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fredrian.seven 04-01-2010 07:31 AM

Re: Manchester United - Biz, Financial news 'n rumors
 
Babak baru terkait finansial MU. setelah kabar akan adanya konsorsium yang mau beli MU... klo ada yang paham tentang obligasi (bener kan?) bisa kasih penjelasan dikit ya apa sih untungnya ngeluarin itu? makasih...

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Glazer family want £600m bond to cut Manchester United's massive debt
By Sportsmail Reporter Last updated at 11:04 AM on 03rd January 2010

Manchester United have asked banks to help them raise £600million in a bid to cut the massive debts they owe financial institutions.

United have been labouring under mounting debts since the Glazer family took over in 2005, burdened by the cost of the takeover.

The Americans have been desperate to refinance as interest payments soared to almost £69m last season on debts of around £700m.

Now the Glazers have asked JP Morgan and Deutsche Bank to assess a £600m bond issue, which would reduce interest payments, according to reports last night.

The family insist the club is not in trouble and, even though interest payments are rising, the cost is more than covered by extra profits.

United made £256m of cash in 2008, for a profit of £72m, but would struggle if the team were ever to fall out of the Champions League places.

berita lain yang terkait
Code:

http://financialadvice.co.uk/news/6/loans/13288/Manchester-United-considering-600-million-bond-issue.html
http://www.bloomberg.com/apps/news?pid=20601009&sid=atyseO6kD6rk


fredrian.seven 05-01-2010 05:22 PM

Re: Manchester United - Biz, Financial news 'n rumors
 
Dari MUST - the independent Manchester United supporters' trust...

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Manchester Utd. Loans Gain on Reports of Refinancing
By John Glover and Tariq Panja

Jan. 4 2010 Bloomberg


The price of loans to Manchester United Ltd. rose after reports the Premier League soccer champion is considering selling bonds to refinance debt.

The club’s 520 million pounds ($840 million) of senior loans rose about 3 pence to 97 pence in the pound, said Alex Moss, head of high yield at Insight Investment Management in London.

The Glazer family of the U.S., which bought the club in a 790 million-pound buyout in 2005, plans to settle its 14.25 percent so-called payment-in-kind loan for which the family is responsible, according to reports in the Sunday Times and the Financial Times. The outstanding PIKs total about 202 million pounds, according to data compiled by Bloomberg.

“That the new owners could take on so much debt to buy a football club is a reminder of how widely the monetary madness spread in 2006/2007,” said Kit Juckes, chief economist at ECU Group Plc in London. “That they might be able to issue a new bond and start cleaning up their finances is indicative of how far quantitative easing policies have taken us.”

Sales of high-yield bonds soared in the second half of last year, as the market for debt rated lower than BBB- at Standard & Poor’s and Baa3 at Moody’s Investors Service reopened after a two-year hiatus. Under the terms of the PIK loan, hedge funds that own the securities can appoint directors if the club’s performance deteriorates below a certain level, the Sunday Times said.

Debt Payments

PIK notes allow borrowers to pay interest with more debt instead of cash.

A spokesman for the Glazers, who asked not to be named, declined to comment. Philip Townsend, a spokesman for Manchester United in Manchester, also declined to comment.

Under the Glazers, United has been among European soccer’s most successful teams, winning three successive league titles since 2007 as well as the European Cup in 2008. Alex Ferguson, aged 68, has been manager since 1986.

“There is some key-man risk with Ferguson, who presumably will bow out at some point,” said Moss at Insight. “And the club’s financial performance depends on its performance on the field.”

United’s parent company Red Football Joint Venture Ltd. said in an annual filing in April that its loss narrowed to 43.2 million pounds from 57.8 million pounds for the year ending June 2008. The company paid 68.8 million pounds in net interest, according to the filing.

Cup Loss

United suffered a 1-0 loss in the F.A. Cup third round to Leeds, a team ranked 43 places below United. The defeat was United’s first third round elimination since 1984.

The club’s chances of collecting a record 19th title this season were dented pre-season after former world player of the year Cristiano Ronaldo moved to Real Madrid and Carlos Tevez opted to sign with crosstown rival Manchester City.

