Man UTD season 2010/11

EPL, FA Cup, Carling Cup, The Championship, etc

Man UTD season 2010/11

Postby smithy » Mon Jun 07, 2010 6:13 pm

How will this affect things at Man UTD???????Very interesting times ahead for a few clubs and their debts.

Manchester United's owners are £1.1bn in debt - £400m more than previously known - after borrowing extensively against their shopping mall business.

BBC Panorama has found evidence that the Glazer family's debt levels may threaten their hold on the club.

A spokesman for the American family has said it holds more than £2bn in assets.

But the extent of the debt owed by the Glazers is likely to fuel a continuing revolt by some supporters, who oppose their ownership of the club.

Details of the financial arrangements of the owners also come at a time when the sport's governing bodies are facing questions about Premier League debts that have reached a combined total of £3.4bn and the growing popularity of leveraged buyouts in English clubs.

These are people who tell us not to worry about Manchester United debt because they are great businessmen. In their core business in the US they got it absolutely wrong

Mortgage documents seen by the BBC show that the Glazers have borrowed £388m ($570m) against shopping malls and £66m ($95m) against their American National Football League team, the Tampa Bay Buccaneers.

In addition to their mortgages in the US, a portion of the Glazer family's £700m Manchester United debt will soon see them charged interest at a rate of 16.25%.

Fans fear that, despite the club's record of success on the pitch, the Glazers' leveraged buy-out of United has saddled the club with debt and that may mean that there is no spare money in the future to buy a new generation of star players.

Disappointed fans have launched the "green and gold" campaign that resurrects the original team colours in protest over the Glazers' ownership.

Their numbers have reached 158,000 and former United star David Beckham has signalled his support.

They point to the £80m sale of star striker Cristiano Ronaldo last year and note that he has not been replaced by a player of similar quality. Yet ticket prices have gone up by more than a third.

The club's management denies any lack of commitment to buying new talent and says that cash is available for Sir Alex Ferguson to buy players.

City analyst Andy Green, 37, is the disgruntled Manchester United supporter who first uncovered the extent of the Glazers' debts.

Mr Green said: "They borrowed more money at inflated valuations right at the top of the cycle.

"These are people who tell us not to worry about Manchester United debt because they are great businessmen. In their core business in the US they got it absolutely wrong."

The Glazers have defended their ownership of the team The debt levels at the club are also drawing the attention of other prominent football figures.

Dave Whelan, Chairman of Wigan Athletic, told Panorama: "I don't think anybody can be satisfied with how Manchester United are being run... they have got somewhere in the order of three-quarters of a billion pounds worth of debt. That has got to be eliminated and eliminated quickly."

The Glazer family's main assets are the shopping centre business in America, First Allied Corporation, along with Manchester United and the Tampa Bay Buccaneers.

First Allied is a private business and its accounts are not publicly available. But Mr Green discovered that the Glazers' shopping mall mortgages had been bundled with other loans as Commercial Mortgage Backed Securities.

Those bundles are publicly traded and therefore require the Glazers to provide detailed information on all the mortgages, which are then publicly available in the US.

Mr Green found mortgages - confirmed by the BBC - on 63 of 64 First Allied shopping centres, totalling £388m ($570m).

Most of those were taken out with Lehman Brothers before the US investment banking giant went bankrupt, triggering the global banking crisis in 2008.


While Lehmans collapsed, the Glazers' mortgage debt lived on and many of those shopping centres are not generating enough income to keep up with interest payments.

With falling commercial property values, many are also now in negative equity.

Banks have put 28 of the shopping centres on a watch list, meaning they are worried about the loans.

Four shopping centres - one each in Ohio, New Mexico, Texas and Georgia - have already gone bankrupt.

When they bought Manchester United in 2005, the Glazer family borrowed £500m and paid the remaining £272 million in cash.

Mr Green found that the Glazers had remortgaged 25 of their shopping centres in the six months before the takeover.

