In my last post I pointed out that the Glazers' had cost United over quarter of a billion pounds in cash whilst also allowing the PIKs to grow by £62m and counting (which in my view will have to be paid by the club too). Here's the breakdown of the cash costs plus the obligatory references:
Loss on interest rate hedge £35m
Cash interest paid £171m
Management and consultancy fees £13m
Loans to Glazer family members £10m
Total cash costs to United 2005-2010 £286m
Who has paid the tax?
Look at the club’s income since the bid. There are three revenue streams:
Media: TV income, radio income, MUTV etc.
Matchday is something they can effect by changing ticket prices or the price of a pie, although they can’t control how many games United play at home on top of the 19 league games (and for many years at least 3 Champions League games).
Let’s focus on matchday income.
I’ve attempted to estimate how many season tickets / members’ tickets there are in each section of the ground, and the calculations only differ from the published ticket revenue data by 1.3% so they must be pretty accurate.
So how much extra money has that brought in?