Re: Ownership Saga [R] I recall reading that Man Utd had never counted certain revenues (certain licensing rights, jersey sponsorship, etc) towards their turnover ... and that if they did, their operating profit would look even better than Real Madrid's over the past year ... I cannot put my finger on it yet. In any event, press accounts have credited the Glazer deal with restoring the fortunes of Man Utd's profitability rather than the other way around. The debt restructuring that was done with http://ukpress.google.com/article/ALeqM5jtrsiUFkPudBxJ7FpNjbeNIV4TnQ The debt borne by Man Utd FC is approximately £250m (out of £660m total). The Glazer family apparently bears responsbility for the remainder: http://sport.scotsman.com/malcolmglazer/Manchester-United-profits-fall-by.2745101.jp Even with the debt servicing costs of £62m/yr the team is apparently extremely profitable. I don't know if the team pays dividends to the Glazers out of its operations (I read a report that this is how LFC's American owners will partially cover their own interest payments on the notes). How that money is accounted for (part of operating costs or shown separately as paying down long-term debt) is a big factor in how much the debt is actually saddling the club.
Re: Ownership Saga [R] The thing that G&T and the Glazers are counting on is the increased revenue by the new TV deals which has just kicked in. There is substantially more prize money on offer also from the CL. There is every expectation that this will go up again during the next TV contract negotiations. Also the rights to Internet content is going to blow up as well. Live streaming of matches on a PPV over the internet will be something the clubs will consider offering themselves. If all else fails and either club is in dire financial straits the owners would threaten to break out of the colective TV rights agreement for the Premiership and forge a solo agreement. In such a scenario Man U or Liverpool would earn a lot more from TV revenues than currently and would move into the order of magnitude of the deals that Barca and Real are enjoying. This would f@ck up the entire Premiership though so would only be done as a last resort.
Re: Ownership Saga [R] What is interesting to me is to what extent the Glazers have themselves paid into Man U. As I understand it, the big spending undertaken by Man U since the takeover has largely been paid for by ticket price increases at OT of up to 40% in 3 years! Now the Glazers and G&T have extensive experience of buying companies and making money from them. It is clear that they will have had teams of financial experts looking at the money streams to calculate profit margins and expected returns etc before making the purchase. They must have worked out that it will work out good for them financially long term. Of course they may have made a mistake somewhere in their calculations.
Re: Ownership Saga [R] True But most American sports franchise owners do not anticipate securing profits out of the operations of their teams as much as they anticipate gains through increased value of the team. Now I am sure one of the things that makes EPL teams attractive to American Sports business investors is the greater likelihood of significant operating profits. But that is not the crux of the issue. They can still derive cash flow from the team (even if they are not making an operating profit) through lines of credit against their equity in the team. But it is increased valuation that is the real wealth-engine. George Steinbrenner is a key example. He parlayed something like $30m (original purchase price of the NY Yankees) into a team worth upwards of $1bn US in less than 40 years of ownership. That is an enormous ROI. Even owners of regional teams (Carl Pohlad (sp?) of the Minnesota Twins) can make a killing - when they sell the team. But unless they have the cash flow to handle operations - it can be tough to stay in the game while value increases. The key driver in this continuing upward valuation is guaranteed future revenues via escalating television contracts and revenue sharing (esp in US sports).
Re: Ownership Saga [R] The debt is an necessary evil. The EPL is a different animal than american sports where you can rake in huge profits by being mediocre. If you don't have success on the field, the money isn't going to follow. I hope G&H are smart enough to understand that, and understand that continued investment in the team is necessary to maintain that success.
Re: Ownership Saga [R] Slightly off-topic from our club but I thought I would just highlight the news that Derby County are being taken over by Americans. This will be announced on Monday. Once this is completed then by my reckoning half of the current Premiership clubs will be owned by foreigners. Liverpool, Man U, Aston Villa, Derby County - Americans. Chelsea - Russian Portsmouth - Israeli/French Fulham - Egyptian West Ham - Icelanders Sunderland - Irish Man City - Thai It should also be noted that Birmingham were very close to be taken over by Chinese businessman Carson Yeung although this fell through. Blackburn are rumoured to be takeover targets and Spurs are apparently positioning themselves for a takeover in a few years from now. Arsenal have a large foreign stakeholder as do Everton. It is clear that football clubs in England (primarily Prem clubs) are now exceedingly attractive to foreign investors. There must be financial reasons for this in the current and estimated future financial climate. In the past Football clubs were notoriously difficult to avoid running at a loss so something must have changed that. The implications for Liverpool are that in the event of G&T wishing to sell the club in the future there will likely be numerous suitors.
Re: Ownership Saga [R] goto iraq and afghanistan, thats anti americanism. lol do you think the world loves you? lol seriously there is more anti english in your ************ hollywood movies like The Patriot so ********in take it b*tch
Re: Ownership Saga [R] that bothers you and you're a Roma supporter? then this shite must drive you fookin nuts
Re: Ownership Saga [R] I know that, but, as a Roma supporter our friend must surely have experienced those brainiacs -- that photo was from Stadio Olimpico
Re: Ownership Saga [R] For those who are interested, Hicks is due to give an interview on BBC Radio 5 Live! at 0900hrs GMT. I think it's also available through the internet and even as a podcast for those who may have missed the live interview. Should be interesting.
Re: Ownership Saga [R] Yep. Peter Piper picked a pack of pickled peppers. Peter Piper picked a pack of pickled peppers. Peter Piper picked a pack of pickled peppers.
Re: Ownership Saga [R] (for the benefit of the underinformed: many LFC supporters were shocked that our owners seriously considered handing the club off to Klinsi (let alone how the entire fiasco was handled)) Sepp Maier weighs in:
Re: Ownership Saga [R] The repetition of the same sounds or of the same kinds of sounds at the beginning of words or in stressed syllables http://dictionary.reference.com/browse/alliteration
Re: Ownership Saga [R] That's a broader definition than I've seen. I always thought it was the repeated initial consonant sound. google.com define:alliteration is a mish-mash of defo's...
Re: Ownership Saga [R] Exactly -- thats why talking to him was doubly stupid -- he's not qualified and he can't keep his mouth shut. Oh and it screws up your manager and team relationships.
Re: Ownership Saga [R] Maier can be a bitter old man. There are tons of people unhappy about his appointment, most are people that have had personal disagreements with Jurgen in the past.
Re: Ownership Saga [R] The beginning of words or their stressed syllables. EDIT: YNWAYNWA beat me to it.