Jump to content
House Price Crash Forum

Archived

This topic is now archived and is closed to further replies.

AvidFan

Panorama Tonight: One To Watch

Recommended Posts

Posted on another thread:

Panorama

Tuesday 08 June

10:35pm - 11:05pm

BBC1

Man United - into the Red

Red is the colour of Manchester United - but now it's as famous as the colour of the club's balance sheet. Thousands of its fans wear green and gold - a protest against American owners the Glazer family who, they say, have saddled the club with a growing mountain of debt. On the eve of the World Cup - and ahead of a possible bid for the club - John Sweeney explores the battle for the soul of United, the true scale of its debts and its ramifications for our national game.

The Glazers are in trouble to the tune of £1.1bn at interest rates of 16.25%. The poster child for the debt-ridden collapse of the Premiership. Portsmouth being wound-up is just the start, IMHO.

Share this post


Link to post
Share on other sites

Strangely, if or when the whole financial edifice collapses, there will remain the same pool of players with the same talent.

And presumably there will be no law passed that forbids playing the actual game, nor watching it.

Keeping it real might turn out to be more fun. :)

Share this post


Link to post
Share on other sites

Strangely, if or when the whole financial edifice collapses, there will remain the same pool of players with the same talent.

And presumably there will be no law passed that forbids playing the actual game, nor watching it.

Keeping it real might turn out to be more fun. :)

Amen to that.

Share this post


Link to post
Share on other sites

Well, did anyone see it?

63 out of the 64 malls in the US they own have mortgages on them. 4 have gone under already - one example was a mall that had a $750 thousand mortgage and was worth $500 thousand. Another was for sale at a little over $1 million with a mortgage of £3.7 million.

They're going down. Assets "worth" $2bn and debts of $1.1bn with rising interest rates. They're treating Man U as a cash point by issuing high interest bearing debt on the future purchasing power of the club. Leveraged up to the eyeballs just when everyone else is getting out...

Share this post


Link to post
Share on other sites

All over the Panorama website ATM:

http://news.bbc.co.u.../hi/default.stm

Indeed.

All the key points, ably put across. John Sweeney did an excellent job.

Most people seem to be expecting them to sell United to fund their strip malls.

Hoever, my money is on them dumping their US strip mall business and possibly the Buccs and putting all their eggs in the United basket. i.e. selling the losers and keeping the winner. United are a global 'brand' (urrrggghhh), strip malls are locked into their physical locations and economy.

Share this post


Link to post
Share on other sites

Finallly got round to watching this. Didn't look pretty did it? All that CRE under water.

And fittingly this week it seems that season tickets haven't sold as well as usual. A blip or the start of the worm (the fans) turning?

Share this post


Link to post
Share on other sites

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 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%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.