readytorunbook Chapter 493 Financial Catastrophe
Chapter 493 Financial Catastrophe
Chapter 493 Financial Catastrophe
Murphy's Law: [-]. Nothing is as simple as it seems; [-]. Everything will take longer than you expected; [-]. Things that can go wrong will always go wrong; [-]. If you worry about something happening, it will It can happen.
If Murphy's Law could be summed up in one sentence, it would be: Bad things always follow.
The opening game beat Chelsea, just when everyone thought that Manchester United would come out from the shadow of the flying car accident, something happened to Manchester United again.And this time it's a matter of life and death for the 150-year-old club.
On this day, Liu Yun returned home after a day of training.After teasing Little Coke for a while, he cooked an authentic Huaguo dinner.
Isabella once said to Ibrahimovic's wife Helena: The biggest advantage of marrying Liu Yun is that she can eat delicious Chinese food every day.
Since marrying Liu Yun, Isabella's weight has skyrocketed from 60 kg to 75 kg.With a height of 1.8 meters, she is now a standard plump lady.
The family was eating, when Liu Yun suddenly received a call from Pogba: "Hey, old lieutenant, turn on the BBC channel! Manchester United... this time big shit!"
Pogba is a silly guy who likes to scare people.Liu Yun didn't take it seriously.He went to the living room, turned on the TV, and tuned to the BBC channel:
"At 14 p.m. local time on the 2th in the United States, the special investigation team of the U.S. Department of the Treasury arrested Afram Glazer in New York. As we all know, Afram Glazer owns Zapata Corporation, Edgerton Investment, NFL The Tampa Bay Islands team and the Premier League Manchester United club. It is reported that the special investigation team of the US Treasury Department arrested Afram Glazer on charges of financial fraud. According to people familiar with the matter, Afram Glazer is suspected of conducting binary options transactions. Ponzi scheme fraud, involving as much as 300 billion U.S. dollars... "
Liu Yun was stunned for a moment.Glazer Jr. is the owner of Manchester United.Now that the boss is arrested, will it have a huge negative impact on Manchester United?
Could it be that this is the catastrophe that the gypsy witch mentioned?
. . . . . . . .
A day later, the Glazer family began to sell all their corporate stocks on the New York Stock Exchange in exchange for funds to fill the big pit of binary options trading.This naturally includes Manchester United's stock.
This year, Manchester United's performance has improved significantly.Coupled with the Glazer family's use of some tricks in the stock market, Manchester United's stock price has risen sharply, from $18.25 per share a year ago to $34.No one can tell how many bubbles there are in it.
The butterfly effect exists in meteorology, and of course it also exists in finance.
The Glazer family, the largest shareholder of Manchester United, took the lead in unrestricted selling of Manchester United shares. For a while, Manchester United shares on the New York Stock Exchange plummeted.Little Glazer was arrested on the 14th. At the close of trading on the 15th, Manchester United's stock price plummeted from $34 to $18, a drop of nearly 50.00%!
Blessings never come, but misfortunes never come singly.Another insider broke the news to the Wall Street Journal that Glazer Jr. falsely reported the income of Manchester United last year in order to achieve the purpose of raising Manchester United's stock price.Manchester United's share price has been on a roller coaster, heading straight down the runway.
Manchester thousands of miles away.
Manchester United chairman Ed Woodward sat behind his desk, clutching his head.
The Glazer family took over Manchester United, although they promised to entrust the executive power of the club to the club chairman.But they sent a confidant to be the CFO (Chief Financial Officer). All Manchester United's accounts and capital flows are in the hands of the CFO.Woodward doesn't even know how much money United made or lost last year.
Now Manchester United's stock price has plummeted, and it is unknown how much it will continue to fall tomorrow.Is Manchester United, a 150-year-old club, going to be destroyed on the New York Stock Exchange?
Rumors are everywhere now, and some people even say that Manchester United cannot escape the bad luck of bankruptcy this time.
The more Woodward thought about it, the more he got dizzy. He walked to the wine cabinet, poured himself a glass of whiskey, and took a sip to suppress his shock.
Assistant coach Bart walked into Woodward's office: "These vampires are parasitic on Manchester United like moths, and this time they have drained Manchester United's blood!"
Woodward looks at Bart.He knew that Bart hated the foreign bosses in the Premier League the most.Think of them as bastards who pluck the wool of traditional English football clubs.Woodward has persuaded Bart more than once: "The globalization of capital is the general trend."
Now, Bart's words unfortunately hit the mark, Manchester United. . .This time it was really going to be ruined by the Little Glazer family.
What should we do now?Sit back and watch this 150-year-old European giant go bankrupt?Woodward took another sip of his whiskey.
No, never!This 150-year-old club must not be destroyed in my hands!
Woodward called his good friend, the boss of the largest accounting firm in Manchester, Klingman.
Bankruptcy, to put it bluntly, is insolvency.Manchester United has huge loans in the UK's four largest banks.Once the total share price is lower than the debt amount, Manchester United can only declare bankruptcy.
Woodward now asks Kleeman's accounting firm to help him figure out how far Manchester United's stock price will fall and it will go bankrupt.If you want to raise the stock price above the bankruptcy line, how much capital is needed.
Klingman's accountants arrived at Manchester United that afternoon.
In the evening, they gave Woodward a number: $15.8.For the time being, Manchester United's stock price has not yet fallen to the bankruptcy line.
However, by the close of the next day, United's stock price plummeted to $13.1.Raising above the bankruptcy line required $1.5 million in capital to buy United shares.
At the close of the third day, United's shares fell to $8.73.It would take $4.2 million to rise above the bankruptcy line.
The Manchester court sent a letter to Woodward, within 3 days, if Manchester United's stock price cannot rise above the bankruptcy line, the court will initiate bankruptcy protection procedures.
After seeing the letter from the Manchester City Court, Woodward sat down on a chair in despair.
Now it needs 4.2 million US dollars to enter the New York Stock Exchange to buy Manchester United shares.Maybe that number will continue to expand tomorrow.The current Manchester United is like a broken ship that is leaking everywhere in the financial market. Who will enter the field to save Manchester United at this time?
Woodward has a big head.If the court starts Manchester United's bankruptcy protection process, Manchester United will no longer be able to borrow from banks.At the same time, this means that Manchester United can no longer afford to pay the high wages of the players.Unable to pay wages, but it is regarded as a breach of contract by the club, and players are free to leave the team. . .At that point, Manchester United, a century-old giant, is really over!
At this moment, Mourinho knocked on the door of Woodward's office.
Mourinho said straight to the point: "My Excellency, the head coach has no right to intervene in matters other than the game. But now there are rumors outside and the players are panicking. They have no intention of preparing for Sunday's match against Everton. ...Can you give me an accurate word, Manchester United... Will it go bankrupt? I can also give my players a reassurance."
Woodward stared at Mourinho for a long time before telling Mourinho: Now it takes another 4.2 million US dollars to pour into the New York Stock Exchange to buy Manchester United's shares in order to save Manchester United from bankruptcy.Of course, tomorrow, this number will expand.
(End of this chapter)