Re: Manchester United Supporters Thread.
It's still a damn site better than your income statement, so I'd be careful where I'm throwing those silver stones...
What people need to realise is that we still added £13m to our cash reserves last year, even after the exceptional and other financing costs. There are loads of accounting charges in there that simply don't 'exist' in real life - such as the depreciation of players and the FX rate changes.
Plus, we made £100m of operating profit. That's bloody brilliant.
Essentially, we're still the best run club in the world, but until we clear our debt we won't be able to act like it. Then again, it wouldn't honestly matter because City/Chelsea can still out bid us because their business models are not grounded in reality.
http://www.guardian.co.uk/football/2010/oct/08/manchester-united-losses
where's that Beliel gone....
It's still a damn site better than your income statement, so I'd be careful where I'm throwing those silver stones...
What people need to realise is that we still added £13m to our cash reserves last year, even after the exceptional and other financing costs. There are loads of accounting charges in there that simply don't 'exist' in real life - such as the depreciation of players and the FX rate changes.
Plus, we made £100m of operating profit. That's bloody brilliant.
Essentially, we're still the best run club in the world, but until we clear our debt we won't be able to act like it. Then again, it wouldn't honestly matter because City/Chelsea can still out bid us because their business models are not grounded in reality.