He believes the family borrowed against their US properties to pay for United: "At the time when they had to present a huge amount of cash over here in the UK they borrowed a huge amount of extra money in the US and publicly they didn't buy anything else that year."

A spokesman for the family did not respond to questions about the mortgages taken out by First Allied.

But with properties now worth about £380m ($550m) but mortgages valued at £395m ($570m), the shopping mall company now appears to be worth next to nothing.


That financial picture has analyst Mr Green questioning how the Glazers will service their £1.1bn debt.

Fans are wearing green and gold in protest over the Glazers' ownership United chief executive, David Gill, has said: "We're very confident the business model we have in place will ensure the club can continue to compete at the top of football for many years to come.

"The owners have been true to their word since they took over the club in 2005. They've brought commercial expertise and commercial benefit to us in a numbers of areas, and we've seen our revenues grow significantly."

The Glazers' most troublesome debts are held by Red Football, the parent company that owns Manchester United.

They are payment in kind loans, or PIKs, worth £200m and the interest owing on them will soon rise to 16.25%.

Mr Gill told the BBC in January: "We don't worry about the PIK repayment. That's nothing to with the club."

A spokesman for Manchester United told the BBC last week that the club stands behind Mr Gill's assertion that the debts will be repaid without involving the club.

But sources close to the Glazers have confirmed that Red Football may use cash from Manchester United to pay off the PIKs in the future. The Glazers are said to be "comfortable" with the PIKs.

The situation at Manchester United reflects the wider issue within the Premier League, where clubs like Liverpool and West Ham are struggling with huge debts and FA Cup finalists Portsmouth barely staved off bankruptcy.

Both the Premier League and the FA declined requests for interviews on the subject of debt in football.
smithy
 

Re: Man UTD season 2010/11

Postby devilsadvocate » Tue Jun 08, 2010 12:06 am

smithy wrote:They point to the £80m sale of star striker Cristiano Ronaldo last year and note that he has not been replaced by a player of similar quality. Yet ticket prices have gone up by more than a third.


I guess with the abundance of CR9-esque quality players around the place, it must be infuriating for Utd fans that the club hasn't bought 6 or 7 of them. ;)

Interesting article though, cheers for posting Smithy
User avatar
devilsadvocate
Coach
 
Posts: 6872
Joined: Mon Aug 21, 2006 1:28 pm
Has liked: 3 times
Been liked: 0 time

Re: Man UTD season 2010/11

Postby johntheclaret » Thu Jun 10, 2010 6:02 pm

I watched the BBC Panorama programme
Man U are in deep doodoo. The Glazers business empire in the states is run on smoke and mirrors with liabilities out weighing assets. Whilst this in itself might not be a disaster, thier shopping mall business is crumbling with empty malls and no retailers seemingly interested.

One mall they showed had only 4 retailers in a complex designed for more than 40. Three malls have gone bust already

With debts mounting in the US and high interest loans about to kick in at Man U, I can't see a way out of it for the club. Sure it generates whopping cash but with crippling interest payments, it is only going to get worse.

I think the problem is that the Glazers can't afford to off load the club and the longer they hang on to it the bigger the debt and the less likely a buyer could be found. Lets say in two years time the debt exceeds a billion. A buyer would have to invest at least that much plus maybe 200m to get the club back on it's feet. That's an awful lot of spondula
johntheclaret
Coach
 
 
Posts: 13277
Joined: Mon Feb 26, 2007 2:39 am
Has liked: 409 times
Been liked: 580 times

Re: Man UTD season 2010/11

Postby devilsadvocate » Thu Jun 10, 2010 6:12 pm

johntheclaret wrote:I watched the BBC Panorama programme
Man U are in deep doodoo. The Glazers business empire in the states is run on smoke and mirrors with liabilities out weighing assets. Whilst this in itself might not be a disaster, thier shopping mall business is crumbling with empty malls and no retailers seemingly interested.

