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Manchester United made a £22.5m loss by selling Angel Di Maria to PSG
02 September 2015 15:08 Post ID: #554913
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The news just keeps getting better

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Manchester United made a £22.5m loss by selling Angel Di Maria to PSG - because the Euro was weak compared to the pound

http://www.independent.co.uk/sport/football/transfers/manchester-un...

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09 September 2015 08:48 Post ID: #555126 - in reply to #554913
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Schadenfreude.

Can there be a better feeling when it comes to the rags?
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09 September 2015 15:27 Post ID: #555148 - in reply to #555126
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Is anyone else fed up with this nauseating wiggyfest going on in the media today?
It's everywhere you look. You can't get away from it.
Hope the dippers smash them at the weekend.

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09 September 2015 20:01 Post ID: #555151 - in reply to #554913
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I don't understand it.

If they paid £59 million for him (or the euros equivalent) and sold him for £44 million (or the euros equivalent) then I reckon that means they lost £15 million (or the euros equivalent) on the deal.





Edited by CITYBOY1000 9/9/2015 20:04
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09 September 2015 23:47 Post ID: #555152 - in reply to #555151
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CITYBOY1000 - 9/9/2015 20:01

I don't understand it.

If they paid £59 million for him (or the euros equivalent) and sold him for £44 million (or the euros equivalent) then I reckon that means they lost £15 million (or the euros equivalent) on the deal.





They lost €15 million on paper - but due to the exchange rate, that €44 million was actually worth €7m less,
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10 September 2015 07:27 Post ID: #555156 - in reply to #554913
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Yes, but they bought him for £59 million (for the sake of argument at that time that was equivalent to 80 million euros at the rate as then was). They later sold him for £44 million which at the going rate then was set as say 60 million euros at that late exchange rate.

They have therefore lost out by £15 million regardless of what the going rate for euros is applicable.

The applicable exchange rates between sterling and euros has been quoted at the purchase date and the sale date ie. bought for £59 million (80 million euros) and sold for £44 million (60 million euros). The deficit is £15 million and you can only use the appropriate exchange rate at the purchase and sale dates.

They lost out by £15 million which in today's money is approximately 20 million euros. £15 million might have been worth more euros back in 2014 so hairy muff but that was then and now is now now it isn't.

If they bought him in sterling and sold him in euros then I might see where he's coming from but even then, on each occasion, the exchange rate in Sterling has been quoted.

Apologies if I'm missing something but surely this is the only way to measure it regardless of what some high-flyer in the stock exchange might be saying ?
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10 September 2015 08:52 Post ID: #555160 - in reply to #554913
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It's a bit like when you go on holiday - you buy €1000 to take with you from the Bureau de Change for £800, but your holiday is cancelled.

In the meantime, the Euro exchange rate declines, and when you go back to cash in, you only get £700 for the same amount of Euros

The amount of Euros hasn't changed, and won't change until you convert it back into sterling
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10 September 2015 19:46 Post ID: #555182 - in reply to #554913
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Yes, but they bought him for the euros equivalent of £59 million and sold him for the euros equivalent of £44 million.

They lost out on £15 million.

If somebody wants to calculate what £15 million was in 2014 in terms of euros and what it is worth now in euros is up to them and is an academic exercise in my opinion. The 'rags' have lost £15 million.

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10 September 2015 19:49 Post ID: #555183 - in reply to #554913
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I'm looking at it a little more and I'm starting to see where you might be coming from Fifth.

I'm not entirely convinced but I'm looking into it.
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