Can one of you City types (Tricky?) explain how it is that Glazer's takeover

will "saddle Man U with ?500m of debt"?

The papers seem to be suggesting that Glazer borrows the money to buy the shares, takes over, and then gets the club to pay off his loans. But (a) that would amount to the company paying to acquire its own shares, wouldn't it? And that's banned in English law; and (b) unless he actually TRANSFERS his own debts to Man U (which would be v difficult) then they remain HIS debts, not the club's - it's just that he would divert revenue from the club which would otherwise be used for footballing purposes towards his own coffers and use it to pay off his debts?

Posted By: Old Git on May 13th 2005 at 10:20:51

Message Thread

Can one of you City types (Tricky?) explain how it is that Glazer's takeover (Other Football) - Old Git, May 13, 10:20:51
- he can settle his personal debt on the company (Other Football) - Brendon Fearon, May 13, 10:37:15
  - it's not all random debts of his (Other Football) - Brendon Fearon, May 13, 10:53:36
    - oops - meant to reply to og (n/m) (n/m) (Other Football) - Brendon Fearon, May 13, 10:53:59
  - I don't think he can actually (Other Football) - Old Git, May 13, 10:39:43
    - I think when every city expert says he can do this then he probably can nm (n/m) (Other Football) - earlydoors, May 13, 10:55:03
- well i'm not a city type but from what i can gather (Other Football) - dantheman, May 13, 10:28:54
  - As I understand it... (Other Football) - Braindrain, May 13, 12:37:32
  - And therefore... (Other Football) - Jono, May 13, 10:31:41
    - yep, could sell the whole team if he wanted to (n/m) (Other Football) - Gus Poyet 26, May 13, 10:32:34
- I'm not yer man I'm afraid (Other Football) - Tricky Hawes, May 13, 10:28:04
- he can do what he wants now, he owns the place (Other Football) - Gus Poyet 26, May 13, 10:26:44

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