One mall they showed had only 4 retailers in a complex designed for more than 40. Three malls have gone bust already

With debts mounting in the US and high interest loans about to kick in at Man U, I can't see a way out of it for the club. Sure it generates whopping cash but with crippling interest payments, it is only going to get worse.

I think the problem is that the Glazers can't afford to off load the club and the longer they hang on to it the bigger the debt and the less likely a buyer could be found. Lets say in two years time the debt exceeds a billion. A buyer would have to invest at least that much plus maybe 200m to get the club back on it's feet. That's an awful lot of spondula


This is a hot topic on a Spurs forum. The sorts of numbers being talked about will make Utd fans wish they 'only' did a Leeds in 4-5 years.

There is a real chance that Utd and Liverpool could be placed into administration in a very short timeframe.

Utd could possibly stave off the threat of administration by being a founder of a breakaway european lague, after UEFA introduced new financial restrictions on clubs.

Bottom line though, none of this is good for football. There is a breaking point not too far around the corner.
User avatar
devilsadvocate
Coach
 
Posts: 6872
Joined: Mon Aug 21, 2006 1:28 pm
Has liked: 3 times
Been liked: 0 time

Re: Man UTD season 2010/11

Postby JK » Thu Jun 10, 2010 10:08 pm

Not sure which thread to put this in ... Would the Man U situation potentially cause further damage to the already distressed state of LFC ... I mean surely any potential buyers (whether by virtue of pure business, or by virtue of ego) looking to get involved with an EPL "heavyweight" club, would walk straight past Liverpool for Man U due to the difference in their stage of establishment (stadium, global appeal, general revenue etc)?
FUSC
User avatar
JK
Coach
 
 
Posts: 37460
Joined: Thu Oct 27, 2005 10:11 am
Location: Coopers Hill
Has liked: 4485 times
Been liked: 3024 times
Grassroots Team: SMOSH West Lakes

Re: Man UTD season 2010/11

Postby devilsadvocate » Thu Jun 10, 2010 10:38 pm

Constance_Perm wrote:Not sure which thread to put this in ... Would the Man U situation potentially cause further damage to the already distressed state of LFC ... I mean surely any potential buyers (whether by virtue of pure business, or by virtue of ego) looking to get involved with an EPL "heavyweight" club, would walk straight past Liverpool for Man U due to the difference in their stage of establishment (stadium, global appeal, general revenue etc)?


But not if they're going to have to pay a billion quid for Man U.

Apparently, the seppos are valuing Liverpool at 800m, which is just stupidly ridiculous. It's worth about half that at best.

So say a buyer is on the prowl, if they have to choose between Liverpool at say 350-400m or Utd at 800m-1b, I think the Reds are a more attractive option. The 400-600m difference in asking price buys a new stadium and a few decent players to play in it.

The problem though is the debts that are attached to each club. Buy the club, the debt is chucked in free. So that does further complicate matters.
User avatar
devilsadvocate
Coach
 
Posts: 6872
Joined: Mon Aug 21, 2006 1:28 pm
Has liked: 3 times
Been liked: 0 time

Re: Man UTD season 2010/11

Postby JK » Thu Jun 10, 2010 10:58 pm

devilsadvocate wrote:
Constance_Perm wrote:Not sure which thread to put this in ... Would the Man U situation potentially cause further damage to the already distressed state of LFC ... I mean surely any potential buyers (whether by virtue of pure business, or by virtue of ego) looking to get involved with an EPL "heavyweight" club, would walk straight past Liverpool for Man U due to the difference in their stage of establishment (stadium, global appeal, general revenue etc)?


But not if they're going to have to pay a billion quid for Man U.

Apparently, the seppos are valuing Liverpool at 800m, which is just stupidly ridiculous. It's worth about half that at best.

So say a buyer is on the prowl, if they have to choose between Liverpool at say 350-400m or Utd at 800m-1b, I think the Reds are a more attractive option. The 400-600m difference in asking price buys a new stadium and a few decent players to play in it.

