If you never you'll never know
Club Sale | It’s done!
- Thread starter JB08
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Oh my God! What?! Been working and only just seen this! Wow.
The Caf is popular but not that popular.
Words I don't want to hear regarding our new owners... 'consortium' and 'American'.
Welcome to morning after the night before!
My god, they're inept business owners. Looking to sell just because there's a lot of activity around them and don't want to be left behind, being followers rather than leaders. These guys had one good insight 17 years ago (football clubs could increase their earnings with better commercial performance) and that's it. Besides that, managed with no insight or inspiration for 17 years. Thoroughly mediocre businessmen.
Maybe Robert Kraft could be tempted? @Rado_N
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Same
They didn’t, their dad did.
I’m surprised this has only reached 36 pages so far. Thought the day Glazers publicly declared a willingness to sell, it would be in the hundreds
Dubai has undergone massive transformation just the past decade. First time I went there it was very conservative, having a clothing police patrolling the beach kinda similar the currently popular Iranian version. It also was strictly luxerious hotels who could serve alcohol and in general it felt very unfriendly towards the female population. Now it feels like the safest city I have been to in addition to having eased up massively on the alcohol laws (now every bar is permitted to serve alcohol). Don't let official travel guidelines fool you, it's fast becoming way more liberal and western-oriented than most western cities.
As for the working practices - it's clear that international attention has improved the situation massively (removing the Kefala system and the Workers Act going through), even if they have some way to go still to satisfy Amnesty and the likes. Hopefully their aim of being the frontrunners in tourism, finance and tech science will improve the situation further.
Or £4 from everyone of United's reported 1.5b supporters. Job done.
Only recent article of theirs I can find covering this is them citing the S*n and other UK rags, they're not adding any claims of their own or even credibility to the claims of those newspapers.
https://www.arabianbusiness.com/lif...ubai-on-red-alert-to-make-surprise-10-6bn-bid
not much to argue about..
It's either Dubai, Yanks, Ratcliffe, Chinese, Indians or Iranians.
Hah! I'd forgotten that part of it. fecking depressing.
Or Sauron
Apparently they've all left since Ronaldo did. I think the Caf is all that remains.
Glad we've narrowed that down.
Yeah, I remember they were gushing over each other on social media earlier this year. Hopefully Ronaldo hasn't ruined that chance. Hamdan seems like he would make a very good face of an owners group.
That's only half a billion we can up it to £6 each.
Agree. I wouldn't hesitate sending my daughter across the city to buy groceries in the middle of night if she wanted to - it feels that safe. Agree on the alcohol part too. I mean you would get arrested for that in Scandinavian countries aswell.
Aye. I grew up in Dubai, leaving in 2010. Even for me, it's surprising how much it has liberalized in the last 12 years.
Still a long way to go, but progress is happening every year and I'll give them credit for that.
Probably the only Middle Eastern ownership I could accept from a moral standpoint.
Can guarantee the Chinese won’t be bidding. Even if they were, the foreign secretary would probably intervene on the grounds of it being a threat to our national security.
I think we are still digesting the news. Also, I'm apprehensive to start speculating on what happens next because I haven't a clue. This is bigger than any transfer rumour. It still hasn't sunk in fully for me that the club is actually for sale.
Best news in years. Fiiiiiiinally
Homosexuality is still illegal in Dubai and it is still regularly criticised for human rights violations. Being one of the more liberal states where that is the case isn't enough. It's still abhorrent.
Will this consortium have enough though because the amount of redevelopment needed on ground and training facility won't be cheap,add to that money to improve both first XI and squad depth as well
Yup, do not want
To be fair 36 pages is a lot considering it’s not even been 24 hours since the news broke.
Isn't it a process for everyone? No country was 'born' right. Most of the West stands as a good example
Roman Abramovich?
recently they made it legal to have a baby outside of wedlock.. I mean they’re basically progressives at this point
You don’t need extreme wealth to compete with City on spending.
