Club Sale | It’s done!

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clarkydaz

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Again.

Elliot loaned the money to buy Milan at FIFTEEN PERCENT.

It doesn't matter what journalists say, Joel Glazer cannot buy the rest of them out with that source of funding because the club cannot support a 2 billion loan at fifteen percent.
the 15 per cent was Milan, we dont know what this instance would be do we, especially in this climate
 

devilish

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To keep asking? Why would they keep asking? Beyond the initial investment requirements for the purchase and any infrastructure investment, why would they need to raise further debt?

And it is hard to project the ROI on this project. We don’t know what revenue projections have been put on this over the next 10-15 years. A lot of industry insight suggests that there is huge untapped potential in overseas markets, especially in mobile streaming rights, so what we see as an asset that has close to exhausted its growth potential, may well be seen as investors as an asset which has barely begun to explore its untapped potential.

The ROI on this project is unlikely to be measured in the payback period or annual ROI, it’ll likely be on long term asset value growth with an eventual exit strategy in mind. I would also anticipate that it’ll incorporate substantial real estate development as part of that valuation projection. An upside that could be substantial.

Without seeing the 3, 5, and 10 year pro formas and the business plan, I’m really just speculating. A safe assumption is that any for profit investment group buying the club, will have identified substantial revenue growth potential, new revenue streams, have the inside track on any expected disruptive changes to the market (such as a breakaway league), and factored in the substantial infrastructure investment required (and its potential upside).

Football clubs are typically valued at a much higher multiple of EBITDA than most other industries, which does suggest that there are more factors than just ROI which go into the consideration of asset value. But I think it would be naive to suggest that anyone investing close to 6bn in an asset, won’t be acutely aware of the market conditions and realities, growth potential, and won’t have utilised substantial industry expertise and data to determine the feasibility of the investment.

People use the parallel of the Glazer’s original LBO as a standard bearer for the evil of investment groups, but we are talking about relatively paltry sums compared to what it being discussed today.

Of course this will all likely be moot anyway, when the club is bought by a state backed sports washing machine.
Fair enough.

What do you think are the chances that the Glazers keep the club or that Elliott get their filthy hands on us?
 

BarstoolProphet

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To be fair it's not the British media he has to convince, if he's just a private individual then as I say it's strange it would even cross his mind that UEFA might have a problem with it.

We get weeks of speculation that Qatar/The Emir/QIA want to buy United which understandably generated speculation as to how this would work with them already owning PSG. Then out of the blue on Friday when the official bid goes in it turns out all the journalists were being silly and it was actually just a private individual who happens to be from Qatar that is bidding.
Who knows what Ducker asked his sources though. It's a heavy media-driven campaign to make it out that it's direct State of Qatar ownership (could or could not be true as of yet) so presumably they responded to that. Not everyone that mentioned Qatar said the sovereign wealth fund or the Emir himself would be involved, but it sure does generate more clicks (happened alot back when DIC wanted to buy Liverpool - even if it's way likelier in this instance).
 

IRONTUSK

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Quite a few rumours swirling that Qatar are ready to up their bid...which i`m guessing means they didn`t match the asking price. If true it also means Al Thani is serious and if that is true people may as well start getting used to it because I doubt anyone will be able to outbid him.
 

clarkydaz

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Regarding the raised ticket prices, surely this was probably planned for a few years now? Same prices for 11 years is a long time.

Isn’t this Richard Arnold actually just doing his job?
its worrying timing. Glazers are desperate for money to keep the club going forward, now ST prices go up.
 

Nogbadthebad

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the 15 per cent was Milan, we dont know what this instance would be do we, especially in this climate
Money is much more expensive now than it was then.

There is no scenario that Manchester United could support the loan cost necessary for joel glazer to maintain ownership, and certainly not with funding from Elliot.

That 2 billion would be buying out his family. We haven;t even got to the cost of a stadium, paying off the current debt or the need to invest in the teams yet.
 

clarkydaz

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Money is much more expensive now than it was then.

There is no scenario that Manchester United could support the loan cost necessary for joel glazer to maintain ownership, and certainly not with funding from Elliot.

That 2 billion would be buying out his family. We haven;t even got to the cost of a stadium, paying off the current debt or the need to invest in the teams yet.
im in no way saying its acceptable, it shows the staggering lack of respect they have for the club, even after the superleague stunt they tried to pull
 

Loon

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The Glazers maintaining ownership with MORE money they don’t have is the ironic ending to this farce.
 

Blood Mage

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If we dont get sold to Qatar dew to moral feelings, and they go and buy Liverpool instead.. I didn't see any uproar when Newcastle were sold, it happened swiftly and quietly. Same with PSG. Why is there always so much drama when its Man United.
Because a lot of our fans are sanctimonious weirdos who want to appear morally superior to fans of other clubs. Name another fanbase that would have tolerated Ole for so long.
 

