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OnlyMe

Shopping Mall United

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The only surprise is that others are surprised.

http://news.bbc.co.uk/1/hi/uk/10237268.stm

Manchester United owner's debts hit £1.1bn

By John Sweeney and Andrew Head BBC Panorama John Sweeney John Sweeney followed the debt trail of the Glazer family

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

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The only surprise is that others are surprised.

http://news.bbc.co.u...uk/10237268.stm

Manchester United owner's debts hit £1.1bn

By John Sweeney and Andrew Head BBC Panorama John Sweeney John Sweeney followed the debt trail of the Glazer family

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

Well, no one has previously been able to discover where their original £275m 'cash' stake money came from.

Andy Green puts a great deal of effort into trying to better understand the Glazers' finances, so tying this into the securitisation of their First Allied malls is new as far as I'm aware.

I'd also wonder the extent to which their original PIK note debt from the three hedge funds, the Lehman deal, and the AIG sponsorship contract were connected. AIG after all were buying this sort of sh1t at the time and Lehmans were pumping it out.

That's purely speculative on my part of course..........

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I do wonder how long they can control the club for. Although I think perspective buyers will wait for the inevitable fire sale.

Man U where a stable club until they decided to go for the PLC route, once that happens your prone to takeover by any outfit.

It would appear the whole club has been bought by debt, leverage is such a wonderful thing.

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When football clubs floated themselves, they sowed the seeds of their own destruction because they inevitable lost control of who could own them.

Serves them right if it all blows up!

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I used to follow United and football in general passionately, then I realised I was paying for people's greed when I shelled out £40 for a top and £600+ for a season ticket etc and for what? To feel the pain that the current crop of passionate supporters are feeling? No thanks.

I still enjoy sport but tend to follow individual sport rather than football. Football needs constant investment and that is just not the case in individual sports. If people stopped buying Nike gear endorsed by Federer, Woods, Nadal etc then is that going to make them worse players? No-one can "buy" them as such so the fans are not effected in the same way.

Football can still be enjoyed but not high level football IMO, it's broken and will not be fixed so long as the money men in football are getting the cash. I don't know how to fix it but wage caps would be start.

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Thank cripes that shopping malls are booming :rolleyes:

Yes, with the fantastic employment figures, average wages, home foreclosures, disposable income and money supply figures coming out of the US, I can see a very bright future for gigantic shopping malls. The Glazers will be able to service their billion $ debt cos they have assets worth $2bn..........apparantly :lol:

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In the spirit of Manchester cooperation, I'd be happy for my team to donate Roque Santa Cruz and Javier Garrido, if it would help.

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  • 152 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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