Wednesday, 25 May 2011

Manchester United have lots of money

We all thought Manchester United were in huge debt and unable to really spend in the transfer market but guess what STOOPID? Well we were all wrong and according to sources, they have what economists call, a shit-ton.

United have already confirmed the signing of David de Gea and for some reason it appears Ashley Young is the next to be signed. Oh and it won't stop there. With funds expected to peak at about £160m, expect Sir Alex to go out and get the very best players available. Players like..............Ashley Young. What?

From le Guardian, the only newspaper I trust -
According to Manchester United's most recent accounts, the club have £113m in the bank. That has fuelled suspicions that the owners will withdraw some of it in dividends but insiders claim it is there for transfers and to guard against unforeseen events.
That figure is expected to rise to more than £160m by the end of the summer, if it follows the pattern of previous seasons, once season-ticket revenue for the coming season is banked. Despite racking up a record pre-tax loss of £109m last year, much of that was attributable to one-off costs associated with a £500m bond issue.
Being quite stupid, I don't really understand this. I have been reading for years about Manchester United's financial problems, how the Glazers came in and bought the club with borrowed money and even passed all their debts onto the club, debts of hundreds of millions. Now I hear that none of this matters because, they just don't really care.

This is a huge revelation for me, I don't care much for debt either so this is fantastic news. I'm going to apply for every credit card possible and go spend the next few years travelling the world on borrowed money. Dining in the fanciest restaurants, drinking the finest wines and having sex with the most expensive prostitutes credit can buy. As my debt grows into the thousands I'll simply shrug my shoulders and open another bottle, this ones for you Malcolm Glazer.