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Red News 21st May 2020

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  • Red News
    replied
    United’s Third Quarter Financial Results - Some more thoughts...

    1. United have assumed £15M of rebate is paid to broadcasters as a result of matches not being played. Secondly, the reduced income from Europa League against Champions League and three fewer games led to total Broadcasting income falling by almost 50% on the quarter to March 2019. An operating loss of £3M was incurred against a £14M profit 12 months earlier.

    2. United's income is primarily Sterling. All the debt is domicilied in $. Not a good idea and by hedging this risk insufficiently a loss of nearly £20M was incurred. For a business of this size this is shocking, but there again these are the same people who recently gave Phil Jones a long-term contract.

    3. In the 9 months to this March cash fell by £223M folllowing £186M net of transfer expenditure. Cash is now £90M and reference is made to a £150M bank facility which to the best of my knowledge has not been drawn previously.

    4. No breakdown is supplied but I think some £30M is due from Inter for Lukaku. There is no supporting information provided for the amount owed for inward transfers but it's clearly significantly more than £30M. The club incurs a loss in the quarter to June due to the low number of games played so safe to assume a loss will be incurred particularly in the quarter to this June, although cash will benefit from 2020/2021 season ticket renewals. Cash as at June is not, however, the amount available for transfers - it's simply a seasonal peak.

    5. Two really big issues are revealed - 45 weeks of the current financial year have passed with only 7 weeks left. Despite this the club can't provide full year profit guidance due to the continuing impact & uncertainties of Covid 19. Secondly, lower profits this financial year make Champions League qualification crucial. Without it 2020/21 broadcast income will be disappointing, Adidas income falls and finding a partner to replace Chevrolet next year becomes more difficult. Until these issues are resolved I don't see the likes of Jadon Sancho arriving anytime soon.

    S.

    Leave a comment:


  • Red News
    replied
    United’s Third Quarter Financial Results - Some thoughts...

    - United has announced its third quarter results for the three months from January 2020 to March 2020. United’s financial year runs July 2019 - June 2020.

    - The full financial impact of the Covid crisis will not be known until the fourth quarter results (April to June) are announced later in the year. Nevertheless, United’s revenue and profit took a big fall compared to the same three months a year ago. Partly as a result of no Champions League this season and partly the cessation of football altogether from mid-March. The club reckon Covid related effects reduced revenue by £23m for the quarter.

    - The big question is whether United has enough cash to pay its bills over the next few months? As we’ve said before, the club was generating less cash this year even before Covid. As at March 2020, United had £90m in cash which was £100m smaller than the same point in 2019. United has an unused overdraft facility of £150m - giving a total headroom of £240m if it’s needed. 

United has three big costs. a) Salaries. £70m every three months. b) Transfer fees. We’ve been told that the club owes transfer fees of approximately £125m although we’re not sure of the dates these are due. United is owed c.£50m from other clubs (primarily Lukaku which is being paid in instalments by Inter although the majority is not due this year). c) Other operational costs such as property cost, fees to casual workers which are still being paid; utilities etc. Annually c£108m. 

The club has detailed cash flow forecasts based upon different scenarios but we do know that as a result of Covid United is “closely controlling costs and reviewing planned capital expenditures”. No surprise there. The usual Glazer tactic is salami slicing costs whereby they hammer down on every cost line. It’s pernicious and harmful. The expansion and refurbishment of Carrington will get kicked into touch. We would not bet on any big transfer fees this summer.

    - In the nine months between July 2019 to March 2020, the club paid out £211m in cash for transfer fees - Maguire’s £78m fee was paid up-front plus several other arrivals and payments on Fred’s £53m fee from 2018. On top of this United still owes a further £125m in transfer fees to other clubs. 

    - Commercial revenue was up slightly compared to the same period last year. Well done Dickie, have a cream cake big boy. That said, the fourth quarter numbers will be interesting. Much will depend on the ‘force majeure’ clause in the contracts with each sponsor. This is a clause that frees both parties from liability or obligation when an extraordinary event occurs beyond their control such as a pandemic. With no football being played, commercial partners may try and negotiate reduced payments although the club did say that it does not expect any disruption to commercial revenues. Let’s see.

    - Previously, United had been forecasting revenue for the full year of £560m to £580m. Unsurprisingly, it has cancelled this forecast and will not give a fresh one at the moment. 