The problem though is the debts that are attached to each club. Buy the club, the debt is chucked in free. So that does further complicate matters.


I agree (trust me I agree on the LFC valuation :() , but if LFC is currently only available for 800mil quid, you'd laugh and move on to Man U as an investor surely for the extra 200-400mil quid?
FUSC
User avatar
JK
Coach
 
 
Posts: 37460
Joined: Thu Oct 27, 2005 10:11 am
Location: Coopers Hill
Has liked: 4485 times
Been liked: 3024 times
Grassroots Team: SMOSH West Lakes

Re: Man UTD season 2010/11

Postby smithy » Thu Jun 10, 2010 11:42 pm

If anyone knows how to put the debt table from this link from 2010 onto here it would be much appreciated.

http://en.wikipedia.org/wiki/Forbes'_list_of_the_most_valuable_football_clubs
smithy
 

Re: Man UTD season 2010/11

Postby johntheclaret » Tue Jul 13, 2010 8:02 am

Nani fit for United tour
Winger joins Smalling in Red Devils squad

Manchester United winger Nani was among the Red Devils squad which jetted off for their pre-season tour of the United States on Monday morning.
The Portugal international was ruled out of the World Cup after suffering a shoulder injury in training just days before the tournament kicked off.
But he has recovered sufficiently to join Sir Alex Ferguson's 22-man travelling party for the trip to America, which begins with a training camp in Chicago.
New signing Chris Smalling, who has now moved to Old Trafford from Fulham after a deal was agreed in January, is one of several youngsters in the group.
Ferguson and his players posed for photographs with fans at Manchester Airport before departing for the trip which also takes in Canada and Mexico.

United play Celtic in Toronto on Friday before taking on Philadelphia Union at Lincoln Financial Field on 21st July, Kansas City Wizards at Arrowhead Stadium on 25th July and the MLS All-Stars in Houston on 28th July.

They then travel to Guadalajara to play Chivas, the former club of another new signing Javier Hernandez, who will have joined up with the squad by then following his participation for Mexico in the World Cup.
johntheclaret
Coach
 
 
Posts: 13277
Joined: Mon Feb 26, 2007 2:39 am
Has liked: 409 times
Been liked: 580 times

Re: Man UTD season 2010/11

Postby Swooper16 » Wed Jul 21, 2010 11:31 am

Seems as tho Fergie is not going to buy anyone over the break. Certianly raises questions about whether there is any money there to $pend (altho Fergie insists there is).

I do agree with him tho that there is no point in spending over the odds on players we probably dont need anyway. IMO Utd only lack a world class central midfielder. By the sounds of it we asked about Sneijder but he is going nowhere. So unless a player of his ability is tempted to move there probably isnt any point in spending 20+ mil on a David Silva or Fabiano etc when there isnt any guarantee they will be any better then what we already have.

On a positive i am looking forward to seeing how the young Mexican Javier Hernandez goes. Showed some very promising signs at the world cup and could be a clever buy.
User avatar
Swooper16
League - Best 21
 
Posts: 1562
Joined: Tue Apr 17, 2007 3:48 pm
Has liked: 0 time
Been liked: 2 times

Re: Man UTD season 2010/11

Postby johntheclaret » Thu Jul 22, 2010 6:39 am

I heard from a Bolton fan, that there is a lot of talk around the club that Fergie is interested in Gary Cahill. Ferdinand is struggling and Cahill wold be the ideal replacement. £15m price tag shouldn't faze the Reds either.
johntheclaret
Coach
 
 
Posts: 13277
Joined: Mon Feb 26, 2007 2:39 am
Has liked: 409 times
Been liked: 580 times

Re: Man UTD season 2010/11

Postby johntheclaret » Sat Jul 24, 2010 8:55 pm

Vidic agrees lucrative contract extension

MANCHESTER UNITED have ended the uncertainty surrounding Nemanja Vidic’s future by reaching agreement with the Serbia international over a lucrative contract extension. The as yet unsigned deal is expected to keep the 28-year-old at Old Trafford until 2014 and will be worth around €108,200 a week.

