so screw the media . I hope that the consortium succeed as i'm not a Glazer fan although ive been more optimistic than most that they may do some good eventually , but with Platini making anti english noises eventually may be too late . I also Disliked with a passion Martin Edwards and his father especially after it was reported that Martin Edwards said Manchester United can exist without the supporters . The "Red Knights" have my support and i will be registering with M.U.S.T to back it up . I just hope that if it all comes to fruition we can compete in the transfer market with "City's United Nomad Tribesmen" also known as well, you work it out
I also edited the end. A little near the knuckle, but I did like it, lol. + rep point on it's way, too.
RE: Glazers, Bond Issue and Debt - Phil-M.U.F.C. - 24-02-2010
More news about Harris' takeover plans...looks like he's asking now for fans to not go to Old Trafford matches.
Harris calls for United action
Fans told not to attend Old Trafford games
Keith Harris, who claims to have a group of investors ready to buy Manchester United, has called on the club's fans to force current owners, the Glazer family, into selling.
Harris says he has a British-based group of investors, who are ready to buy United - if the Glazers make the club available.
United's supporters have always been against the Glazers' ownership of the club, but most recently have stepped up their campaign against them - notably ditching the club's red and white colours in favour of green and gold.
But Harris wants more, insisting fans should boycott matches.
"Turning up to games 10 minutes late and things like that just doesn't do the job," Harris said.
"The green and gold protest is fabulous, a symbolic and significant message to the owners. It is like the white handkerchiefs in Spain. But that won't force the Glazers to sell to us.
"However, if enough people - and I am talking about thousands - stop turning up to matches and do not renew their tickets, then that does it. The supporters have to hurt the Glazers in their pockets.
"They have to be prepared to take the pain of not watching their club in order to achieve a long-term gain. Supporters have to be galvanised to say, 'We will not come. We will not buy programmes and merchandise'.
"It's a big ask, it's a risk, but that is what must happen. The Glazers are thick-skinned and seem impervious to protest. They will not be impervious to enormous drops in their revenue.
"I would not talk about this if I didn't have full confidence in our ability to raise the money to do this. I never talk publicly unless I have confidence. Getting the money together is the easy bit.
"But we can't make an offer until the Glazers are placed in a position where they are forced to consider it."
source: skysports.com
RE: Glazers, Bond Issue and Debt - Phil-M.U.F.C. - 01-03-2010
More news of a takeover guys
Group considers United bid
Financiers in secret meeting to discuss potential takeover offer
Sky News sources understand leading city financiers have met to discuss a potential takeover bid for Premier League champions Manchester United.
Representatives from law firm Freshfields and investment bank Goldman Sachs, among others, are understood to have been involved in the secret meeting.
Informally known as 'the Red Knights', the group held talks regarding a potential offer to buy out the Glazer family, who are unpopular with United fans.
The mammoth debts at Old Trafford have recently sparked a green and gold protest from supporters as the fans call on the Glazers to leave the club.
A £500million bonds issue has been used to help refinance the debts, and Sky sources understand the Glazers are not looking to sell.
However, Keith Harris, who has been involved with the group considering a potential takeover, recently called on supporters to start boycotting matches in an attempt to force the Glazers' hand.
Big ask
Harris said last week: "Turning up to games 10 minutes late and things like that just doesn't do the job.
"The green and gold protest is fabulous, a symbolic and significant message to the owners. It is like the white handkerchiefs in Spain. But that won't force the Glazers to sell to us.
"However, if enough people - and I am talking about thousands - stop turning up to matches and do not renew their tickets, then that does it. The supporters have to hurt the Glazers in their pockets.
"They have to be prepared to take the pain of not watching their club in order to achieve a long-term gain. Supporters have to be galvanised to say, 'We will not come. We will not buy programmes and merchandise'.
"It's a big ask, it's a risk, but that is what must happen. The Glazers are thick-skinned and seem impervious to protest. They will not be impervious to enormous drops in their revenue.
"I would not talk about this if I didn't have full confidence in our ability to raise the money to do this. I never talk publicly unless I have confidence. Getting the money together is the easy bit.
"But we can't make an offer until the Glazers are placed in a position where they are forced to consider it."
source: skysports.com
RE: Glazers, Bond Issue and Debt - Noucamp99 - 02-03-2010
And we all know that Harris' ideas are just a pipe dream. it is not going to happen this way. Does he really think that the Glazers would consider selling to the man who organised all this crap? What an idiot! If he galvanises the fans into not going, which is never going to happen as we've talked about before, then they are just going to have such bitter feelings for him, that the Glazers would sell to just about anyone else before him. It is so simple!
The right course would be to sit down with the Glazers and discuss ways in which his money and supporters can firstly look to help the club's finances and then see where it goes from there. Harris is obviously after a quick fix and that ain't going to happen.
Now, don't get me wrong, I won't those yanks out of the club I love, but I don't want to see the club destroyed in the process. I don't have the answers, but I can't see bringing the club to its knees and then stepping in like some kind of knight in shining armour is the answer. Remember Leeds?
Patience, I'm afraid, seems to be the key?
RE: Glazers, Bond Issue and Debt - Bennthered - 02-03-2010
the RED knight in shinning armour?