Football Finance
- Thread starter King Binny
- Start date
- Latest activity Latest activity:
@Beamrider how perilous do Man U look? Which ever lender decides to refinance this £200m, the fees and rates will be high.
They're totally fine, for now. Per their last accounts they had £200m of bank facility undrawn and around £60m in the bank. So these instalments are covered, but they will need to raise cash for the next ones. Normally clubs try to match spending with incomings from sales, but they did't have much income coming in per those accounts.
Long-term they need to get a handle on their cash flows, but they've got facilities to cover this, which I'm sure they knew before they committed to the spending.
But we can see them starting to tighten the purse strings:
- Redundancies
- Taking a load of flak for a relatively minor (for the club, anyway) ticket price increase
- Playing a cagey game over committing to their stadium plans (they can fuck right off if they think they won't be paying for that themselves).
Point is that they're not spending with abandon any more.
But they need to shift a lot of dead wood.
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