I have always said that when it comes to cars, Singaporeans lose their minds. However to prove that I’m not against Singaporeans, I will now say Singaporeans are not the only ones with problems thinking with their heads instead of their hearts.
I mean how else are you to explain the bond issue of Manchester United begins over-subscribed? The football club may be the champions of England, but they are over $1 billion in debt. I can understand why the Glazer family, who owns Man Utd, issued the bond but these are unrated bonds. Not only that, these are bonds on a football club which is under $1 billion in debt. To illustrate how bad the bad the loan situation is at Man Utd, they made 100 million last season. Yet this season, they haven’t bought any big players and are still looking to sell their players.
Yet this club has its bonds over-subscribed! No wonder FIFA is asking for the moon for the telecast of the World Cup. We football fans are suckers!