Be easier to tell when they put out their results for the end of June - they report the earliest of anyone, but I think they're in a mess. They've needed equity injections to dig them out in recent years which Jimbob has provided in line with the deal with the Glazers, but I can see a Mexican stand-off between them the next time it's needed because the Glazers don't like stumping up their own money.
They've got access to debt facilities to keep them going short-term but longer term they need to get their act together, and there's no point sacking the tea lady if you're then going to spend £200m on three attackers without shifting the dead wood. I know a few people who think the stadium project is just a dead cat strategy and if it is then they have a huge infrastructure problem to sort too because Old Toilet is falling down.
Truth is, they're a "too big to fail" club (as we were in the Hicks and Gillette years). Whatever happens, someone will bail them out, and I think we just need to enjoy how useless they are on the pitch and view the finances as a nice sideshow.