Teddy Sheringham likes what Ole is doing at United

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Teddy Sheringham likes what Ole is doing at United

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"I like what Ole is doing. He has a nice feel at the club and I think he has steadied the ship and things are going in the right direction, but they are still a long, long way off challenging for the championship."...

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Teddy Sheringham says Paul Pogba needs to go

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"They need to recruit in the right manner and get the right people out. The big one for me is Pogba. There is a lot of talk about him. People mention top players and captains. When things weren't going right in our time, Roy Keane put things right. He would drive our team on, he would dig deep and make sure we had a say in every game we played in because of his desire. When you look at Pogba, yes, he may be a talented boy, but does he have the same mentality? Does he really dig deep and get Manchester United out of the mire when the going gets tough? For me the answer is no. He gives off the wrong vibe as a Manchester United player. Yes, it's good to be cocky and arrogant at the right times, Dwight Yorke had that as well, a big smile on his face when he played. But Yorke had a desire to do the right things at the right times. You've got to have that, and I don't think Paul Pogba gives you that. He would be one that would need to go so that you can get someone in with the right mentality and desire to drive Manchester United out of the position they are in."...

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"They're looking good, they've joined training now and they've done everything the other boys have been doing. No reaction so far, touch wood. When we get started, it looks like we can have a full squad to choose from."

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"We're back in training which has been great. The boys have been fantastic, the weather's been good and they've enjoyed it. Hopefully now we've proved we can do this safely and we can move to the next step. It's been really enjoyable being on the training ground again. Everyone's looking sharp, everyone's been in with a good mood and we've been splitting up in groups so fours and fives together and they've really done well. Hopefully, they can as I said, step up and go to bigger training groups but so far it's been good."...

[Red News]

Ole is pleased with how training has gone so far and looking forward to full close contact training next

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Ole on a now fit pair of Paul Pogba and Marcus Rashford

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“The loan deal went until the end of May now, so obviously he's supposed to be going back. We're in dialogue. They've been great towards us, his club, and allowed him to play for his dream club. It's been a dream for him and hopefully he can finish off what he started, hopefully with a trophy for us. At the moment, nothing has been agreed. Their league is going to get started soon so we're just waiting to see.”

[Red News]

Ole on wanting Ighalo to stay, but his club in China wanting him to return

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A Red Perspective - UNITED - WHERE DO WE GO FROM HERE? BY Ian

With the coronavirus affecting all of our lives so dramatically, the relevance...

[Red News]

United’s Third Quarter Financial Results - Some more thoughts...

1. United have assumed £15M of rebate is paid to broadcasters as a result...

[Red News]

United’s Third Quarter Financial Results - Some thoughts...

- United has announced its third quarter results for the three months from...

United’s Third Quarter Financial Results

- 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.

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New Red News 272/273 double issue - now out ALL formats. Available in Print. Digital. Android. Kindle and APP. Easy to sort, choose your format + order...

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New Red News 272/273 double issue - now out ALL formats. Available in Print. Digital. Android. Kindle and APP. Easy to sort, choose your format + order...

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The new Red News Podcast 78 - grab yourself a beer and see how many you can get out of 10 in another MUFC quiz - adults only! Quiz, Charles' medals, neu...

The new Red News Podcast 78 - grab yourself a beer and see how many you can get out of 10 in another MUFC quiz - adults only!

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