United are already bigger and have much further reach than City or Newcastle, it would be like someone buying Barcelona it could self sustain instantly.
Initial purchase would be large but most of the money the clubs spend would be its own.
Dont be blinded thinking we need equal wealth to Qatar, Abu Dhabi or Saudis That wealth is wonderful but it’s not like they use that entire wealth to spend they use a tiny tiny percentage to invest into these clubs to get them to a point of sustainability and propping themselves up.
United are already bigger and have much further reach than City or Newcastle, it would be like someone buying Barcelona it could self sustain instantly.
Initial purchase would be large but most of the money the clubs spend would be its own.
Dont be blinded thinking we need equal wealth to Qatar, Abu Dhabi or Saudis That wealth is wonderful but it’s not like they use that entire wealth to spend they use a tiny tiny percentage to invest into these clubs to get them to a point of sustainability and propping themselves up.
That would be even easier to walk away from than oil money sport washing.
Recovery from pre-pandemic levels yeah, but that can be said about most markets. The GDP is still expected to rise significantly and the tourism industry and the city itself is slowly getting back on its feet after being completely shut down. And Dubai has probably been working harder than any other market to diversify its economy for future sustainability. Again it's not as rich as Abu Dhabi or KSA PIF, but still a feck tonne of money circulating around DIC for us to be competing and developing.
I actually still can't believe this is true and happening.
In addition to the above, since the Raine Group did the Chelsea sale, I thought it could be interesting to look at the rough time schedule for that transaction:
1. Abramovich was of course aware that he was likely to be sanctioned by the UK since late February 2021.
2. Abramovich put up the club for sale on 2 March 2022. At this point, Raine Group was engaged.
3. Raine Group invited interested buyers to make indicative offers for the club, including of course presenting themselves. The deadline for indicative offers to be submitted was set to 18 March 2022.
4. Around six- to seven bids were believed to be made for Chelsea, including:
* Stephen Pagliuca -- Founder (I think) of Bain Capital, and co-owner of the Boston Celtics
* Todd Boehly
* Saudi Media Group
* Centricus -- "An entirely British backed bid led by London-based asset management firm Centricus "
* Nick Candy -- U.K. property developer. Interested in building a new London stadium?
* Martin Broughton -- Former LFC chairman, backed by consortium
* Ricketts family -- Cubs owner
And perhaps also one or more of:
* Oaktree Capital
* Woody Johnson -- Johnson, 74, is an heir to the Johnson & Johnson consumer products fortune.
5. By 25 March 2022, a short list was created with 3-4 bidders.
The Saudi Media Group's offer did not make the short list.
6. The shortlisted bidders was given until April 11 to make improved offers for Chelsea
7. A preferred buyer could not be selected by mid April, as intended.
8. On the 28 April, Boehly was named the preferred buyer.
9. On the 29 April, Jimmy Radcliff made a bid.
10. On 28 May, the sale to Boehly was approved.
Some thoughts:
- The Saudi offer did not make the short list with reference to how it had desire to do due diligence on the club which didn't play well with Chelsea's eagerness for a quick sale. From my POV, this is 99.9% a made-up excuse to not get Saudi owners of Chelsea. Like I can of course not be 100% certain, but a DD of a soccer team must be very light. Compare it to a company with 10 factories and 100,000 employees. My bet is definitely that they didn't want to sell the club from an Oligarch to a dictatorship.
The Saudi bid was rumored to be of 2.1bn, and the sale ended up being 2.5bn. But ultimately, what you do is that create this short list, and then give the bidders on it to bid over each other. So that doesn't mean much.
- The time table above, just under 4 months, is tight and Chelsea wanted to get something done quickly. But its at the same time nothing extreme. I would say that 3-4 months is possible, 6-8 months is giving the process good time, and if it goes beyond that -- there is either some hick-up or the Glazers are shopping for a higher bidder to come out of the woodwork.
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