Raoul

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You have to wonder if everything journos have posted in their usual desperate arms race to appear relevant despite not knowing much, is actually true. Beyond the official statements of the two bidders, its hard to believe anything.
 

shamans

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You have to wonder if everything journos have posted in their usual desperate arms race to appear relevant despite not knowing much, is actually true. Beyond the official statements of the two bidders, its hard to believe anything.
For this story journos don't know much I think. This isn't your 80 million player transfer it's a deal worth billions and these sort of things don't get leaked like transfer rumors. And then to have transfer/sports analysts comment on what is a financial deal makes it more likely they are all bluffing
 

mu4c_20le

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Because a lot of our fans are sanctimonious weirdos who want to appear morally superior to fans of other clubs. Name another fanbase that would have tolerated Ole for so long.
:lol: how did you choose our club anyways? Feels like such a chore supporting this weirdo club with weirdo values.
 

DevilRed

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Key points:

1. Consensus is that the bid is in the region of £4.5billion ($5.4bn) and it can go higher if needed.

2. HBJ (Jassim's father) personally owned almost half of Qatar Airways when he sold his shares to QIA back in 2014.

3. Much of Jassim's money is tied to HBJ's wealth, which is thought to be run into the billions. For what it is worth, the 2022 Sunday Times Rich List had HBJ's personal wealth at just over £2billion, a number many believe is very, very conservative.
It also doesnt hurt he is British educated, can speak fluent English and is a self proclaimed Manchester United fan. A young face for the new owners to present to the fans.

They really thought this one through.

I also don't believe for a second that this part of the family coming forward to be the public face, wasn't at the behest of the Emir. At least they are trying to prove/show seperation from other football clubs and entities.
 

horsechoker

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Can the Premier League stop Elliot from investing? The proposal sounds like unfit and unproper ownership.

While Qatar and Ineos come with flaws I don't think either is unfit to own the club from a financial perspective.

This might get me in trouble but if the Glazers don't sell I hope they die without being able to cash in on the club.
 

Plant0x84

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[QUOTE="romufc, post: 30185192, member: 117242"]
His dad was, just because he is a sheik means he ha access to all the money? Are you trying to say all 3000 members of the royal family have access to the money?

I love how if its "sponsored" its fine, yet if a Qatari national comes in, its tainted money :lol: :lol:

P.S so you would be fine if Qatar sponsored a UK national to buy the club, because it would be a sponsor?
[/QUOTE]

I haven't followed your post before, just noticed your posts the last few pages regarding Qatar's Royal Family where you seem to have no trouble dishing out one-liners and posts containing only emojies but would get up in arms about someone questioning INEOS bid - even respond with memes to emphasise your point.

As for examples:

Title of Sheikh = State-owned - " Does his title ‘sheik’ not tell you anything?" in response someone saying the bid might not be state-funded
State-backed = State-owned - " And they are all related… to the ruling family. State backed. "
Those that question INEOS and SJR bid = pro-oil money

You very well could be right that it's 100% state-owned (I have previously commented on the links) just find it odd that you are so focused on accuracies when it comes to INEOS but at the same time are taking a lazy approach to the other option.
Ok, gents I’ll try once more.

The Qatari bid for Manchester United is fronted by Sheik Jassim bin Hamad Al Thani. He is the son of HBJ (one of 15 kids by 2 wives) - HBJ is the former prime minister of Qatar and former head of the QIA. There’s your first link to the state.

Sheik Jassim is the chairman of Qatar Islamic Bank. It conducts its domestic business through 31 branches spread throughout the country, in addition to private centers for ladies (Just to make them feel special, presumably) and dedicated lounges for affluent customers (no riff Ralf allowed).

The single largest shareholder of QIB is the Qatar Investment Authority, Qatars state run sovereign wealth fund. There is your second link to the state. Sheik Jassim was also formerly employed by Credit Suisse. The QIA holds a stake in Credit Suisse.

The QIA's structure and decision-making procedures have been characterized as non-transparent. Spending decisions regarding the fund have been linked to the emir and the prime minister (regardless of whether they sit on the board of the fund).

The QIA was widely reported to have an interest in purchasing Manchester United but due to its involvement in QSI (QSi is subsidiary of QIA) who own PSG they would be barred from doing so, or at least one of the two clubs would be unable to compete in UEFA competitions for fear of the teams being drawn to play each other thus calling into question the integrity of the competition (presumably the Champions League).
Interestingly should any club wish to complain about Utd and PSG being owned by the same people, their first port of call would be the European Clubs' Association, which is chaired by Nasser Al-Khelifa, president of PSG, chairman of Qatar Sports Investment and a member of QIA and UEFA's executive committee.
All roads lead to this being a state buyout of United, funded by state money with Sheik Jassim being the ‘acceptably distanced’ face of the cover up operation, because nobody knows anything much about him - even his spokespeople who could say how old he is, or whether he is married with kids or not.



Here is a visual aid courtesy of the Daily Mail.
Sorry for the long post, but is that thourough enough? Got to be seen to be being fair to both bids. And not a meme of emoji in sight.
 

TheReligion

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Why are people losing their shit over the increased ticket prices?

The business doesn’t just switch off whilst this process is ongoing. That would be stupid.
 

JPRouve

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Why are people losing their shit over the increased ticket prices?

