That was honestly the first time I've heard of IMUSA, thought it was only MUST. I was wondering about these two:
a policy of non-engagement with supporters groups life long supporters priced out
I don't really know what was the club policy on supporters group before and if that has changed. The second part - priced out as in the tickets got more expensive? Because that was covered. And I don't think any business cares about you being a supporter from 2 or 20 years, it's not like I ask for a discount cause I've had a Samsung for the last 10 years.
I wonder what these organizations will do once the debt is paid
To be fair they've got half a point about not engaging with fan groups, but that still hold a fans forum 4 times a year where representatives of different demographics are free to make their points. The avoid the actual fan groups because they've been trying to go to war with them for the last 10 years.
Supporters being priced out is a real thing, the question is where you lay your blame. Ticket prices went up by ~30% in the first 2 years for the takeover - however I've heard the first increase was already planned and sanctioned by the plc, whether that was true or not I've no idea. The question is how much they'd go up anyway? From 2001 to 2013 the average Premier League season ticket went up by 63%, United's went up by 59% and we now haven't had a price increase since 2011.
The one area where I can agree is the automated cup scheme, forcing season ticket holders to pay for cup tickets is what priced a lot of people out.
I have no problem with people's opinions on the Glazers, no matter how bad that opinion is, but what I can't stand about these fan groups is the way they talk as if they're a mouthpiece for the entire fanbase. Duncan Drasdo is the worst of the lot.
As long as you have a legitimate reason I'm fine with them too, just shouting out "Glazers out" doesn't really make sense. I don't pretend to know anything about the club's finances and ownership, but that's why we have you
Drasdo actually approached us a few times asking to promote his causes and events and I was like ummm.... nah.
But yeah, like you said, chances are ticket prices were going to increase anyway. It's like arguing that we would have been better off with other owners than the Glazers - we'll never know.
I don't give them any money so I don't really care who feeds the parasite any more. The money I used to spend I shoved into FC United, I'd rather watch that little kettle come to the boil, get far more enjoyment. Glazers can fuck off, die or not, it simply doesn't effect me because I don't let it. Simples.
Me, I'm a third generation red, family originally from Salford, first game at four for me. Where the fuck are you from?? I played throughout the North West U18 leagues, had trials for MCFC at one point, played in the same youth side as David White and Paul Lake - wasn't good enough for that lot and United didn't even bother scouting their own backyard back then.
I Followed them home and away through teens and twenties, then just home, followed them right up until the takeover (had more than a few lean periods when things were tough, like most fans). I'm genetically indoctrinated to keep an eye on them, plus, LVG makes it even more interesting, me being a historical fan of the Dutch national side and whatnot.
But I'll be fucked if I'm handing over wads of cash to globalist parasites - I'll just wait till they've sucked what they want out and fuck off onto the next thing. Or, wait till the football bubble bursts in this country - which it will (and sooner the better for me) - and watch them move on. Club will still be there long after entities like that have gone.
You never know, things may even change in the future, we might even end up learning a thing or two from the German model (lmfao we will).
No, it means I was brought up with it all, lived it all from birth, lived the changes. I grew up in the footballing culture of North West England, as well as it's politics and the wider politics of the country, it's part of who I am, cultural identity. etc, etc.
Yeah, it's a little strange; I'm not sure why they're doing it like that. I'd assume it was the only way they could significantly reduce the APR.
Full SEC release for anyone interested.
Manchester United Announces Refinancing of Senior Secured Notes May 27, 2015 04:26 PM Eastern Daylight Time
MANCHESTER, England--(BUSINESS WIRE)--MU Finance plc, a subsidiary of Manchester United plc [NYSE:MANU], has today announced that it intends to issue a notice of redemption for all of its outstanding US dollar 8.375% notes due 2017 (the “2017 Notes”) on May 28, 2015. Funding for this bond redemption is to be provided by the issuance of new 3.79% Senior Secured Notes due 2027 (the “Notes”) to certain institutional investors. The Notes offering is expected to close on or about June 26, 2015, subject to satisfaction of customary closing conditions. In addition, MU Finance plc is entering into an amendment and restatement of its loan facility with Bank of America Merrill Lynch International Limited.
These transactions are expected to result in an interest reduction of approximately $10 million per year. On a pro forma basis, annual interest is expected to represent less than 4% of our fiscal year 2015 estimated revenue.
Our obligation to redeem any of the 2017 Notes on June 27, 2015 will be conditioned upon the completion of a financing transaction, including the Notes offering. This announcement does not constitute a notice of redemption for any of the 2017 Notes. The formal notices of redemption are being provided separately in accordance with the terms of the indenture governing the 2017 Notes.
The Notes are being offered and sold pursuant to an exemption from the registration requirements under Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”), and Rule 506 of Regulation D promulgated thereunder. The Notes have not been registered under the Securities Act or applicable state securities laws. Accordingly, the Notes may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
FORWARD LOOKING STATEMENTS
This press release contains statements which constitute forward looking statements. These forward looking statements are based upon Manchester United’s present intent, beliefs or expectations, but forward looking statements are not guaranteed to occur and may not occur for various reasons, including some reasons which are beyond Manchester United’s control. For example, this press release states that the amended and restated secured term facility and the offering of the Notes are expected to close on or about June 26, 2015 and that the 2017 Notes are expected to be redeemed on June 27, 2015. In fact, the closing of these transactions are subject to various conditions as are customary in such transactions in the United States. If these conditions are not satisfied, such transactions may not close. For this reason, among others, you should not place undue reliance upon the forward-looking statements. Except as required by law, Manchester United undertakes no obligation to revise or update any forward looking statements in order to reflect any event or circumstance that may arise after the date of this report.
Contacts Investor Relations Samanta Stewart Manchester United Ltd +44 (0) 20 7054 5928 or Press Enquiries Jim Barron Sard Verbinnen & Co +1 212 687 8080