The club didn’t use the proceeds of Ronaldo’s record 80 million-pound trade to recruit a marquee player. Ecuadorian winger Antonio Valencia, a 17 million-pound capture from Wigan, was the most expensive recruit, while striker Michael Owen and Frenchman Gabriel Obertan also joined. United said more funds were available but Ferguson decided against using them.

Last year United announced a four-year sponsorship with Aon Corp. that is worth 80 million pounds, according to U.K. media reports.

“They should monetize that,” said Stephen Schechter, founder and chief executive officer at Schechter & Co. in London, who’s helped teams including Newcastle, Southampton and Germany’s Schalke raise money. “Get payment up front and pay down the debt so that way you are not impugning the birthright of Manchester United.”

The club could also securitize gate receipts from its 76,000-seat stadium, he said.

B4YU 06-01-2010 02:35 PM

Re: Manchester United - Biz, Financial news 'n rumors
 
^^ dari site laen...:D

Manchester United loans' price has gone up

English club Manchester United's loans' price has gone up following reports that the club is seeking to sell bonds to refinance its debts according to Bloomberg. The Premier League club’s GBP 520 million of senior loans gained about 3 pence to 97 pence in the pound according to the head of high yield at London's Insight Investment Management, Alex Moss. Bloomberg indicates that the American Glazer family, which owns the club, has payment-in-kind (PIK) loans of about GBP 202 million and the Sunday Times and Financial Times have reported that the family is looking to settle this debts it is personally responsible for after the 2005 buy-out. The Glazers paid GBP 790 million for the club and took on the 14.25 percent a year PIK loans at that time. Kit Juckes, who is the chief economist at ECU Group remarked that “That the new owners could take on so much debt to buy a football club is a reminder of how widely the monetary madness spread in 2006/2007. That they might be able to issue a new bond and start cleaning up their finances is indicative of how far quantitative easing policies have taken us.”
High-yield bond sales have grown rapidly in recent months and Standard & Poor's market for debt rated lower than BBB and Moody’s Investors Service opened after a two-year closure.

The PIK loan terms allows the hedge funds that own the securities to appoint their own directors if the club's financial performance becomes worrisome according to the Sunday Times. The PIK notes allowed the Glazers to pay interest with more debt rather than with cash.

Manchester United has done well under the Glazers and has emerged as a very successful football franchise with three successive league titles since 2007. The club also won the European Cup in 2008. Manager Alex Ferguson,who is 68-years old, has been with the club since 1986 and as Insight's Moss put it, “There is some key-man risk with Ferguson, who presumably will bow out at some point, and the club’s financial performance depends on its performance on the field.”

Red Football Joint Venture Ltd., United's parent company, made an April annual filing which indicated that it has narrowed its loss to GBP 43.2 million from GBP 57.8 million for the year ending June 2008. The filing also showed that the company had paid GBP 68.8 million in net interest.

Code:

http://www.eufootball.biz/finance/7874-manchester_united_loans_price_gone_up.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+eufootball+%28Daily+headlines%29

Supernan 07-01-2010 11:49 AM

Re: Manchester United - Biz, Financial news 'n rumors
 
So, are you sure you've got £60m to spend at Manchester United, Sir Alex?

By Ian Ladyman
Last updated at 1:25 AM on 07th January 2010

When stories of Manchester United’s supposed interest in the unemployed former England defender Sol Campbell surfaced a month ago, manager Sir Alex Ferguson decided it was time to make a point.

After instructing in-house journalists to ask him about the issue, the Scot did not mince his words in reply.

‘It’s been suggested we were moving for Sol Campbell, that we don’t have any money and that we wanted to take somebody cheap,’ he said. ‘That’s all wrong.

‘The money is there, if I want to buy someone. There is no question about that. That a fact.

Ferguson had, by all accounts, grown tired of suggestions that United were being crippled by the debt bestowed upon them by their American owners, the Glazers. It was, he thought, time to add a voice of genuine authority to the debate.

The problem is, though, that many United followers no longer believe him.

