Welcome, Guest
Pewter Report  >>  Boards  >>  The Red Board (Moderators: 3rd String Kicker, PRPatrol)  >>  Topic: Manchester United Finances « previous next »
Page: 1 2 3 ... 6

mjs020294

******
Hall of Famer

Posts : 2245
Offline
: May 10, 2008, 09:31:48 AM

I think the numbers being released by Red Football Joint Venture Ltd have a lot to do with the Glazers negating the tax system on either side of the Atlantic.


mjs020294

******
Hall of Famer

Posts : 2245
Offline
#1 : May 10, 2008, 09:20:37 AM

Could Manchester United's financial troubles explain some of the Bucs recent moves? Lack of free agent spending and jacking up ticket prices over 30%. This was pointed out in the Times this morning too. The Glazers have a history of being pretty slimey. It's no big secret that they made their money as slum lords.

http://www.tampabay.com/sports/soccer/article497739.ece

It would help if the damned local hack had a clue and knew the facts:

Manchester United has seen its annual pre-tax profits double on the back of increased sponsorship, the expansion of its stadium and its winning of the Premier League.

The figure for the 12 months to June 30 rose to $120m from $60m 12 months before, it has revealed.

The 2006-2007 Premiership winning club, owned by US billionaire Malcolm Glazer, also said annual turnover surged to $590m, from $330m.

It claims these results make it the world's richest soccer club again - an honour held by Spain's Real Madrid for the past two years. 

And interest in the world's richest soccer League and new sponsorship will keep pushing income higher, Chief Executive David Gill has claimed.

The club claims to have some 330 million supporters around the world, almost 140 million of them "active" and of whom 83 million are based in Asia.

More seats at Manchester United's Old Trafford stadium helped the club lift its match day takings by 30% percent to $185m.

Reaching the semi-finals of the money-spinning UEFA Champions League and the final of the FA Cup helped the Reds increase their media revenues by more than a third to $123m.

Replica shirts, shirt sponsorship by American International Group (AIG) and other commercial deals rose 15% to $112m.

At a time of soaring players' salaries, the club managed to cut its wages-to-turnover ratio to 43.6%, from 51.6%.


http://news.sky.com/skynews/article/0,,30400-1300232,00.html


BTW - United are on the verge of winning the EPL again, and they are also in the final of the European Champions League.  If they win both trophies the profits for 2007-2008 will probably jump up by another $50 million.




gdavis

****
Starter

Posts : 849
Offline
#2 : May 10, 2008, 08:49:13 AM

Could Manchester United's financial troubles explain some of the Bucs recent moves?  Lack of free agent spending and jacking up ticket prices over 30%.  This was pointed out in the Times this morning too.  The Glazers have a history of being pretty slimey.  It's no big secret that they made their money as slum lords. 

http://www.tampabay.com/sports/soccer/article497739.ece

Those PlayStation All-Americans up there thinking they know football because they watched a game on TV.
--B. Bowden

MBF

******
Hall of Famer

Posts : 8310
Offline
#3 : May 10, 2008, 09:06:09 AM

"Could Manchester United's financial troubles explain some of the Bucs recent moves?"

Nope.

Uncle Stan

*
Hall of Famer
******
Posts : 17314
Offline
#4 : May 10, 2008, 12:36:13 PM

Why does this keep coming up about Manchester United and the Bucs?

The 2 entities are not connected in ANY way at the insistence of the NFL. Funds from one can not be used for the other. This was made very clear at the time the Glazers bought Manchester and was a condition of the purchase.

Learn to disagree without being disagreeable-Ronald Reagan circa 1981

Biggs3535

*
Hall of Famer
******
Posts : 31381
Online
#5 : May 10, 2008, 12:39:35 PM

Why does this keep coming up about Manchester United and the Bucs?

Many uneducated posters is the simple answer.


BTownBucFan

*
Hall of Famer
******
Posts : 5824
Offline
#6 : May 10, 2008, 12:51:28 PM

OMG

mjs020294

******
Hall of Famer

Posts : 2245
Offline
#7 : May 10, 2008, 12:55:46 PM

The 2 entities are not connected in ANY way at the insistence of the NFL. Funds from one can not be used for the other. This was made very clear at the time the Glazers bought Manchester and was a condition of the purchase.

You have to be a little naive to think the two entities have no connection in the eyes of the Glazers.  They have earnings expectations, and the flexibility to draw their income from any of their businesses.  If they need $50 million a year as a family and Man United makes no profit then they will draw the entire amount from the Bucs if it is available there.  So although the two franchises do operate independently their results are linked.

That being said I highly doubt the finances of the Bucs have been effected by Man United finances thus far.  They made a huge operating profit last year, and it will rise significantly this year as well.  The numbers released by the holding company is more to do with tax accounting.




Uncle Stan

*
Hall of Famer
******
Posts : 17314
Offline
#8 : May 10, 2008, 01:51:38 PM

Call me naive. I honestly do not believe the Glazers would be stupid enough to even attempt to take money from the Bucs and give it Manchester. If they did and were caught, they could stand to lose the Bucs and I don't think that's a viable option. They have plenty of money in their other endeavors to put $ in Man U, if needed.