    - It is incredible that 15 years after the Glazers’ leveraged buy-out, the club still has a debt mountain of $650m. These loans were taken out in the US and are denominated in dollars. £519m is the amount showing in the accounts. It costs c.£25m to service the debt each year.

    Confirmation of no summer tour. India had been planned but is now binned.

    Full-year financials to 30th June 2020 will be announced September.

    Leave a comment:


  • E.S.
    replied
    United coach, Neil Wood, looks back at the progress of Brandon Williams and another player who could do the same


    Dear Reds, we need your help - https://fundrazr.com/RedNewsSupport

    If you think what we do is important, then a subscription right now is a game changer for our future as an independent fanzine in the year ahead. No football = no games to sell at. We need your support now more than ever. We believe the terraces of Old Trafford and its culture is a little bit stronger when Red News is around, and that our fanzine still provides a strong voice, and a different take on supporting MUFC that is worth keeping.

    So on our 33rd anniversary we are opening up our new advanced annual subscription campaign because without your subscriptions, we will not be able to continue, nor be around in 2021. With your support, we will. We pride ourselves on still being a voice for normal Reds just like you. For giving space for reasoned, well thought out opinion, and for the type of exclusives and gossip you know us well for. And to praise, or hold the club to account, where it is appropriate. To shine a light where it is needed. A different type of fanzine. But one that still holds the same principles as when we first started in April 1987.

    We have weathered many storms, including a decline in matchday sales, and all the changes, both good or bad, at Old Trafford in our time, but events right now out of our control are different... We only survive because of our readers. Without advertising, you keep us alive.

    If games are behind closed doors, we will still publish. We WILL still publish. If needs be we will make certain mags double issues every second month like our one will be in May 2020.

    The target this summer is 333 Reds.

    Thank you - https://fundrazr.com/RedNewsSupport


    "Brandon started with the 23s, coming on pre-season with us, he was excellent,"

    "He came in flying on the first day of pre-season, you could see the determination he had, he came back in great shape and he was working the hardest of the group.

    "He's got his rewards now. He's got his chance in the first team, did really well and he's not looked back since.

    "It just shows you how you can start off the season in one place and by the end of it, he's flying up there in the first team."

    "Teden [Mengi] has been fantastic,"

    "He came up to us quite early on in the season and, a bit like Brandon in a sense, he came from the 18s and took his chance.

    "He played really well and he kept his place in the team.

    "And when he dropped back down at the end of the season to lead the Youth Cup team, he put in some excellent performances there.

    "We'll be looking to work with him next season and he's one [player] we want to 'do a Brandon' with, push him on and the goal is to try and get him pushed up into that first team if we can."

    Leave a comment:


  • E.S.
    replied
    Luke Shaw describes Greenwood


    Dear Reds, we need your help - https://fundrazr.com/RedNewsSupport

    If you think what we do is important, then a subscription right now is a game changer for our future as an independent fanzine in the year ahead. No football = no games to sell at. We need your support now more than ever. We believe the terraces of Old Trafford and its culture is a little bit stronger when Red News is around, and that our fanzine still provides a strong voice, and a different take on supporting MUFC that is worth keeping.

    So on our 33rd anniversary we are opening up our new advanced annual subscription campaign because without your subscriptions, we will not be able to continue, nor be around in 2021. With your support, we will. We pride ourselves on still being a voice for normal Reds just like you. For giving space for reasoned, well thought out opinion, and for the type of exclusives and gossip you know us well for. And to praise, or hold the club to account, where it is appropriate. To shine a light where it is needed. A different type of fanzine. But one that still holds the same principles as when we first started in April 1987.

    We have weathered many storms, including a decline in matchday sales, and all the changes, both good or bad, at Old Trafford in our time, but events right now out of our control are different... We only survive because of our readers. Without advertising, you keep us alive.

    If games are behind closed doors, we will still publish. We WILL still publish. If needs be we will make certain mags double issues every second month like our one will be in May 2020.

    The target this summer is 333 Reds.

    Thank you - https://fundrazr.com/RedNewsSupport



    "He’s had a fantastic first season in the first team. He’s clearly a natural goalscorer,"

    "This season – even though he doesn’t start all the time – his goals return and his stats are great, and he’s got some assists too. For someone so young, in their first season, he’s done brilliantly.

    "He’s still got so much to learn, but if he carries on working hard and pushes himself every day then I don’t see why we can’t see him turn into another Robin van Persie or a player of that style that’ll score lots of goals for us."

