Told you so, Man U aren't a sexy looking investment.Big Red' Fred Done comes out in support of his 'local' club:
Fred Done, one of Manchester United's biggest fans in the business community, says he believes the club is too deep in debt and has declared that he will not be investing in the £500m bond issue launched by owners the Glazer family.
Done the 4th richest man in the North West along with brother Peter made his £510m fortune through the Betfred franchise, which is Manchester United's former official betting partner.
Done told Crain's he was worried about the club's finances but advised investors not to touch Manchester United's bonds. He said: "As an investment, I would not touch it with a barge pole.
"I am seeing empty corporate boxes, I am seeing empty seats and there are tickets on open sale which you did not see a year ago."
He added: "I am seeing cracks in the team. It's just debt ridden. As a supporter it saddens me. I hope we do not go the way of Portsmouth."
"I would like to know how much equity the Glazers have put in the club. I do not think it's very much."
Manchester United's bond issue is designed to refinance the £712m worth of debt resulting from the takeover of the club in 2005 by the Glazers, a family of US leisure entrepreneurs.
Could this be OT in a few years?
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Thread: Man U in trouble
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Man U in trouble
Last edited by lBlue; 17-01-2010 at 12:12 AM.
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Haha about time. For so long its just been how much trouble Liverpool are in, dont get me wrong we are in trouble but not as much as them.
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We will get ourselves out of this mess.
OOPS I DID IT AGAIN..
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You do that!
Originally Posted by United-Clowgon
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17-01-2010, 12:26 AM #5
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Haha that picture is amazing
Thought i would visit..
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He does loads. Originally Posted by Joe Hart
He does loads, really good. Originally Posted by Joe Hart
(after the Leeds game when you could see his nose hairs)
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What is with Tevez's dance? I wish he'd stop it, it's embarrassing.
I'd be extremely surprised should United go under. Besides, if they really struggle they could just sell OT.Last edited by Browney; 17-01-2010 at 10:42 AM.
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the pictures made me laugh
I hope they get whats coming to them without worming their way out of itI love it when youflex like that
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Do you think the fa would let any team in the premier league go under? Originally Posted by Browney
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they let leeds go under :S! Originally Posted by Jack.Lfc
I love it when youflex like that
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