£90m in debt?

[seattle_wanderer]

So I was just reading Lawro's (sic) predictions on the BBC Sports site, where he casually dropped "However, the great worry is the club are about £90m in debt and might have to dismantle their team in the summer." Is this true? Can some kind soul point me in the direction of an accurate accounting somewhere?

Cheers

[Athers]

Explains a lot

http://swissramble.blogspot.com/2010/11 ... -debt.html" onclick="window.open(this.href);return false;

[CAPSLOCK]

With this the most pertinent bit

At least there is no immediate pressure from the banks, as the composition of the debt has changed in the last 12 months with almost all of it (£85 million) now owed to the club’s owner, Edwin Davies


So, while Sir Edwin lives and is happy, we're reet

Beyond that, who knows

[seattle_wanderer]

Thanks - that's exactly what I'm looking for... So who's next in-line at Moonshift, and is he as big a fan as Davies?

[truewhite15]

Coyle's said that he's not in the least bit worried about it, so neither am I. Surely the business will pass on to Our Eddie's eldest kid, who, if he's got his parenting right, has been brought up a Wanderer anyway. We're in no immediate danger, and while Eddie's no spring chicken, he's not exactly got the Reaper making house calls either, so no worries.

[Zulus Thousand of em]

And you must factor into the equation that Mark Lawrenson is a tosser. Never forget that.

[martin1877coywm]

Whatever Man Utd are 300 mil in debt

[thebish]

yeah - we are in debt - but the bit about having to dismantle the team in the summer is simply bollox. (unless we get relegated, that is)

[seanworth]

More to do with the inability to use his often used phrase "not sure where the goals are going to come from".

The man's a fool.

[Lord Kangana]

Whatever Man Utd are 300 mil in debt

And the f*cking rest.

[CAPSLOCK]

While that's true, Uniteds financial position is far better than ours

Don't lets be kidding ourselves

[TKIZ!]

Foolham are £160m in debt, didn't hear about them having to get rid of any of there players and they plan to put a statue of Mikey Jackson outside.

[martin1877coywm]

Our owner isn't that wealthy is al fayed though I think

[TKIZ!]

Our owner isn't that wealthy is al fayed though I think

He isn't but they still owe him the money in the same way we owe Eddie.

[Lord Kangana]

An estimated fortune of potentially $3bn suggests its loose change to the Wacko Pharoh.

[Armchair Wanderer]

Comparing the Man U debt with that of Bolton is a bit like comparing the UK debt with the debt of Portugal or Greece.

Should we have to pay it all back tomorrow we'd be in trouble, but let's cross our fingers we don't have to.

[Lord Kangana]

I thought it was all owed to Eddie Davies?

He'd be as fooked as we are if he demanded it back tomorrow.

[boltonboris]

I'm sure there'll be agreements in place that nobody can demand we pay it all back whenever he or his family click their fingers.. It'll probably be about £10 Million per year for the next decade..

It probably won't happen though

Still a lot to ask for a club of our size to pay that back!

[jaffka]

Thanks - that's exactly what I'm looking for... So who's next in-line at Moonshift, and is he as big a fan as Davies?

who knows, my money would be one Chineses Tanners or Brazilian Goat herders, following the example at out near inbred neighbours.

[bw@bw]

Repeating what I said on the Venkys thread a couple of weeks ago..............



In the short term I am delighted that Venkys have made such a hash of things.

But in the longer term it is worrying.

Williams (good guy methinks) spent years trying to find a buyer once the Walker Trusts had had enough- and in the end the only ones who would buy a Lancashire town Team -even in the PL - were Venkys - and that allegedly at a value of £40-odd million including debt.
I strongly suspect that the Walker trusts have lost a lot of money indulging Jack's hobby if that is all they ended up with.

Well- our debt is over double that - albeit mostly to Davies related entities - and so at some point we are sitting on a time bomb. I hope ED outlives me, and keeps his enthusiasm for the team.

Gartside or his successors will have a hard job persuading anyone to fork out £90m for a club (whose neighbours are two of the richest in the world), a nearly new stadium and a hotel.

Not sure that the Davies family willl look forward to about £50m of their inheritance disappearing.

If Venkys lose a fortune at the money they paid (even through their own stupidity) - it will make the job of finding a buyer here well nigh impossible.

Especially if - as seems very likely - another Lancashire town team noted for pies could also end up having cost its benevolent (ha!) owner the thick end of £50m when they go down this year.

Lets enjoy the party while it lasts - and hope that OC can keep defying the laws of football economics - whilst all the top jobs remain the preserve of latin super-coaches.