    "Purely the fact that he’s so two-footed, it’s unbelievable,"

    "When I was younger, when I played youth football, there was a young lad called Lewis Baker who played with Chelsea, he was always both-footed.

    "Him and Mason are probably the only two pure two-footed players I’ve seen. When I was at Southampton, Adam Lallana could also use his left and right very well.

    "Also Ravel Morrison was very strong on both feet and we’ve seen a lot of people talking about his potential in recent weeks, but I’d say Mason is stronger on that front."

    Leave a comment:


  • E.S.
    replied
    Andre Gray explains what its like to play against Pogba


    Dear Reds, we need your help - https://fundrazr.com/RedNewsSupport

    If you think what we do is important, then a subscription right now is a game changer for our future as an independent fanzine in the year ahead. No football = no games to sell at. We need your support now more than ever. We believe the terraces of Old Trafford and its culture is a little bit stronger when Red News is around, and that our fanzine still provides a strong voice, and a different take on supporting MUFC that is worth keeping.

    So on our 33rd anniversary we are opening up our new advanced annual subscription campaign because without your subscriptions, we will not be able to continue, nor be around in 2021. With your support, we will. We pride ourselves on still being a voice for normal Reds just like you. For giving space for reasoned, well thought out opinion, and for the type of exclusives and gossip you know us well for. And to praise, or hold the club to account, where it is appropriate. To shine a light where it is needed. A different type of fanzine. But one that still holds the same principles as when we first started in April 1987.

    We have weathered many storms, including a decline in matchday sales, and all the changes, both good or bad, at Old Trafford in our time, but events right now out of our control are different... We only survive because of our readers. Without advertising, you keep us alive.

    If games are behind closed doors, we will still publish. We WILL still publish. If needs be we will make certain mags double issues every second month like our one will be in May 2020.

    The target this summer is 333 Reds.

    Thank you - https://fundrazr.com/RedNewsSupport



    “People talk about Pogba and it annoys me,”

    “Whenever I’ve played against Pogba, four or five times now, no-one can get near him.

    “He might not set the world on fire and score top-corner goals.

    “But you cannot get near the kid – he’s always somewhere you’re not and you can’t fathom it.

    “Until you’re on the pitch with him, you’ll never understand. From the stands it’s like ‘oh, he’s turned him’.

    “When you play the game and understand the midfield positions, you cannot fathom him.”

    Leave a comment:


  • E.S.
    replied
    Alexis Sanchez comments on life at MUFC as a player with Moruinho in charge

    Dear Reds, we need your help - https://fundrazr.com/RedNewsSupport

    If you think what we do is important, then a subscription right now is a game changer for our future as an independent fanzine in the year ahead. No football = no games to sell at. We need your support now more than ever. We believe the terraces of Old Trafford and its culture is a little bit stronger when Red News is around, and that our fanzine still provides a strong voice, and a different take on supporting MUFC that is worth keeping.

    So on our 33rd anniversary we are opening up our new advanced annual subscription campaign because without your subscriptions, we will not be able to continue, nor be around in 2021. With your support, we will. We pride ourselves on still being a voice for normal Reds just like you. For giving space for reasoned, well thought out opinion, and for the type of exclusives and gossip you know us well for. And to praise, or hold the club to account, where it is appropriate. To shine a light where it is needed. A different type of fanzine. But one that still holds the same principles as when we first started in April 1987.

    We have weathered many storms, including a decline in matchday sales, and all the changes, both good or bad, at Old Trafford in our time, but events right now out of our control are different... We only survive because of our readers. Without advertising, you keep us alive.

    If games are behind closed doors, we will still publish. We WILL still publish. If needs be we will make certain mags double issues every second month like our one will be in May 2020.

    The target this summer is 333 Reds.

    Thank you - https://fundrazr.com/RedNewsSupport


    "Mourinho is one of the best coaches in the world in the way that he coaches, how he studies videos, the way he goes about things. But then, within the group there was that feeling that you were in the team then out. Sometimes I didn’t play, then I did, then I didn’t and as a player you lose confidence, each player lost their confidence, do you understand?

    ‘And then an atmosphere was created that wasn’t healthy.

    "Sometimes I’m playing well and I score a goal and he took me off. And I’d say, “I love football, I love football. I’ve played football since I was five and if I have the ball taken away from me, it’s as if I lose my joy. I’m like that."

    Leave a comment:


  • E.S.
    replied
    United youngster gets a one year extension on his contract ...


