Paul Marin, how yuh stay? Still awaiting

[Lazie]

the financial fallout for Manchester United?


United posts record revenues


LONDON -- Fresh from winning a record-extending 20th English title, Manchester United showed it's successful off the pitch as well by posting record revenues while reducing its debts.
United said Thursday it is on course to generate more than 350 million pounds ($545 million) this season after earning a record 91.7 million pounds ($143 million) in the three months to March 31.
But the title triumph has come at a price, with the wage bill rising 25 percent year-on-year to 44.9 million pounds ($70 million) in the third quarter. Wages have risen due to the impact of new signings -- including Robin van Persie and Shinji Kagawa -- renegotiated contracts and the growth of United's commercial team, which also has a base in Hong Kong.
The club, which is owned by the American Glazer family, has reduced its debt to 367.6 million pounds ($572 million) -- a drop of 16 percent in nine months.
Net profit more than trebled year-on-year to 3.6 million pounds ($5.6 million) in the third quarter.
Red Devils executive vice-chairman Ed Woodward said: "Each of our three primary sectors - commercial, broadcasting and matchday - delivered strong top-line gains and helped us achieve a record third quarter for both revenue and adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization)." United's powerful commercial arm made a massive contribution to the results.
A rise of 31.9 percent on the corresponding three months last year means overall commercial income has gone up by 27.9 percent to ($178.3 million) over the full nine-month period.
The broadcast and matchday sectors show a 21.7 per cent and 34 percent increase on the corresponding three months respectively.
However, total operating expenses for the third quarter increased 18.6 percent year-on-year to 79 million pounds ($123 million).
Information from The Associated Press and Press Association was used in this report.

[Paul Marin]

the financial fallout for Manchester United?


United posts record revenues


LONDON -- Fresh from winning a record-extending 20th English title, Manchester United showed it's successful off the pitch as well by posting record revenues while reducing its debts.
United said Thursday it is on course to generate more than 350 million pounds ($545 million) this season after earning a record 91.7 million pounds ($143 million) in the three months to March 31.
But the title triumph has come at a price, with the wage bill rising 25 percent year-on-year to 44.9 million pounds ($70 million) in the third quarter. Wages have risen due to the impact of new signings -- including Robin van Persie and Shinji Kagawa -- renegotiated contracts and the growth of United's commercial team, which also has a base in Hong Kong.
The club, which is owned by the American Glazer family, has reduced its debt to 367.6 million pounds ($572 million) -- a drop of 16 percent in nine months.
Net profit more than trebled year-on-year to 3.6 million pounds ($5.6 million) in the third quarter.
Red Devils executive vice-chairman Ed Woodward said: "Each of our three primary sectors - commercial, broadcasting and matchday - delivered strong top-line gains and helped us achieve a record third quarter for both revenue and adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization)." United's powerful commercial arm made a massive contribution to the results.
A rise of 31.9 percent on the corresponding three months last year means overall commercial income has gone up by 27.9 percent to ($178.3 million) over the full nine-month period.
The broadcast and matchday sectors show a 21.7 per cent and 34 percent increase on the corresponding three months respectively.
However, total operating expenses for the third quarter increased 18.6 percent year-on-year to 79 million pounds ($123 million).
Information from The Associated Press and Press Association was used in this report.

Lazie, I am no financial genius, but it is pretty clear that you - along with the clown that wrote the above - knows nothing about accounting. The fact you would post this against my prior statements of Manu's flirtation with disaster shows how easily uninformed people can be impressed by information they don't understand. That said, I will say more power to the Glazers as they have achieved near infinite returns from buying the club with none of their own money and driving up the market cap. The Glazers have achieved a unique place in business - not just football business - but business generally to have gambled and won (albeit with other people's money) so spectacularly. That is irrefutable on the basis of current market cap. Any other investor/club trying to duplicate this model will likely end in disaster (for the fans mostly) as it is way above the odds they will have the success Manu** has achieved since the Glazers took over.

That said, what the article does not explain is the entire operation and the consolidated performance across all the holding companies. However, debt reduction is impressive and should be a number to continue to watch. Unfortunately however, it is unlikely you will see any more significant debt reduction as the outlook from analysts (and they may be wrong) is not good. For the current year, profit estimates for MANU are about 5p off per share from original estimates (-20% approx.); as a smart investor, I don't have to tell you that stocks that have an improving earnings metric are the ones you pay attention to, not ones that have a declining earnings metric. Simply put, the more money you make, the more money you have to pay off debt or invest. The less money you make, the less you have to pay off debt or invest. Either way, you and other investors who bought MANU at $12 should jump for joy. If you didn't buy back then, the stock is currently trading at $18.98, down a fraction on the back of your "stellar" earnings report. Terrific buying opportunity don't you think? Afterall, what the hell do the analysts know? Good luck!!

[Lazie]

Damnit Paul ... yuh cyaan keep yuh posts in 140 characters or less? You predicted the financial downfall of MU, well .......

[Paul Marin]

Damnit Paul ... yuh cyaan keep yuh posts in 140 characters or less? You predicted the financial downfall of MU, well .......

140 characters or less? The long posts are a result of being a 80 wpm typist and making an effort to educate you. But I understand, you don't read very quickly either, so it's a double edged sword.

I did not predict the "financial downfall" of Manu**...what I said was that Manu** was no different from Chelsea in that they are building their success on debt that *could* become unserviceable. If Manu**'s revenues were ever to slide backwards (e.g. due to a fall from the top 4) their debt could be a real problem. However, what is MOST LIKELY IMHO for Manu** is that they will be bought by very deep pockets that can afford to sustain the financial charade. None of us know the future, but prudent financial management requires careful attention to debt. Right now, Manu** appears to be able to afford its debt.

[Jangle]

Windmill caan spin as much hot air as you.

[Lazie]

Windmill caan spin as much hot air as you.

Di man mek Mitt Romney look like a novice.

[Paul Marin]

Windmill caan spin as much hot air as you.

Typical response. Unu don't understand the subject matter so unu start demagogue and denigrate. Classic. Unu should go work fi Portia...she woulda love unu. Too funny.

[Jangle]

....a who yuh a call ingrate?????

[Gamma]

Or if you cannot dazzle them with brilliance, bafe them with bull