With just £20million of the £80m reaped by the sale of Cristiano Ronaldo in the summer so far reinvested in a team that has shown inconsistent form at times this season and Ferguson showing no signs of spending any more, there are increasing fears that the Glazer regime is — for the first time — severely impacting on the manager’s budget.

http://i.dailymail.co.uk/i/pix/2010/...34_468x286.jpg

Recent revelations that the Glazers are trying once again to reorganise their enormous £700m debt, this time by attempting to chop part of it up into saleable bonds, have certainly set alarm bells ringing.

So, for some time, has the series of small cuts behind the scenes at Old Trafford that smack of a big football club desperately trying to make tiny savings wherever it can.

Redundancies have recently been made in the accounts department, for example. Some staff are no longer entitled to free lunches at the Carrington training ground and at Old Trafford on match day.

Meanwhile, some contributors to the match-day programme and official club magazine have complained of slow payment.

United admit that cuts have been made at the club but argue that they are merely behaving in line with the way any large company would in an attempt to offset the effects of a worldwide recession.

The club also claim that the transfer budget for Ferguson is separate to that used to cover day-to-day running costs and point to the fact that a £30m cash offer was made to French club Lyon for the striker Karim Benzema in August as evidence that Ferguson does have cash at his disposal.

That, however, was August. This is now. And it is beyond doubt that the Glazers’ financial grip of affairs at the club they bought in 2005 is becoming ever more precarious.

Having taken on debts of £598m to take the club into private hands four-and-half years ago, the Glazers have subsequently seen that figure rise to £699m and beyond.

This is largely because of the phenomenal interest due each year on the £275m they borrowed from three hedge funds at the time of the takeover.

In the financial year ending June 2008 — United’s last published accounts — as much as £60m was paid in interest alone. That’s £165,000 a day.:!!

With one bout of refinancing having taken place on the whole debt in 2006, the Glazers are now thought to be embarking on another, aimed specifically at rearranging the section still owed to the three hedge funds.


Neither the family’s spokesman nor banks JP Morgan and Deutsche Bank have denied suggestions that the two institutions have been instructed to arrange a bond issue, something that would alleviate the immediate pressure of continuing to service their debt at high interest levels but would in all likelihood only add to the overall debt in the long term.:hiu:

At United, the mood remains relatively sanguine.

With Chelsea and Manchester City learning in recent times — City just this week — that their billionaire owners have wiped out the debt owed to them, United remain sceptical about their rivals’ long-term financial outlook.

How, they reason, do those clubs continue to pay their enormous wage bill if Chelsea’s Roman Abramovich or Sheik Mansour at Manchester City choose to sell up and walk away?

Nevertheless, thousands of United followers remain deeply resentful and suspicious of their own owners. To them, they are not the Glazer brothers but the Brothers Grimm, those tellers of tall tales from the 1800s.

During the Glazer years, supporters have seen trophies continue to arrive but they have also seen ticket prices rise and net spending on players remain relatively low.

The family have always denied that they would resort to such drastic measures as selling the naming rights to Old Trafford to raise money or indeed selling the stadium altogether and leasing it back.

To the rank and file, though, those fears remain in the forefront of their minds.

A large cheque written out at Ferguson’s behest, signed by chief executive David Gill and offered to a club such as Bayern Munich for a player such as Franck Ribery would go a long way to settling a few nerves, of course.

For now, that doesn’t look like happening. It is perhaps no wonder that suspicions of parsimony remain.


http://i.dailymail.co.uk/i/pix/2010/...05_468x523.jpg

hendiplast 11-01-2010 07:20 PM

Re: Manchester United - Biz, Financial news 'n rumors
 
Manchester United announce £48.2 million profit
Manchester United have reported pre-tax profits of £48.2 million for the year to June 30, 2009.


http://i.telegraph.co.uk/telegraph/m...o_1556585c.jpg

The figure includes the world record £80m fee collected from Real Madrid for the sale of Cristiano Ronaldo and also £41.9m paid out in interest on a mammoth loan of £509.5m.

Turnover was also up, from £80.4m in 2008 to £91.3m a year later.

The figures were released on a morning when United officially confirmed their intention to raise £500m through bonds in order to refinance their debts.

While United are at least in profit once more, the figures merely emphasise what a drain on resources their debt position is.

