Club Sale | It’s done!

[Woziak]

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I said this earlier in a post, the commission the Raine group is dependent on how high they drive the final sale. The numbers of $1bn for each siblings is a total of $6.2bn which pays a maximum of $200m commission and then $1bn each. This converts to £5.125bn. Which is is probably the absolute ceiling of Qatar bid, especially with the share value dropping somewhere between £4.75bn and £5.125bn is the final amount for sale and their commission fluctuates from $100-200m, now we know what most of us had suspected, it’s a pretty sure bet United fortunately or unfortunately depending on how your morale compass sits confirms the bid with the most money will buy the club.

 

[ATXRedDevil]

I'm hoping you'll say this is someone significant who has recently worked for Raine, possibly on the Chelsea deal

But i'm guessing he's just a random guy?

I work in capital markets and do public m&a as an attorney. Bank success fees are usually a % of deal value for this type of transaction. Raine has every incentive for them to sell.

 

[Zaphod2319]

Found that bit out, what sort of owners are they. Saw others are another lot of money people.

I am a braves fan. They have been awesome. The stadium they built for Atlanta is amazing, the stadium has several city blocks of high end shops around it. We have been to games there, really nice.

 

[DomesticTadpole]

I am a braves fan. They have been awesome. The stadium they built for Atlanta is amazing, the stadium has several city blocks of high end shops around it. We have been to games there, really nice.

That's something. Thanks for the information.

 

[Ottawa MLS Fan]

https://www.reuters.com/lifestyle/s...w-financing-interest-ares-sources-2023-02-22/

"Man United bids draw financing interest from Ares -sources"

 

[Telsim]

https://www.reuters.com/lifestyle/s...w-financing-interest-ares-sources-2023-02-22/

"Man United bids draw financing interest from Ares -sources"

Oaktree, Elliot, now Ares. The abominable vultures are circling.

 

[cyberman]

https://www.reuters.com/lifestyle/s...w-financing-interest-ares-sources-2023-02-22/

"Man United bids draw financing interest from Ares -sources"

Ares, which oversees roughly $350 billion in assets, has offered funds in the form of structured equity to at least one bidder, one of the sources said. However, this bidder turned down the funding because the terms were unattractive, he said.


These companies are trying their luck and it’s not big news they’re coming forward because of it imo

 

[calodo2003]

I am a braves fan. They have been awesome. The stadium they built for Atlanta is amazing, the stadium has several city blocks of high end shops around it. We have been to games there, really nice.

You ever go to Turner Field or, heaven forbid, Fulton County Stadium?

The new stadium is quality.

 

[Chesterlestreet]

That’s basically state owned in all but name if we’re using Qatar rules right?

Well, that depends on how one regards Roman's relationship with Putin over the years (which is, let's say, a pretty complicated question). But I personally wouldn't have welcomed Roman as a United owner either, so it's kind of a moot point: Roman is shady as feck in all sorts of ways.

I asked days ago if there’s any proof the royal family literally controls every investment by rich people from their region or can they not just ask permission?

You mean the Qatari royal family, I take it.

The question is - I suppose - this: How likely is it that a Qatari "businessman" acts entirely on his own, i.e. entirely independently of the QIA/the state/the Emir launches a bid for Manchester United?

In general? Er...not bloody likely?

In this particular case (given what we know about the person in question)? Likelihood = zero.

 

[DownRiver]

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[cyberman]

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[devilish]

Rumor has they are Oaktree and Liberty Media.

yep United muppeteers mentioned them

 

[Blood Mage]

Asset strippers are smelling blood and some of you are squeamish about Qatar buying us...

 

[amolbhatia50k]

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I’m now ABG - Anyone but the Glazers (but preferably someone likeable)

 

[MDFC Manager]

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We're fecked if INEOS wins and they've got one of these vultures as one of their partners. Imagine our state when Jim kicks the bucket

 

[Zaphod2319]

You ever go to Turner Field or, heaven forbid, Fulton County Stadium?

The new stadium is quality.

I have been to both. Fulton was ancient by the time I got there. I liked Turner, but leaving there in a car was an absolute nightmare.

 

[Rolaholic]

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All these venture capital backed bids are making me nervous...

 

[MTF]

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Just to reconcile something here, while the initial reports did mention Goldman Sachs and JP Morgan as sources of funding (via debt for INEOS) for their bid, it could still be the case that either GS or JPM ends up being just the financial advisor to INEOS for this bid. There being an equity partner in the bid and possibly no debt funding doesn't mean that investment banks will have no roll at all.

 

[sglowrider]

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All these venture capital backed bids are making me nervous...

Don't you worry. We have 'right' on our side.

 

[calodo2003]

I have been to both. Fulton was ancient by the time I got there. I liked Turner, but leaving there in a car was an absolute nightmare.

Lived down near the stadium, even for local residents home games were a nightmare.

 

[simonhch]

I said this yesterday that the Ineos bid would be a consortium, as well as American hedge fund consortium merging as a serious bidder. Looks like we are headed in exactly that direction.

 

[Marcelinho87]

I said this yesterday that the Ineos bid would be a consortium, as well as American hedge fund consortium merging as a serious bidder. Looks like we are headed in exactly that direction.

Likely Qatar will blow them all out of the water if it wants to.

 

[Eplel]

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All these venture capital backed bids are making me nervous...

These guys know that a financially backed United will be a commercial globetrotter.

 

[Teja]

Please no more leveraged buyouts. The PL fit and proper test has to apply to the holding company taking out loans rather than just to the club taking out loans.

If the expectation is that the club pays loans one way or the other through its revenue stream, the deal should be a non starter.

