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People who aren't renewing

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UpTheDuff said:
Liverpool probably the most high profile example of where buying a club with its own money almost led to financial collapse, or as this article calls it, the brink of insolvency.

“The most infamous example of how an ill-fated leveraged buyout can bring a club to its knees is Liverpool F.C., one of the most decorated clubs in the history of European soccer and the current defending Premier League champions. In 2007, American investors Tom Hicks and George Gillett acquired Liverpool in a deal that saddled the club with
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. When, in the post–financial crisis credit crunch, the owners found themselves unable to refinance that debt, it led to a downturn in the club’s fortunes that
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among Liverpool fans and eventually drove the club to the
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. In the end, only a to the club’s current (and also American) owners, Boston-based Fenway Sports Group, saved Liverpool from that brink.”


The link about brink of insolvency goes to this article:

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Man United?
If people are going to be paying £hundreds more a year for their energy, there's bound to be some who'll have to bin their cards.
 
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Weremuthe said:
Man United?
If people are going to be paying £hundreds more a year for their energy, there's bound to be some who'll have to bin their cards.
Click to expand...

Man U haven’t been on the verge of financial ruin. Always enough people in China etc who buy their merch and watch their games that their commercial income will still be massive. Ticket revenue is not that big a deal to the global superclubs.

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UpTheDuff said:
Man U haven’t been on the verge of financial ruin. Always enough people in China etc who buy their merch and watch their games that their commercial income will still be massive. Ticket revenue is not that big a deal to the global superclubs.

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Click to expand...

I was referring to the way the Glazers financed it

"Most of the capital used by Glazer to purchase Manchester United came in the form of loans, the majority of which were secured against the club's assets, incurring interest payments of over £60 million per annum. The remainder came in the form of
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(payment in kind loans), which were later sold to
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. Manchester United was not liable for the PIKs, which were held by Red Football Joint Venture and were secured on that company's shares in Red Football (and thus the club). The interest on the PIKs rolled up at 14.25% per annum. Despite this, the Glazers did not pay down any of the PIK loans in the first five years they owned the club. In January 2010, the club carried out a successful £500 million bond issue, and by March 2010, the PIKs stood at around £207 million. The PIKs were eventually paid off in November 2010 by unspecified means. In August 2012, as part of further refinancing, the Glazers sold a number of shares in Manchester United in an (IPO) on the (NYSE)."

 
molthemackem said:
No still using the season cards up but if there is no change by the time the 3rd June comes around with the ownership then we not renewing. Other years 20+ is been DD renewal but after the Covid season we have just paid at the ticket office up front. What was once a pleasure to go , and I been over the past 50+ years to some real shit seasons, We took the decision after the fiasco at the end of January (the Friday Night Alex Neil was appointed funnily enough) that enough was enough. Yes , we will still support the lads just not monetarily anymore.

We're just about to take out a season at Durham CC, only ever been once before but it certainly will not be any worse than the way my club is being run at the minute. Of course, there could still be a change of mind IF KLD or another party does take full control of SAFC that looks competent , doesn't lie through their teeth, really means to engage, lloks like they know what they are doing, do not us philosophy to bull shit with the supporters and give a forward looking plan that we (our 8) could go with. The way it is at the minute, it is more frightening than at any other time I have witnessed or seen supporting the lads
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All the folks not renewing like your group should all individually email the club letting them know that you won't be renewing together with your reasons. If we don't go up this season and then thousands of genuine emails arrive withdrawing support it might focus the minds of the ownership group to try and agree a deal that works for everyone.
 
garyswc said:
All the folks not renewing like your group should all individually email the club letting them know that you won't be renewing together with your reasons. If we don't go up this season and then thousands of genuine emails arrive withdrawing support it might focus the minds of the ownership group to try and agree a deal that works for everyone.
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Emailed 9 weeks ago mate on SAFC.Com.....Not a word...have them all of my contact details too.. They either don't give damn or they are just not interested despite saying the contrary.
 
Weremuthe said:
Man United?
If people are going to be paying £hundreds more a year for their energy, there's bound to be some who'll have to bin their cards.
Click to expand...
No question about it, this year is going to financially tough. Difficult decisions will have to be made, deciding wether or not to shell out £400 to watch the dross currently on offer at the SoL is one of the easier ones.
 
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