Learn to disagree without being disagreeable-Ronald Reagan circa 1981

finnbluebucs

*
Hall of Famer
******
Posts : 5063
Offline
#9 : May 10, 2008, 02:17:55 PM

Could Manchester United's financial troubles explain some of the Bucs recent moves? Lack of free agent spending and jacking up ticket prices over 30%. This was pointed out in the Times this morning too. The Glazers have a history of being pretty slimey. It's no big secret that they made their money as slum lords.

http://www.tampabay.com/sports/soccer/article497739.ece

It would help if the damned local hack had a clue and knew the facts:

Manchester United has seen its annual pre-tax profits double on the back of increased sponsorship, the expansion of its stadium and its winning of the Premier League.

The figure for the 12 months to June 30 rose to $120m from $60m 12 months before, it has revealed.

The 2006-2007 Premiership winning club, owned by US billionaire Malcolm Glazer, also said annual turnover surged to $590m, from $330m.

It claims these results make it the world's richest soccer club again - an honour held by Spain's Real Madrid for the past two years. 

And interest in the world's richest soccer League and new sponsorship will keep pushing income higher, Chief Executive David Gill has claimed.

The club claims to have some 330 million supporters around the world, almost 140 million of them "active" and of whom 83 million are based in Asia.

More seats at Manchester United's Old Trafford stadium helped the club lift its match day takings by 30% percent to $185m.

Reaching the semi-finals of the money-spinning UEFA Champions League and the final of the FA Cup helped the Reds increase their media revenues by more than a third to $123m.

Replica shirts, shirt sponsorship by American International Group (AIG) and other commercial deals rose 15% to $112m.

At a time of soaring players' salaries, the club managed to cut its wages-to-turnover ratio to 43.6%, from 51.6%.


http://news.sky.com/skynews/article/0,,30400-1300232,00.html


BTW - United are on the verge of winning the EPL again, and they are also in the final of the European Champions League.  If they win both trophies the profits for 2007-2008 will probably jump up by another $50 million.




They won't win either mjs because we're gonna beat them in both ;)

\"We are frustrated at not making the playoffs. It is a good start. That is all it is. It is a good start for something that we are going to be in the future. - Josh Freeman

finnbluebucs

*
Hall of Famer
******
Posts : 5063
Offline
#10 : May 10, 2008, 02:19:39 PM

If anything, the Bucs are a drain on the Glazers' fortunes with Man United.

\"We are frustrated at not making the playoffs. It is a good start. That is all it is. It is a good start for something that we are going to be in the future. - Josh Freeman

gdavis

****
Starter

Posts : 849
Offline
#11 : May 10, 2008, 04:09:33 PM

You people can't be that naive.  The same people own both franchises.  You don't have to be a CFO to understand struggles at one corporation will influence decisions made at the other corporation.  It's really simple profit and loss.  The less their expenses are with the Bucs(salaries), the higher their revenue(ticket prices), the higher their profits.  This means more more in their pockets.  They need the extra money or capital to get out of debt in Manchester.  At the end of the season or fiscal year, where do you think their profits go?  In an account specifically for the Tampa Bay Bucs?  Hell no!  They are their profits.  They can go buy another house in Boca, they can pursue another venture or they can use those profits to releive debt at an already existing business....Manchester United.   

Those PlayStation All-Americans up there thinking they know football because they watched a game on TV.
--B. Bowden

cyberdude557

******
Hall of Famer

Posts : 11834
Offline
#12 : May 10, 2008, 04:19:41 PM

The only time the NFL would actually care would be if the Glazers are using the profits from the Bucs to fund Man U. The league would most likely consider that a conflict of interest.

The Q

*****
Pro Bowler

Posts : 1842
Offline
#13 : May 10, 2008, 04:38:05 PM

I just love reading the posts of idiots or morons trying to tell billionaires how to spent their money.



The BUCS are gonna surprise people this year!

bucjoe

*
Hall of Famer
******
Posts : 15655
Offline
#14 : May 10, 2008, 04:45:22 PM

There is no question that their books and checking accounts are kept separately.  That is a requirement of all good accounting and the NFL would require it.  Also, if the Bucs are a corporation, the profits cannot just be "drawn out" to be used however they want to.  They have to be paid out in the form of dividends, and that creates the "double taxation" situation corporations hate, and is unfair taxation, in my opinion.  The dividends are not deductible as an expense so the Corporation pays taxes on the profits, then when the dividends are paid out, the recipient has to pay taxes on those amounts again.

Are the Bucs a corporation?  I'm sure they are because to the legal protections of a Corporation.i

.....just my opinion
Page: 1 2 3 ... 6
Pewter Report  >>  Boards  >>  The Red Board (Moderators: 3rd String Kicker, PRPatrol)  >>  Topic: Manchester United Finances « previous next »
:

Hide Tools Show Tools