Manchester United

[badpiggy]

Is Ratcliffe a Brexity "British spine" but pays tax in another country sort?

[Le Chef]

Is Ratcliffe a Brexity "British spine" but pays tax in another country sort?

Yep, lives in Monaco

[frank the tank]

****in perfect for that lot then.

[Le Chef]

From Swiss Ramble

Transfers

Manchester United spent £215m on bringing new players to the club in the first half of the season, almost entirely during the summer transfer window. This is their third highest outlay ever, though lower than last season’s £247m, which was their highest ever gross transfer spend.

This included the big money signings of Rasmus Hojlund from Atalanta, Mason Mount from Chelsea and André Onana from Inter. They also brought in Altay Bayindir from Fenerbahce for a small fee, while Jonny Evans returned to Old Trafford from Leicester City on a free transfer.

In addition, Sofyan Amrabat and Sergio Reguilon arrived on loan from Fiorentina and Tottenham Hotspur respectively.

This sizeable outlay means that United have splashed out an incredible £2 bln since 2013. In other words, the club has clearly spent a lot of money, but not as well as their fans would have liked.

[Le Chef]

Financial Debt

United’s net debt increased by £173m in the first half of the year from £537m to £710m, as gross debt jumped £160m from £613m to £773m, while cash fell £13m from £76m to £63m.

The £773m gross debt is the highest amount owed since 2010\

Interest

In fact, before this repayment, United’s interest payment increased from £14m to £19m in the first half, which is the clubs’ highest in recent years.

Since 2017 the club had been paying around £20m interest annually, but it shot up by more than 50% to £32m in 2022/23, due to higher debt and increasing interest rates.


This means that United have now paid out a shocking £800m in interest since the Glazers’ leveraged buy-out in 2005.

[Le Chef]

Transfer Debt

United’s transfer debt shot up £62m in the first half from £277m to £339m, which is easily a club record, and means that this has increased by more than £200m in less than three years.

In other words, much of the high transfer spend has been on credit, i.e. paying transfers in instalments.

United are, in turn, owed money by other clubs for their player sales, but this only amounts to £52m, so net transfer payables are a hefty £287m.

[Le Chef]

So in Summary £1.1b in debt

[SB]

I’m not sure how that fits in to the FFP obligations.

[Charly]

I’m not sure how that fits in to the FFP obligations.

It doesnt

The only thing that affects FFP is amortisation and any interest paid on borrowed money. A high level of transfer debt means that you are probably facing large amortisation amounts each year, or cash payments coming up, but its meaningless without a wider context. It could also mean they are managing their cash really well.

All of it depends on how much revenue they generate, and then having the cash available to pay those debts when the time comes. But cash levels and debt are irrelevant to FFP.

Ultimately it is proably about the Glazers having enough pocket money until they sell up. The level of support and revenue has been steady enough despite a lack of recent success. It continues to make enough money on a product they essentially got for free

[vlahka]

Ever since they beat us its been daily annoyance from my UTD friends. Screw you gakpo.

[ChesterDave]

The highlight of their season is beating us. A sign how how far they have fallen from being regular challenges for silverware

[EwarWoo]

I remember the days when I'd be happy with beating United. Thank christ they're in the past, both those days and United.

[Slinky Skills]

Cunts are going to get a hammering when we play them in the coming weeks.

[jono]

Cunts are going to get a hammering when we play them in the coming weeks.

It'd be funny if we won the league on goal difference and it happened to be the amount that we hammered them by.

[Mr Pink]

It'd be funny if we won the league on goal difference and it happened to be the amount that we hammered them by.

…and if they missed out on CL football by the same goal difference