30-03-2023, 07:18 PM
(30-03-2023, 06:48 PM)Cleaver Greene Wrote: Following the 2.9M thread I am slightly confused.
When we were up to out ears in Debt, the banks or whoever we owed money to wanted thier money back.
We had a wholesale get rid of players and to try and reduce the debt and pay creditors. Points deductions etc. etc. I dont need to go into detail, we all know what happened next.
What I am confused about is that Manchester F***ing United have announced they are £1bn in debt.
https://www.bbc.co.uk/sport/football/65131177
How come they are not subject to the same rules we were back in the day?
I'm sure the more knowledgeable of you out there can explain the difference?
Or is it one rule for that so called "big club" and one rule for everyone else.
They have not been given a couple of months to pay their debts back to the bank.
Running on debt is a standard football club model, we were no different to anyone else in that respect, but that debt has to be sustainable and backed by someone. That way the banks are happy to lend the money. But when your backer's father is arrested by Interpol in the middle of a world recession they can panic.