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Rameses II

Quote: from scobie on 11:39 am on May 27, 2005
Still, what do I know? I'm a Leeds fan.




A Leeds fan should know after their financial demise ! Leeds are lucky that the whole operation was not wound up ! Chelsea I am told were two weeks away from the banks calling full time and then Abramovich came in to use his dodgy millions. But Abramovich is a genuine football fan and dodgy money or not it was cash in hand. Hugh jardon either you make the wind-up or you understand little. A lot of the problems stem from as scobie says dodgy Irish horse traders and the fact that Manu is a publically listed company. Here is the crazy part of this type of capitalism. =
Man U has gone from a profitable club to one loaded with debt. Glazer could be using Manu to solve his large cash flow problems. No wonder the banks held a party. Scobie the Leeds experience could quite be easily repeated as Glazer has plucked the golden cherry. I do not like his kind if you understand what I mean. Money mad and greedy.Very greedy. But that debt ! bad felings about that one ! =

Man Utd - R.I.P

Beacuse of the debt. I feel sorry for the fans even the few who actually come from Manchester ?


Thai Girls : Meet Sexy Thai Girls
Posted on: 3:29 am on May 27, 2005
Changover
So because he believes that Man U will be massively profitable he has gone into serious debt? Sounds like a normal takeover - just that in football if it goes wrong you can't break it up and sell it off.

What are the benefits he brings then, can he offer spendig money or media money etc?


Bangkok Women : Meet Sensual Bangkok Women
Posted on: 4:07 am on May 27, 2005
scobie
Well, with the best will in the world, I hope you're right and that they do face the problems Leeds faced.

But that's just a Leeds fan speaking.

I don't think it's likely though. Having debt bears no relationship with profitability. I don't know the extent of Man Utd's balance sheet debt, but I doubt it's very high.

The fact remains that Man Utd is an incredibly profitable enterprise and year on year it reports an operating profit (or, at least it does, according to Deloitte Annual Review of Football Finance).

Debt only becomes a problem when it can't be serviced, ie the interest payments made and a small proportion of the principal reduced. Man Utd's income in the form of gate receipts, tv income and - more importantly in Man Utd's case, merchandising income more than covers its outgoings. So where, exactly, is the problem?

In today's capitalism, it is virtually impossible to find ANY enterprise that doesnt have debt, including the most profitable of them.

Leeds were a different situation altogether. We had debt (who doesn't?) but we were also living beyond our means and running at a massive operating loss week in, week out. We couldn't repay the debt. The end result? The creditors foreclosed and we were forced to sell all our remaining assets at knock-down prices because the market knew we were desperate for cash. A double whammy.

Frankly, while I hate Man Utd with a jealous (i admit it) passion, I firmly believe the 29m you overpaid for Rio means I still have a club to support. Very ironic.

Now, can we have Alan Smith back please?


Thai Girls : Meet Sexy Thai Girls
Posted on: 4:13 am on May 27, 2005
Rameses II
Scobie,

You are right on many counts. I would still not like a daily debt repayment of £130,000 ?? Smith hasn't performed as a goal scorer for Man U. They sold Diego Forlan to Villareal and he has performed well. I do not support Man U but I would not like to see an historical club with that type of debt. Perhaps I will prove wrong but I am not sure. I took no pleasure in seeing Leeds go down (unlike some). Newcastle will be in trouble if they don't change the manager. Souness could be out by November ?


Bangkok Girls : Meet Sexy Bangkok Girls
Posted on: 6:29 am on May 27, 2005
MarkC

Quote: from scobie on 2:39 pm on May 27, 2005
Still, what do I know? I'm a Leeds fan.
Just wait for Bates Motel II...


Thai Women : Meet Matured Thai Women
Posted on: 7:12 am on May 27, 2005
Hugh Jardon
Rameses

Hugh jardon either you make the wind-up or you understand little

If you knew that I am in fact a Southampton Season Ticket holder of many years, you will appreciate that "I make the wind-up"
As such, in common with most other serious football fans, I hope that Man. Utd's stock in the footballing World does indeed falter. I've had a belly full of their glory hunter fan base financing them to being the most profitable club in the World, enabling them to have a substitutes bench worth more than entire teams of some of their rivals.
This has therefore been a sad year for me seeing my team relegated. But on the other hand, there is at least the consolation of seeing United win f*** all, not even the FA Cup and even better that they came third in the Premiership. It was no better for English Football that United were winning the Premiership, than it was for motor racing, having Schumacher winning Formula 1 every season.
Thankfully the heirarchy has now changed and perhaps we won't see as many young Thai lads wearing United shirts in future. Mind you, most of those shirts were illegal replicas and Man Utd probably derived no income from them.
Like most neutrals, I was very pleased at Liverpool's winning of the European Cup. The match was one of the all time greats and it was a privilege to see it.


Bangkok Women : Meet Beautiful Thai Girls
Posted on: 7:16 am on May 27, 2005
Broken Leg
Just Back from Istanbul,

What a night!!



Don't know what the Man U fans are so upset about, Glazier seems like a good guy, and he did a great job on my windows.


Bangkok Girls : Meet Attractive Thai Girls
Posted on: 9:54 am on May 27, 2005
expatchuck
Hugh Jardon::

Great idea about the cheer leaders and pom poms.

Soccer needs something interesting to look at other than the odd athlete writhing around faking an injury.


Thai Girls : Meet Active Thai Girls
Posted on: 11:12 pm on May 27, 2005
Broken Leg
EPC,

Surely the Alzheimers isn't kicking in already?!?

You find an athlete on a running track not a soccer field.


Thai Women : Meet Matured Thai Women
Posted on: 5:01 am on May 28, 2005
Rocky

Quote: from Broken Leg on 10:06 am on May 27, 2005
Just Back from Istanbul,

What a night!!



Don't know what the Man U fans are so upset about, Glazier seems like a good guy, and he did a great job on my windows.



You weren't one of the scouse fans that left at half time ?

100-1 a Liverpool win at half time ! Would have been worth a £5 bet at least. Glad they stuffed Berlusconis spagehetti eaters good and proper ! Now most of the team will be sold off for some new blood. They'd be
daft to sell off Hamann ? He 'd do a good job at Fulham ?


Bangkok Girls : Meet Attractive Thai Girls
Posted on: 7:06 am on May 28, 2005
     

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