    Dear Reds, we need your help - https://fundrazr.com/RedNewsSupport

    If you think what we do is important, then a subscription right now is a game changer for our future as an independent fanzine in the year ahead. No football = no games to sell at. We need your support now more than ever. We believe the terraces of Old Trafford and its culture is a little bit stronger when Red News is around, and that our fanzine still provides a strong voice, and a different take on supporting MUFC that is worth keeping.

    So on our 33rd anniversary we are opening up our new advanced annual subscription campaign because without your subscriptions, we will not be able to continue, nor be around in 2021. With your support, we will. We pride ourselves on still being a voice for normal Reds just like you. For giving space for reasoned, well thought out opinion, and for the type of exclusives and gossip you know us well for. And to praise, or hold the club to account, where it is appropriate. To shine a light where it is needed. A different type of fanzine. But one that still holds the same principles as when we first started in April 1987.

    We have weathered many storms, including a decline in matchday sales, and all the changes, both good or bad, at Old Trafford in our time, but events right now out of our control are different... We only survive because of our readers. Without advertising, you keep us alive.

    If games are behind closed doors, we will still publish. We WILL still publish. If needs be we will make certain mags double issues every second month like our one will be in May 2020.

    The target this summer is 333 Reds.

    Thank you - https://fundrazr.com/RedNewsSupport



    Statement from the club

    Manchester United defender Max Taylor has signed a new contract with the club.

    The 20-year-old, who has been with United since he was 14, agreed a one-year extension to his current deal.

    Taylor featured six times for United in Premier League 2 this season before joining Stalybridge Celtic on loan in January and enjoying his first taste of senior football.

    He was on the bench as an unused substitute last November in the Reds' Europa League group game against Astana in Kazakhstan.

    United sat second in the Premier League 2 table, three points behind West Ham United with a game in hand, before the season was ended due to the COVID-19 global pandemic.

    The Mancunian also featured as United took part in their first Leasing.com Trophy campaign, against opponents from League One.

    Throughout the Academy, players continue to work with coaching, education and player-care staff in order to continue their football development and support their mental well-being ahead of returning to training when it is appropriate to do so.




    Leave a comment:


  • E.S.
    replied
    Lucas Radabe explains why he didn't sign for MUFC


    Dear Reds, we need your help - https://fundrazr.com/RedNewsSupport

    If you think what we do is important, then a subscription right now is a game changer for our future as an independent fanzine in the year ahead. No football = no games to sell at. We need your support now more than ever. We believe the terraces of Old Trafford and its culture is a little bit stronger when Red News is around, and that our fanzine still provides a strong voice, and a different take on supporting MUFC that is worth keeping.

    So on our 33rd anniversary we are opening up our new advanced annual subscription campaign because without your subscriptions, we will not be able to continue, nor be around in 2021. With your support, we will. We pride ourselves on still being a voice for normal Reds just like you. For giving space for reasoned, well thought out opinion, and for the type of exclusives and gossip you know us well for. And to praise, or hold the club to account, where it is appropriate. To shine a light where it is needed. A different type of fanzine. But one that still holds the same principles as when we first started in April 1987.

    We have weathered many storms, including a decline in matchday sales, and all the changes, both good or bad, at Old Trafford in our time, but events right now out of our control are different... We only survive because of our readers. Without advertising, you keep us alive.

    If games are behind closed doors, we will still publish. We WILL still publish. If needs be we will make certain mags double issues every second month like our one will be in May 2020.

    The target this summer is 333 Reds.

    Thank you - https://fundrazr.com/RedNewsSupport


    "I believed in values. Coming from South Africa, our tradition and culture was embedded in me. I was lucky to be taken to the Premier League by Leeds United. So I had to be loyal to the club,"

    "I had an opportunity to go to Manchester United and I turned it down. Lazio, Roma, I turned them down too. I had settled well at Leeds and they looked after me. I wanted to grow with the club as a person and a footballer,"

    "If I had gone to Manchester United or any other club, I don't think I'd have achieved what I achieved at Leeds United," he said.

    "Forget about trophies and other things. No. To have the impact I had at that club, to be the leader I was, would I have achieved that at Manchester United?"

