This has killed my transfer muppetry. I can't even go over there anymore.... This is the only thread that matters.
Sir Jim Ratcliffe: I want to buy Manchester United | Will make a bid for the club [Telegraph]
- Thread starter altodevil
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Need the momentum on this to keep up.
There's going to be negative opinions creeping in about Ratcliffe before to long. He was a big brexit supporter for instance (I don't think he's a toilet peeper), all of which I'm sure are valid. He is, however, a United fan and our best and only hope of a way out of this nightmare. Added to that, he's very well connected with our scumbag government which could be used to apply a bit of pressure. Unity will be the key here, despite any misgivings. We are after all United!
Don't even worry about it, all our transfer window consists of now is Murtough on a world tour asking the best players cap in hand if they'll come to united
He's like a worse version of an autograph hunter
Could someone explain to me why they would bother with trying to sell a minority stake if they were actually interested in selling the club?
Ignore everything transfer related as it is all spin! This is the only thread that matters
They're not interested in selling a minority stake. It's a power play
The Glazers will not sell the club within the next 3 years. This will all fade to feck all within a week.
At most they'll sell off 10% to raise 300 million which they will put into their own pockets.
At most they'll sell off 10% to raise 300 million which they will put into their own pockets.
And this hypothesis is based on?
Pessimistic thinking designed to protect themselves from bitter disappointment
Poor old Fred. He’s not the worst by a long shot
Mark Hughes as a manager?
So agree
I'm a bit confused. They want 5 billion just for a minority stake? Or is that the sale price?
£5bil seems to be the magic number that would trigger a sale.
It’s not really connected. I guess technically any dilution of Glazer control is a good thing but it’s being mooted to raise money, nothing more.
By this quote alone you know he'll be more sensible than the Glazers, Woody, Arnold and Murtough
It depends on their strategy. Sure United now are at a low point, but still it draws massive revenues. With the war and winter coming, along with high probability of huge recession next year it's not outlandish to suggest that they can move their assets elsewhere and that they can lose value even further next year.
On top of that you have maintenance issues with OT and other running costs that needs to be assessed.
Selling their own assets (equity in the club that they own) is not the same as paying dividends out of the company's cash flows. I get your point that they've made more money off the club than just the dividends, but each of those sales reduced their ownership and reduces the amount of money they're going to get when they sell the whole club. So the other poster's point is correct that an asset valued at a few billion and paying $10-20m a year in dividends is a not a good annual return on investment. If they sold and put all the proceeds into the market, they'd make way more than that. Now that the asset isn't appreciating further (and may be depreciating), better to take the few billion its worth than continue to hold and the dividends they have been receiving.
They want £5b to sell a minority stake? So the absolute lowest they are valuing the club at is around £10b
He is actually, I consider him, McT and Dalot as the worst first teamers.
No. £5bil has long been thought to be the number that will trigger a full sale.
The word "some" in the tweet is weird given their article suggests they would walk away fully for £5b.
Yeah that makes absolutely no sense
That's a BS number thrown out for the value of the entire club. Meaning all of the equity, including the 1/3 of the equity that they don't own, and the debt payoff.
100% of the equity (including the public shares) is valued at around $2.2 billion by the market. There will of course be a control premium, but you're not going to see 2-3x the market price of the company. Then you add the debt, which is a little over $600 million. The enterprise value of the club is thus around $3 billion, before factoring in premiums on the equity. Of course, whoever buys it will need to invest a lot more in their new asset, like the Chelsea owners are. So while I could see the total cost to the buyer being 5 billion pounds, that's not what the club will sell for IMO, and waaaaay more than the portion of the purchase price that the Glazers themselves will receive.
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Chelsea was sold for £2.5 billion plus another £1.75 billion dedicated to investments I believe, so £4.25m in total. It's a decent benchmark to compare to ... I could see upwards of £4 billion for sure if you add up the shares, the debt and the amount necessary to entice the leeches to actually feck off. And that's before you add infrastructure costs.
Well said.
This is the ultimate Muppet thread now.
Screw transfers, the real action is in here.
My body is ready
Screw transfers, the real action is in here.
My body is ready
I'm actually surprised there hasn't been a "the club is not for sale" statement today. Fully expected them to piss in our cornflakes by now.
and yeah, screw transfers. This is what matters.
and yeah, screw transfers. This is what matters.
They were rumoured to be starting a sports focused fund earlier this year. Also Apollo makes minority stakes all the time.
Ready to be disappointed.
If this doesnt happen with Ratcliffe being UK born and bred, having the money to see it through, having a proper interest in the club being a fan.. I honestly cant EVER seeing this nightmare end.
They won’t sell 10% for £300m. SJR would snap their hands off for 100% for £3bn
My worst fear is that this is just smoke to drive up the stock price.
Absolutely, if this actually has legs then it is 1000 times more exciting than any transfer we could make.
Good news. Ratcliffe is on the menu boys
