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+--- Thread: Glazers, Bond Issue and Debt (/Thread-Glazers-Bond-Issue-and-Debt)
RE: Glazers look at Bond Issue - Noucamp99 - 11-01-2010
Nope. That will go into the Glazer's pockets and pay off the loan, their PIK part of the loan. Seriously, don't expect to see much of the issue spent on the club.
Hmm, how do Bonds compare to shares....?
RE: Glazers look at Bond Issue - andrewcmufc - 11-01-2010
i can see them doing a mike ashley and selling the naming rights to OT
RE: Glazers look at Bond Issue - DaleDaManc - 11-01-2010
Is there any company that owns a nice few shares??
RE: Glazers look at Bond Issue - andrewcmufc - 12-01-2010
not sure
RE: Glazers look at Bond Issue - DaleDaManc - 12-01-2010
umm noucamp99 and Hylts(cant spell his name) are good for getting all this info init!
RE: Glazers look at Bond Issue - Noucamp99 - 12-01-2010
There are no shares held in United. The shares were all bought by the Glazers, when they took ownership. The MUST (Manchester United Supporters Trust) hold funds on behalf of the supporters, etc that signed up to join in the hope that they can raise the funds to buy (or help to buy) back the club when the Glazers decide that enough is enough.
Their response to the financial strife the club is in - £47,000 (YES, Thousand POUNDS) PER HOUR is the rate at which the interest is accrued - is shown here:
JUST GO!
In response to the announcement that Manchester United are to issue £500m of bonds in an attempt to refinance some of the debts imposed on it by the Glazer family MUST - the Manchester United Supporters Trust called on the family to go.
MUST chief executive Duncan Drasdo said "Now is the time for the Glazers to go. This bond issue is just rearranging the deck chairs and still leaves the club with huge debts which they expect supporters to continue to fund. The day the Glazers put the club up for sale you can expect celebration on the streets of Manchester. Most supporters have had enough."
"Under their ownership the club has become liable for more than £260m in interest payments alone and the latest trading statement would have shown a substantial loss were it not for the sale of Ronaldo".
The contrast with Manchester City's owners could hardly be starker.
"If it were a race, then United are dragging their owners behind them like a broken tractor, while City's owners are providing rocket fuel. It just shows what a fantastic job Sir Alex and the players have done that we are still ahead despite the deadweight of the Glazers' ownership."
"It is in everyone's interest for the Glazers to exit and make way for a new investor interested in working with the supporters to build a stronger football club and business together. Manchester United doesn't need a sugar daddy - we just need to get rid of the leeches."
--
Duncan Drasdo
CEO, MUST - the Manchester United supporters' trust www.joinmust.org
RE: Glazers look at Bond Issue - DaleDaManc - 12-01-2010
I'm not reading that
already in a bad mood from those RATS
RE: Glazers look at Bond Issue - Noucamp99 - 12-01-2010
Read it. It is from like-minded people who love the club. The response from Duncan Drasdo, that is.
RE: Glazers look at Bond Issue - DaleDaManc - 12-01-2010
We need arabs to buy us!
RE: Glazers look at Bond Issue - Noucamp99 - 12-01-2010
Not from Dubai! Their running out of money! We need far east investment, tbh. But, they must be football loving businessmen. We don't want (or need) plain businessmen who don't understand how a football club is run. It is a different ball game (excuse the pun) from running any other kind of business.