Without the sale of Ronaldo, United would have been reporting a loss of £31.8m, a situation that clearly is unsustainable over the long term, hence the Glazer's refinancing plans.

"Manchester United today announced that it will be seeking to raise approximately £500m aggregate principal amount from an offering of senior secured notes due 2017," said a United statement.

"The notes, whose proceeds will be used to refinance existing debt secured against the club, will be issued by MU Finance plc."

Supernan 12-01-2010 06:47 AM

Re: Manchester United - Biz, Financial news 'n rumors
 
Manchester United aim to raise £500m in bond sale in bid to reduce mounting debt
Manchester United have confirmed they plan to raise £500 million in a bond sale as the Glazer family aim to restructure the club's punishing £699m debt.


By Mark Ogden
Published: 7:40AM GMT 11 Jan 2010

http://i.telegraph.co.uk/telegraph/m...d_1556463c.jpg

Having bought United in a £790m takeover in May 2005, the Florida-based Glazer family have since seen the club’s debt rocket. In 2008, interest payments of £69m accounted for £72m of profit.

But with Sir Alex Ferguson’s first-team squad flying out to Qatar on Sunday for a warm-weather training break, the club has confirmed that moves are being made to raise £500m in bonds.

A United statement said: “Manchester United today announced that it will be seeking to raise approximately £500m aggregate principal amount from an offering of senior secured notes due 2017.

“The notes, whose proceeds will be used to refinance existing debt secured against the club, will be issued by MU Finance Plc.”

United manager Ferguson had insisted on Friday that the club’s debt was unrelated to his spending power and that he had substantial money to spend following last summer’s £80m sale of Cristiano Ronaldo to Real Madrid.

Ferguson said: "I have got all the money I need. The money is available and, if I wanted to buy someone, I could get the money.

"I could easily have spent the Ronaldo money but I didn't want to do it because I couldn't see any value in the market. Believe me there is no impact (on the transfer fund)."

The move to issue bonds is aimed to alleviate the Glazers’ Pik (payment in kind) loans which are carry a 14.25 per cent interest rate. The outstanding loan is understood to be approaching a figure of £200m.

Ferguson added on Friday that he believed the bond issue was a good move for the club’s financial situation.

He said: "I don't have any concerns about the financial situation. There is absolutely no issue at all with the club’s finances.

“There is debt there, but it has never interrupted my plans for the team at any stage.

“I have no issue at all. There has been talk about a bond issue and I think that's a good thing for the club. Anything that helps with the repayment of the debt is a good thing.”

rondwisan 12-01-2010 07:51 AM

Re: Manchester United - Biz, Financial news 'n rumors
 
lama2x bingung juga nih ....
sebenernya United tuh bisa menghasilkan lebih but di tangan Glazer emang rada2x katrok gitu masalah financialnya ...
report dari beberapa media juga sering kali bertolak belakang, satu saat dibilang rugi soro, besoknya media laen lagi bilang profit bagus ... :-/:-?

yah moga aja semua issue biz di United gak terbawa ke performa team di lapangan ...
c'mon United ...

B4YU 12-01-2010 09:24 AM

Re: Manchester United - Biz, Financial news 'n rumors
 
MANCHESTER UNITED LOOK FOR A £500M BOOST



WHILE Sir Alex Ferguson’s squad trained in the warmth of Qatar yesterday, the cold reality of Manchester United’s financial problems was confirmed back in icy Great Britain.

Without the £80million world record sale of Cristiano Ronaldo to Real Madrid last summer, United would have reported a £32m loss for the year ending June 30, 2009.

And they paid nearly £42m in interest charges on the £509m debt incurred by the Glazers, their controversial American owners, to buy the club five years ago.

The club continues to make pots of money, with turnover up more than £22m to £278.5m and the operating profit up to £91.3m. After depreciation and amortisation of players’ contracts, the pre-tax profit stood at £48.2m, compared with a loss the previous year of £21.4m.

But the turnaround was almost entirely down to the sale of crowd idol Ronaldo, while the figures emphasise the drain on United’s resources from servicing the huge debt and why the fans are so angry and cynical towards the Glazers. It is clearly an unsustainable situation and the Glazers confirmed refinancing plans yesterday to raise £500m through a bonds issue.