I'm more and more convinced that Qatar is the way to go, screw these American hedge fund billionaires and their fancy financing structures.

 

[Eplel]

Please no more leveraged buyouts

I'm not an economic genius, but I don't believe you can do a leveraged buyout when the asset is already leveraged.

 

[Teja]

I'm not an economic genius, but I don't believe you can do a leveraged buyout when the asset is already leveraged.

Oh I'm sure they'll find a way. We currently have 1bn debt against a 4-5bn asset. Why can't you borrow 2bn from banks and fund 3bn yourself? Consolidate the terms of the existing loans etc. Throw the fans a bone by saying couple hundred million in squad investments.

 

[Raoul]

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Good convo

 

[LordSpud]

Off topic but what does everyone make of the Muppetiers nowadays? I remember a few years ago they were ridiculed on here with their ITKs bollocks but it seems like they've dropped that and look fairly legit now?

 

[Revan]

I sometimes explain or some might say 'defend' what financial firms do given some familiarity with the business models, but when it comes to Elliott my impression is pretty much what you're saying: they just see $, and usually shorter-term $ at that, to be extracted painfully if necessary.

They essentially are famous for a) buying bonds of states that are almost going to default and then court litigations with them for years until the state pays (Argentina is the most extreme example where they kept the bonds for 15 years doing court litigations with them, at some stage they even convinced Ghana to give to them an Argentinian navy ship, which was later overruled by some higher court), b) buying stakes at companies and forcing them to make changes and do whatever Elliot says, at times by doing literally blackmailing (in one case they found records from the divorce of the company’s CEO which amongst other things showed that he used physical abuse on his ex-wife and Elliot published them forcing the CEO to resign).

They are arguably the most feared hedge fund, and use the most extreme tactics to force states/companies do their bidding. Paul Singer (the founder) is also one of the biggest donors to GOP (around same level as Koch brothers and Robert Mercer).

 

[JagUTD]

Some slightly annoying guy on YouTube has done a fairly in-depth dive into the Qatar bid and torn it to shreds for the farce that it is.

HITC Sevens is the channel and the narrator has that monotonous sarcastic voice, but the content is worth watching.

It goes deeper into who Qatar are, and it's not pretty, treatment of certain groups pales in comparison, who the guy taking over us is and how it's impossible for him to have anywhere near the funds required, nor for his dad to have the required wealth.

 

[Dion]

Off topic but what does everyone make of the Muppetiers nowadays? I remember a few years ago they were ridiculed on here with their ITKs bollocks but it seems like they've dropped that and look fairly legit now?

That's because they no longer attempt to provide "itk" info and migrated to being another aggregator account.

 

[Judas]

The mad thing is, if we get to one of these vile vultures, who will be Glazers part two, you won't see pieces crying about the death of our club. fecking horrible reading all this.

 

[cyberman]

Some slightly annoying guy on YouTube has done a fairly in-depth dive into the Qatar bid and torn it to shreds for the farce that it is.

HITC Sevens is the channel and the narrator has that monotonous sarcastic voice, but the content is worth watching.

It goes deeper into who Qatar are, and it's not pretty, treatment of certain groups pales in comparison, who the guy taking over us is and how it's impossible for him to have anywhere near the funds required, nor for his dad to have the required wealth.

I’ll check this out. Thanks

 

[Raoul]

Stock price is already down another 3% this morning in the first 30 minutes of trading.

 

[sglowrider]

They essentially are famous for a) buying bonds of states that are almost going to default and then court litigations with them for years until the state pays (Argentina is the most extreme example where they kept the bonds for 15 years doing court litigations with them, at some stage they even convinced Ghana to give to them an Argentinian navy ship, which was later overruled by some higher court), b) buying stakes at companies and forcing them to make changes and do whatever Elliot says, at times by doing literally blackmailing (in one case they found records from the divorce of the company’s CEO which amongst other things showed that he used physical abuse on his ex-wife and Elliot published them forcing the CEO to resign).

They are arguably the most feared hedge fund, and use the most extreme tactics to force states/companies do their bidding. Paul Singer (the founder) is also one of the biggest donors to GOP (around same level as Koch brothers and Robert Mercer).

They must smell blood or desperation if the glazers are looking at partnering up.

 

[LawCharltonBest]

The mad thing is, if we get to one of these vile vultures, who will be Glazers part two, you won't see pieces crying about the death of our club. fecking horrible reading all this.

Additionally fans of other clubs clamping down on how evil Qatar is. Not because they care about human rights, but because they simply don't want to see Man Utd be successful again. Same ones would be dancing with glee if Shiek Jassim wanted to buy their club.

It is all shit reading and a horrible thing to drag out as we don't know the future of our club. I expect this week is going to be very quiet on the news front. When do we expect the next big update?

 

[DownRiver]

Stock price is already down another 3% this morning in the first 30 minutes of trading.

Very worrying as there may be inside rumours of not wanting to sell based on reports. However, I am a bit more optimistic because Joel holds around 14% of shares, and if the other family members get their price then he will most likely sell.

 

[Judas]

I thought business wise Glazers weren't idiots, but the tanking of the stock is bonkers idiocy.

 

[MDFC Manager]

Stock price is already down another 3% this morning in the first 30 minutes of trading.

Any big volumes being bought?

 

[LawCharltonBest]

Stock price is already down another 3% this morning in the first 30 minutes of trading.

Surely the Glazers have to wake up and see that nobody has any confidence in their ability to run the club..

And presumably this isn't going to help with them driving the price up? If it keeps falling, perhaps Raine will leak their intention to fully sell up. Qatar or Ineos will do for me if it keeps Glazers and Hedge Funds away