The business doesn’t just switch off whilst this process is ongoing. That would be stupid.
Religion and capitalism. Is that you Jassim?
 

adam118

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Glazers could be staying (I am hoping it is a tactic to scare bidders into increasing their offer) however I don't think ticket increases have any relation to the Glazers staying or not. This will likely to have come from Finance and budgeting in order to imply with FFP.
 

cyberman

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Interesting to see sentiment shifting. If the talk the Glazers might hold on is a bluff, this could suggest its working.
He’s just putting two and two together to get 5. There’s literally nothing to suggest this sale has changed in any way
 

stevoc

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Who knows what Ducker asked his sources though. It's a heavy media-driven campaign to make it out that it's direct State of Qatar ownership (could or could not be true as of yet) so presumably they responded to that. Not everyone that mentioned Qatar said the sovereign wealth fund or the Emir himself would be involved, but it sure does generate more clicks (happened alot back when DIC wanted to buy Liverpool - even if it's way likelier in this instance).
Well to be fair yes the reporting was very vague as to who was actually making the bid, that was either down to journalists playing the guessing game or the briefs being fed to them were purposely vague to gauge reactions.
 

crossy1686

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Regarding the raised ticket prices, surely this was probably planned for a few years now? Same prices for 11 years is a long time.

Isn’t this Richard Arnold actually just doing his job?
With the current rate hikes and inflation running wild, it’s no surprise ticket prices have increased after not increasing for 11 years or so. I don’t think people can be too surprised, it had to happen at some point.
 

Marcelinho87

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If we dont get sold to Qatar dew to moral feelings, and they go and buy Liverpool instead.. I didn't see any uproar when Newcastle were sold, it happened swiftly and quietly. Same with PSG. Why is there always so much drama when its Man United.
To be honest there was tons of drama surrounding Newcastle and the same human rights groups raising issues.

There is only added drama here because you're watching, whereas Newcastle you wasn't.
 

Bosws87

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You have to wonder if everything journos have posted in their usual desperate arms race to appear relevant despite not knowing much, is actually true. Beyond the official statements of the two bidders, its hard to believe anything.
Feels like a power battle for the future access to Manchester United in the media field.

Which companies will get preferential treatment.
 

7even

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Debt in any shape or form is from a financial standpoint worse than being debt free. 100% ownership is one million times better than 69% ownership.
A understandable and commited business plan is always preferable to a business plan who's vague and without definitive commitments.

That's why Ratcliffe's bid is unattractive and frankly directly bad. Any sane supporter has to be aware of that with an owner like him anything is possible.

I have had enough of bad owners. No more Glazers or anything close to them. No hedge funds. No JP Morgan and no Goldman Sachs. No more debt and dividends.

Finally we have a chance of being competitive for the next couple of decades. Free from shady business men.
The choice is simple and Ratcliffe is not part of my dreams.
 

Plant0x84

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Yep. also, apparently in Qatar you are not allowed to own property, businesses, shares or even take a wage because it belongs to the state.

Its a funny way, because he runs a bank that has state ownership, all money comes from a state and that isn't allowed.

The same people, if the UK/US state funded INEOS, we would have a problem.

https://www.gov.uk/government/news/uk-government-welcomes-ineos-automotive-investment-to-bridgend-site#:~:text=INEOS received UK Government funding,the outcomes of that work.

I guess those people have no idea what INEOS do.
When was the last time the UK or US government persecuted somebody for being homosexual or marginalised and maligned women? How many foreign migrant workers died when we rebuilt Wembley stadium?
This false equivalence needs to stop. There is no comparison between ME Islamic states and democratic western governments. Open your eyes.
 

romufc

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When was the last time the UK or US government persecuted somebody for being homosexual or marginalised and maligned women? How many foreign migrant workers died when we rebuilt Wembley stadium?
This false equivalence needs to stop. There is no comparison between ME Islamic states and democratic western governments. Open your eyes.
Oh so if they own united, you think homosexuals or women will get marginalised?
 

alexthelion

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“Suffered”, whilst spending the second most of anyone in the league.
Football’s equivalent of first World problems?

Pretty much all clubs have debt, unless State owned, something you were soo sooo against. Though in fairness, even City took out a new debt of almost 500 million against the club last year.

What we also know is that INEOS bid is also saying any new debt will be on them, not us.
Whilst ignoring any infrastructure improvement.

New debt maybe, they haven't said what they will do with the current debt. Will they really take loans of 6 8 bn to buy the club and build a new stadium? I very much doubt that, personally.

People are allowed to change their mind you know, based on what we currently know.
 

LawCharltonBest

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The Glazers have so much to lose by pulling the plug at this point.

The Raine Group will earn the most by selling. Also, why would it take couple of bids for the change in mind set? The bidders would have already spoken to The Raine Group/Glazers on how much they would offer. There's no way they invite these bids if they're not serious.

And also, the line in the article goes about how attached Joel is to United...when was the last time he came to Manchester and watched a game at his beloved United?

Make no bones about it, they are going.
Hopefully you are correct.

I think the Glazer cnuts will have to go public with their definitive intention to either sell or not sell within the next couple weeks now that they've invited full takeover bids. At the moment it's still "exploring alternatives" which will leave wriggle room and encourage doubt.
 
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