    "There [in Manchester] I would only have been one of the squad [members]. The way I saw it, I belonged to Leeds United,"

    Leave a comment:


  • E.S.
    replied
    Jasper Blomqvist thinks Ole is a good person to be manager of MUFC


    Dear Reds, we need your help - https://fundrazr.com/RedNewsSupport

    If you think what we do is important, then a subscription right now is a game changer for our future as an independent fanzine in the year ahead. No football = no games to sell at. We need your support now more than ever. We believe the terraces of Old Trafford and its culture is a little bit stronger when Red News is around, and that our fanzine still provides a strong voice, and a different take on supporting MUFC that is worth keeping.

    So on our 33rd anniversary we are opening up our new advanced annual subscription campaign because without your subscriptions, we will not be able to continue, nor be around in 2021. With your support, we will. We pride ourselves on still being a voice for normal Reds just like you. For giving space for reasoned, well thought out opinion, and for the type of exclusives and gossip you know us well for. And to praise, or hold the club to account, where it is appropriate. To shine a light where it is needed. A different type of fanzine. But one that still holds the same principles as when we first started in April 1987.

    We have weathered many storms, including a decline in matchday sales, and all the changes, both good or bad, at Old Trafford in our time, but events right now out of our control are different... We only survive because of our readers. Without advertising, you keep us alive.

    If games are behind closed doors, we will still publish. We WILL still publish. If needs be we will make certain mags double issues every second month like our one will be in May 2020.

    The target this summer is 333 Reds.

    Thank you - https://fundrazr.com/RedNewsSupport


    “I must say, I admire Ole and especially the way that he keeps his faith in his idea, and [is] really strong-minded,”

    “He hasn't let anybody affect him and now you're starting to see really quite strong signs that it's starting to work. It's been a a hard road, but he's stuck to his ideas, his philosophy.”

    “The other thing that I like is that the club is always the biggest thing for him, the way I've understood it, when I read and see everything [he's doing],”
    continued the former United and AC Milan winger.

    “That's also really admirable for me as a United fan. Even though it would have gained him more time to buy some big-name players just to make sure they win the next game, he's resisted that and said: 'No, I don't want to do that. I want to stick [with what I've got]. I don't just want to bring in players to save myself.'

    “These two things I've really appreciated when I've looked at his leadership and first one-and-a-half years at United.”

    “This season, I've watched more than ever, I think, of United,”

    “I'm more of a fan than ever, and it's a great feeling as well to be on that side and watching with a lot of emotions.”




    Leave a comment:


  • E.S.
    started a topic Red News 21st May 2020

    Red News 21st May 2020

    Maguire explains what returning to training looked like for the players


    Dear Reds, we need your help - https://fundrazr.com/RedNewsSupport

    If you think what we do is important, then a subscription right now is a game changer for our future as an independent fanzine in the year ahead. No football = no games to sell at. We need your support now more than ever. We believe the terraces of Old Trafford and its culture is a little bit stronger when Red News is around, and that our fanzine still provides a strong voice, and a different take on supporting MUFC that is worth keeping.

    So on our 33rd anniversary we are opening up our new advanced annual subscription campaign because without your subscriptions, we will not be able to continue, nor be around in 2021. With your support, we will. We pride ourselves on still being a voice for normal Reds just like you. For giving space for reasoned, well thought out opinion, and for the type of exclusives and gossip you know us well for. And to praise, or hold the club to account, where it is appropriate. To shine a light where it is needed. A different type of fanzine. But one that still holds the same principles as when we first started in April 1987.

    We have weathered many storms, including a decline in matchday sales, and all the changes, both good or bad, at Old Trafford in our time, but events right now out of our control are different... We only survive because of our readers. Without advertising, you keep us alive.

    If games are behind closed doors, we will still publish. We WILL still publish. If needs be we will make certain mags double issues every second month like our one will be in May 2020.

    The target this summer is 333 Reds.

    Thank you - https://fundrazr.com/RedNewsSupport


    “It seems such a safe environment. It’s our first day back, but it seems so safe and everyone is respecting it so well, so long may that continue and I’m sure no one will have any problems.

    “There is a lot less people at the training ground when we go in. I was in a group of four, working with one coach, so not many people. You’ve got a lot space, big areas, not going really close to anyone, but the main thing is getting the work in and it was a tough session

    “I think every 30 minutes we have a different slot and each slot is taken by a different coach at the club. I feel sorry for the boys who are doing the afternoon today with the weather, so I’m sure it will be tough running out there.

    “It’s obviously strange and something that we’re not used to, but at the moment it’s just getting the base fitness, the physical fitness and I think it’s good mentally as well to come into the training ground and get used to the surroundings again.”
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