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The history of Manchester United's debt 24 May 2013 | 08:47 pm
Last night United announced to the New York Stock Exchange that it was repaying around half of its outstanding bonds using a new bank loan from Bank of America. This will reduce the club's interest bi...
£500m of costs later, could we see a debt free Manchester United again? 8 Feb 2013 | 03:55 pm
For almost eight years, Manchester United has been subject to a financial experiment to see whether a highly leveraged buyout could “work” on a football club. The only other experiment, at Liverpool, ...
MCFC's financial results - waiting for BT to ride to the rescue 18 Dec 2012 | 01:54 pm
City's 2011/12 annual report and accounts contains the usual mix of giddy blueness (apparently more people choose to be City than United when playing EA Sports FIFA 2012 - wow), photos of blue Santas ...
Manchester United's shares in issue: a quick guide 21 Aug 2012 | 04:02 pm
The news that George and Robert Soros own 3,114,588 shares in Manchester United has led to some confusion about the number of shares the club has and hence the relative size of this stake. This is a q...
The MUFC IPO - why the club won't benefit for over two years... 10 Aug 2012 | 10:29 pm
So the Manchester United IPO has finally happened. Having failed in Hong Kong and Singapore, the Glazers and their increasingly desperate bankers ditched their own ludicrous $16-20 per share price ran...
An apology to Sir Alex and a restatement of the fundamental issues 3 Aug 2012 | 02:21 pm
Sir Alex Ferguson Readers will no doubt have seen Sir Alex Ferguson's statement that he will not benefit financially from the IPO. As one of the people suggesting he was likely to participate in the ...
The Red Issue Forum letter to Sir Alex Ferguson 31 Jul 2012 | 02:22 am
This letter was written by long standing United fans who post on the Red Issue Main Forum, I didn't have any part in writing it but would be happy to sign it. I post it here in the hope that it recei...
Why have the Glazers changed their strategy on the debt? A theory.... 12 Jul 2012 | 07:10 pm
The big news in United's "preliminary prospectus" (the Form F-1 SEC filing) was 1) that the proceeds from the IPO will be used to repay some of the club's enormous debt and 2) that no dividends will b...
The Manchester United IPO some initial observations 5 Jul 2012 | 10:42 pm
There’s been a lot written about Manchester United’s proposed listing on the New York Stock Exchange (“NYSE”) since it was announced on Tuesday night by the filing of an SEC Form F-1 (the document is ...
Manchester United Q3 2012 results: getting hard to square the circle 18 May 2012 | 09:53 pm
Since United had its bond issue in early 2010, the club has reported increased year-on-year revenues every single quarter. This revenue growth has more than offset rampant wage inflation. Meanwhile of...
