Malcolm Glazer Dead

[LanDog]

Announced tonight, died at 85 years of age, there was a thought that he was the stumbling block to the club getting sold so it may be interesting to see what happens

 

[Slime]

It's very sad, but at 85 not that surprising.
Love him or not, he was a tremendously hard working man and his family have my sincerest sympathies.


Slime.

 

[Deleted member 18645]

Friend of mine was heavily involved with his NFL team and was on 5Live earlier tonight talking about him. He knew him really well and said he always came across as a really nice guy who just never wanted to be in the limelight. But you don't get that successful in business without making a few enemies on the way.

 

[HomerJSimpson]

Seems all his interest in the club already transferred to his sons year ago. Not sure the United fans always saw him in the same light as the guy waxing lyrical on 5live

 

[pbrown7582]

Seems all his interest in the club already transferred to his sons year ago. Not sure the United fans always saw him in the same light as the guy waxing lyrical on 5live

Only interest in club was as a cash cow he never even visited OT.

 

[Deleted member 15344]

Only interest in club was as a cash cow he never even visited OT.

Leveraged debt against the club as well - same as our two cowboys.

 

[CliveW]

Never can remember if he was Starsky or Hutch???

 

[harpo_72]

I don't understand the legality of leveraged debts, especially in the man Utd case. Surely the due diligence would have said he could not afford it or were they just thinking interest payments and let it go ahead

 

[Deleted member 18645]

I don't understand the legality of leveraged debts, especially in the man Utd case. Surely the due diligence would have said he could not afford it or were they just thinking interest payments and let it go ahead

So how did you buy your house? Get a mortgage?

 

[harpo_72]

So how did you buy your house? Get a mortgage?

I did not think this was the same, was he not borrowing against assets he had outstanding loans on ?

 

[Deleted member 15344]

I did not think this was the same, was he not borrowing against assets he had outstanding loans on ?

We had the same with Hicks and Gillette - both borrowed to purchase the club and then lumped those loans onto the club.

I woudlnt trust the "fit and proper" owner test

 

[harpo_72]

We had the same with Hicks and Gillette - both borrowed to purchase the club and then lumped those loans onto the club.

I woudlnt trust the "fit and proper" owner test

This is the difficult bit for me to understand because surely someone at some point doesn't know that it's borrowed money paying for it. What I am think is if I borrow money buy an asset then use that asset as security on another loan to buy another asset and keep doing this is there not going to be a collapse and surely the interest payments on these loans will be too high for me to cover ?

 

[Deleted member 15344]

This is the difficult bit for me to understand because surely someone at some point doesn't know that it's borrowed money paying for it. What I am think is if I borrow money buy an asset then use that asset as security on another loan to buy another asset and keep doing this is there not going to be a collapse and surely the interest payments on these loans will be too high for me to cover ?

For you yes - for the glazers they were able to pay the interest payments due to the amount of money Man Utd bring in - once those loans will be paid off they will sell for of a profit off well over £500mil plus

 

[harpo_72]

For you yes - for the glazers they were able to pay the interest payments due to the amount of money Man Utd bring in - once those loans will be paid off they will sell for of a profit off well over £500mil plus

But now it's looking a little weak is it not with no CL football ? It's too risky a strategy and shouldn't really be allowed.

 

[Deleted member 15344]

But now it's looking a little weak is it not with no CL football ? It's too risky a strategy and shouldn't really be allowed.

They will lose possibly around £30mil ? it will effect them a little but its a drop in the ocean when you look at all the other incomes they have