United are under pressure from UEFA to reduce their financial burden and the bonds plan follows the decisions of Manchester City’s owner Shiekh Mansour and Chelsea owner Roman Abramovich to wipe out the debts of their respective clubs by converting personal loans to equity.

United do not have a super-rich benefactor, hence the refinancing plan which invites banks and wealthy individuals to take out bonds for seven years with a fixed rate of interest – but, crucially, far lower than the amount the Glazers are paying at the moment.

The bond issue is aimed specifically at the Asian financial markets where United have a huge following.
Financial experts also say it will be a significant barometer in how football clubs are viewed in the current climate.

A club statement said: “Manchester United today announced that it will seek to raise approximately £500m aggregate principal amount from an offering of senior secured notes due in 2017. The notes, whose proceeds will be used to refinance existing debt secured against the club, will be issued by MU Finance plc.”

However, the club will not be able to touch the controversial £175m worth of “payment-in-kind” notes that are currently attracting an eye-watering 14.25 per cent interest.

These “PIK” notes are the Glazers’ personal debt and it is highly likely another refinancing avenue will be explored to try to reduce that interest which is rolling up annually at a staggering rate. In the days when United were a successful public limited company they offered plenty of information on a six-monthly basis, including being a forerunner in stating what agents’ fee they had paid out.

But now there is no financial requirement to do so, information is being kept to a minimum.

But the figures released yesterday effectively confirmed what fans already feared – United continue to make money on and off the pitch but much of it is being creamed off to service the Glazers’ debt. Supporters believe Sir Alex Ferguson’s hands are being tied when it comes to signings, a perception he rejected on Friday when he said: “I don’t have any concerns about the financial situation.

“There is absolutely no issue at all. There is debt there, but it has never interrupted my plans for the team at any stage. There has been talk about a bond issue and I think that is a good thing for the club. Anything that helps with the repayment of the debt is a good thing.

“I have got all the money I need. The money is available and, if I wanted to buy someone, I could get the money. I could easily have spent the Ronaldo money but I didn’t want to do it because I couldn’t see any value in the market.”

But the fans will not be satisfied until a team that is regarded as a fading force is strengthened by some major new signings. Ferguson did offer £35m for Karim Benzema last summer but was gazumped by Real Madrid, who paid Lyon £42m .

Of the £80m from the sale of Ronaldo, Ferguson has so far spent only about £24m on Antonio Valencia (£17m), Gabriel Obertan (£3m) and Mame Biram Diouf (£4m).

Code:

http://www.express.co.uk/posts/view/151210/Manchester-United-look-for-a-500m-boost-

RedRob 12-01-2010 01:29 PM

Re: Manchester United - Biz, Financial news 'n rumors
 
waduh banyak yang repost nih.. Guys, jangan cuma krn beda judul trus di-post ulang yap.. Inti artikelnya ternyata sama..

Anyway, emg agak membingungkan buat kt sbg fans nih.. Opa Fergie bilang ga ada value di bursa transfer, pdhl bnyk nama-nama bagus di sana yg mgkn bs mengisi kekurangan United.. Sementara di sisi lain, performa tim juga mempengaruhi pendapatan klub..

Mudah2an cepat bereslah masalah keuangan ini..
http://img.kaskus.us/images/kaskusmobile_hp.gif

Supernan 12-01-2010 03:21 PM

Re: Manchester United - Biz, Financial news 'n rumors
 
Cuma 2 gan yg repost koq. :P

Intinya kan phak klub ngeluarin surat hutang/obligasi buat meredam hutang klub yg besar apalg bunganya tuh per tahun bs sekitar 40juta pound. Nah dngan obligasi senilai 500 juta pound ini arus kas United bakal lebih fleksibel dlm kontrol keuangannya.

Fergie jg sering meyanggah ga punya duit di bursa transfer. Secara harga pemain udh gila"an skrg semenjak Roman masuk ke celsi, skrg lg eastland ikut"an ngerusak harga pasar blom madrid.

Nah yg gw tangkep disini Fergie ga mw beli pemain jadi, mending doi beli pemain muda dan di orbitin nantinya. hehhee


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