Manchester United: Singapore Stock Exchange Listing

[Gunny]

Looks like its going ahead: http://www.reuters.com/article/2011/...77I21I20110819

I think it's a very good move to finish the £45million per year debt repayments. But does anyone know how dividend payments work for shareholders of football clubs?
If we raised £500million and all the clubs debts were cleared for example, but the share holders expect say a 5% dividend yield? That would mean we'd be paying £25million per year but much better than £45m I guess!

[BigBrand]

I don't believe it.

You'd all do a lot worse than to read Andersred Blog.,

http://andersred.blogspot.com/

[Lighty]

I don't believe it.

You'd all do a lot worse than to read Andersred Blog.,

http://andersred.blogspot.com/

Mate everyone at OT knows that Andy (who runs andersred blog) is a cunt, he's a massive massive Glazer hater and pretty much built the fuckin bandwagon so read all you want as any argument can be made to look positive or negative although you wont find any positive ones from andy. The IPO all depends on an eventual proposed valuation of the club at the end of the day. He's basically making up figures based on what he thinks the club is worth, also the valuation is not exactly what the clubs current worth is right now it includes the future and its ability to attract investments etc etc. At the end of the day even getting rid of half the debt is not a bad thing. Im sure the clever bastards involved in the whole deal will have a plan far more complex and constructive than any of us lot or Andy can work out.

[BigBrand]

Mate everyone at OT knows that Andy (who runs andersred blog) is a cunt, he's a massive massive Glazer hater and pretty much built the fuckin bandwagon so read all you want as any argument can be made to look positive or negative although you wont find any positive ones from andy. The IPO all depends on an eventual proposed valuation of the club at the end of the day. He's basically making up figures based on what he thinks the club is worth, also the valuation is not exactly what the clubs current worth is right now it includes the future and its ability to attract investments etc etc. At the end of the day even getting rid of half the debt is not a bad thing. Im sure the clever bastards involved in the whole deal will have a plan far more complex and constructive than any of us lot or Andy can work out.

I'd be telling fibs, if I could tell you I fully understand everything he talks about, I don't.

However, saying that currently the Glazers are entitled to take £90m per annum from the club, they've not done that, yet. They could sell the naming rights to the stadium, they probably will never do that (Old Trafford is to well known)

But, debt is bad for the club, that much is obvious. If we reduce, or remove the debt from the club, that will then allow the Glazers more flexibility for taking money for them self.

I don't believe he's made up any figures, all the information is easily checkable from public account records, obviously stats can be manipulated to show what ever you want them to.

But the bottom line is, United isn't work £1.5bn, the debt is a bigger issue, and floating a percentage of the club is only raising capital to sort the bond out that's due in a few years.

The business model is nothing like how Gill and Glazers agreed to, they're fucked, and unless they clear the debt, and continue to take minimal funds from the club, that's the only way we'll survive.

[BBK]

But the bottom line is, United isn't work £1.5bn

That's the question though isn't it. Forbes suggest the flotation could end up with United being worth £1.7 billion, so if we do end up floating 25 - 30%, is that not the debt covered off? Now for me, much as I hate the thought of the Glazers taking £90m a year out of the club for their own personal wealth, I'd rather see that happening and the club be debt-free, as this ensures we at least survive in a worst case scenario. Yes, I'm probably taking a very simplistic view of things because tbh thats all I can really do, I really don't get all the complexities involved.

[BigBrand]

Of course being debt free is the ultimate, but to aim for such a perfect business plan scares me, especially with the fair play rules, new income over wealth regulations etc.

Guess only time will tell.

I fucking hate Gill thought