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  • Neil Neil Jan 22, 2010 18:23 Flag

    Glazers Bond issue

    Slightly more optimistic than me, the one and only, but yeah hopefully it means there's some money there to get at least 1 new world class player.

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    • I suspect you may be jumping the gun:

      "They will be able to use up to £70 million of the £117 million of cash on United’s balance sheet to start repaying the PIK notes"

      The Glazers have a great deal of expensive debt still. If I were them and had a choice of new players or getting rid of these horrendous PIK notes, I'd find the PIK notes very tempting.

      I think it comes down to the tension between (i) "our investment in Manchester United is a financial opportunity" and (ii) "our investment in Manchester United is because we want to help it win trophies."


      Robert