Vidic’s future at United has been under a cloud for several months and in June the player’s agent, Paolo Fabbri, claimed the defender would consider his options after the World Cup. Real Madrid and several Italian clubs had been linked with the commanding central defender, a €8.3 million signing from Spartak Moscow in 2006, although the feeling inside Old Trafford was he was angling to elevate Vidic to being among the highest earners at the club.
johntheclaret
Coach
 
 
Posts: 13277
Joined: Mon Feb 26, 2007 2:39 am
Has liked: 409 times
Been liked: 580 times

Re: Man UTD season 2010/11

Postby RoosterMarty » Sun Jul 25, 2010 2:31 pm

Excellent news! Nice to put the rumours of a move to Spain to rest.
User avatar
RoosterMarty
Coach
 
 
Posts: 6524
Joined: Sat Nov 12, 2005 9:30 pm
Location: Adelaide (near Prospect Oval)
Has liked: 11 times
Been liked: 0 time

Re: Man UTD season 2010/11

Postby johntheclaret » Mon Jul 26, 2010 8:24 am

RoosterMarty wrote:Excellent news! Nice to put the rumours of a move to Spain to rest.



Will Fergie still be interested in Gary Cahill? Ferdinand hasn't recovered from a spate of injuries ???
johntheclaret
Coach
 
 
Posts: 13277
Joined: Mon Feb 26, 2007 2:39 am
Has liked: 409 times
Been liked: 580 times

Re: Man UTD season 2010/11

Postby RoosterMarty » Mon Jul 26, 2010 8:59 am

Possibly... can't see Rio lasting the whole season.
User avatar
RoosterMarty
Coach
 
 
Posts: 6524
Joined: Sat Nov 12, 2005 9:30 pm
Location: Adelaide (near Prospect Oval)
Has liked: 11 times
Been liked: 0 time

Re: Man UTD season 2010/11

Postby Swooper16 » Mon Jul 26, 2010 12:03 pm

johntheclaret wrote:
RoosterMarty wrote:Excellent news! Nice to put the rumours of a move to Spain to rest.



Will Fergie still be interested in Gary Cahill? Ferdinand hasn't recovered from a spate of injuries ???


Unlikely. We bought Chris Smalling from Fulham towards the end of last year. If there are transfer funds available then I imagine it would be going towards an attacking midfielder.

Even with Rio out we are fairly well covered in defence.
User avatar
Swooper16
League - Best 21
 
Posts: 1562
Joined: Tue Apr 17, 2007 3:48 pm
Has liked: 0 time
Been liked: 2 times

Re: Man UTD season 2010/11

Postby devilsadvocate » Wed Jul 28, 2010 10:05 pm

Old bacon face will have a tough call to make to cull his list to 25:

From SSN:
Sir Alex Ferguson admits he has a decision to make on whether to include Anderson and Owen Hargreaves in his Manchester United squad this season.

New rules being introduced to the Premier League dictate teams must select a squad of 25 players, including eight who have been at the club for three years before they turned 21.

The squads must be submitted by 5pm on 1st September and clubs are not permitted to make any changes until the January transfer window.

The regulations have left United boss Ferguson with a dilemma over whether to call on midfield duo Anderson and Hargreaves for the first half of the campaign.

A comeback date for Hargreaves, who had a recent setback after double knee surgery, is yet to be set, while Anderson is unlikely to be fit before the end of September after a cruciate ligament injury.

Problem
Ferguson said: "It does give me a problem, but I have just got to wait as long as I can.

"I have to make a decision at some point of course and it depends on when I think those players can come back.

"Most of it (the squad) is formulated in my mind, but one or two I have to make decisions on."


To be honest, Anderson is pants IMO.
User avatar
devilsadvocate
Coach
 
Posts: 6872
Joined: Mon Aug 21, 2006 1:28 pm
Has liked: 3 times
Been liked: 0 time

Re: Man UTD season 2010/11

Postby johntheclaret » Sun Aug 01, 2010 12:57 am

GILL: TRANSFER PHILOSOPHY HAS CHANGED

David Gill admits Manchester United's approach to transfers has changed in the wake of new legislation.
Premier League regulations now stipulate that each club in the top flight can only work with a 25-man squad, of which eight members must be 'home-grown'.

Pressure is now on clubs to unearth British talent, rather than continuously dip into the foreign market.
As a result, summer dealings have died down, with more thought having to be given to the pursuit of potential new recruits.
Many clubs are also looking to tighten their purse strings, meaning less movement and fewer high-profile deals.

Chief executive Gill accepts that United, who have been very quiet this summer, must follow suit, but believes there could be more action before the window slams shut.

"With the World Cup being on not a lot went on in June, but I think there will be more movement in August as clubs look at their squads, and I think there will be some trimming because of the squad limits being introduced in the Premier League," he told United's official website. We have to name at least eight 'home-grown' players in a squad of 25 by 1st September. It's something we need to consider from now on when we're looking at new players to see how they will affect the squad balance."

Gill has also sought to play down reports that he recently returned to Manchester midway through United's pre-season tour of North America in order to wrap up another signing.

He added: "I have no idea where that came from! I can confirm I didn't fly back though. As I've said before we're always looking at things and I'm not saying we won't do any business before the transfer window closes, but at the moment there's nothing imminent."

Not sure if this has been reported on here, but there is new Soccer legislation in place that now forces the top sides to stick to a 25 man squad, 8 of which must be home-grown. In the long run, it is designed to help young home-grown talent break into the EPL, which in turn should be good for the England team. Since posting more of the other European league results, it is noticeable the high level of home-grown nationals that play in thier respective leagues, with only the Spanish, Italian and English league having having an i9mbalance of foreign players. The EPL is far ahead of the others though
johntheclaret
Coach
 
 
Posts: 13277
Joined: Mon Feb 26, 2007 2:39 am
Has liked: 409 times
Been liked: 580 times

Re: Man UTD season 2010/11

Postby johntheclaret » Sat Aug 07, 2010 9:11 am

INJURY BLOW FOR MICHAEL CARRICK

Manchester United midfielder Michael Carrick will miss the start of the season after injuring his ankle in Wednesday's friendly in Dublin.
The England international limped out of the 7-1 victory over the Airtricity League XI after picking up the knock during the first half and Sir Alex Ferguson has confirmed the 29-year-old will be out for a fortnight.
"Michael hurt his ankle on Wednesday," said Ferguson. "It is nothing serious but he will be out for a couple of weeks, so he will miss the start of the season."

It means Carrick will miss Sunday's Community Shield encounter with Chelsea, plus the opening Premier League game with Newcastle on August 16.
In addition Carrick will not be available for England's midweek friendly against Hungary at Wembley.

;)
johntheclaret
Coach
 
 
Posts: 13277
Joined: Mon Feb 26, 2007 2:39 am
Has liked: 409 times
Been liked: 580 times

Re: Man UTD season 2010/11

Postby RoosterMarty » Mon Aug 09, 2010 9:07 am

United won the Charity Shield 3-1 overnight. Pretty excited about Javier Hernandez, he is quality.
User avatar
RoosterMarty
Coach
 
 
Posts: 6524
Joined: Sat Nov 12, 2005 9:30 pm
Location: Adelaide (near Prospect Oval)
Has liked: 11 times
Been liked: 0 time

Next

Board index   Other Sports  Soccer  English Soccer

Who is online

Users browsing this forum: No registered users and 1 guest

Around the place

Competitions   SANFL Official Site | Country Footy SA | Southern Football League | VFL Footy
Club Forums   Snouts Louts | The Roost | Redlegs Forum |