It’s not a low ball offer when the asking price is ridiculously inflated above all reasonable costing.
Club Sale | It’s done!
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Yes and no. Without those funds being leeched from the club it could have done a lot more than just “sustain itself” which is what pisses people off. All the talk right now is how badly we need to invest in infrastructure, such as the stadium. That could have been done years ago if the Glazers weren’t actively diverting club generated funds into their own pockets, the opposite to what the owners of rival clubs were doing.
After the Chelsea debacle, I'm pretty sure Raine wouldn't really want to deal with SJR.
https://www.redcafe.net/threads/better-the-devil-you-know.475848
You started a thread on it, I knew I’d seen the suggestion before!
It won’t work for the simple reason that the equity being sold by the majority of the Glazer family will go with them. The remaining two would then be in a position where they have a heavily reduced holding, and if they wanted to “sell equity” from there it would either be by selling more of their own shares or issuing new shares which dilutes everyone’s position.
If they sell more of their own, that relies on them injecting personal cash into the company and, well, Glazers.
Diluting their position further seems extremely unlikely, as they then hold an even lower share in the club and have generated no cash for themselves whilst their siblings have walked off with a fortune.
That leaves debt, likely from someone such as Elliott at an exorbitant interest rate.
There’s an enormous amount of investment required, and the club is verging on insolvent because of how they’ve run it. It’s no longer sustainable, they need to exit.
Thanks. Hopefully just that then. I'd take either full takeover bidder really, I genuinely worry about United's future under the Glazer's, even as far as remaining a top flight team in the next 10-15 years.
If I'm not wrong, he's bidding for the ~ 70% of the Glazer's stake, so even if he places a 4.25B bid, that still values the club at the Glazers' expectations of 6B. If the Glazers are asking for 6B for their own stake, that's utterly ridiculous by any standards.
Who are they? The Mafia or something?
I don’t think the Glazers will stay I think they will extend the process until they either get the price they want which is from Jassim.
Or
They take the financing offer , stick around and sell in 5 years.
With the second we will essentially continue as is and end up around 7th and anything above will be due to ETH coaching.
To each their own, Jassims offer is the biggest and most exciting for myself.
Odd brief. If the Glazers ain't budging, then they'll eventually have to come to their asking price because they won't come back without getting Utd
I am really relaxed about this. There will be lots of people nearer to Manchester to get angry on my behalf.
Exactly Ed, which is why they need to go.
But, if say Spurs owners have pumped 500m into the club over 5 years. Do we know how much of that is debt they've taken on to put that money in? Or if it's been loaned? They are one of the most indebted clubs in the league. We also know Roman in total had loaned Chelsea over 1bn.
I'm not 100% sure on the exact figures they've taken out in dividends. The debt is the biggest burden that just hasn't allowed them to invest in the club. It's become unsustainable now, because of the investment that is clearly required. What we are now seeing, they really just aren't willing to pump their own money in when it is needed.
Anyway, this all escalated from me saying they have put money up for transfers. I don't want to defend them, I agree they need to go, 100%.
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If he bids £4.25b that is his enterprise valuation of the whole business. He would pay 69% of that figure so around £2.9b - not the other way around.
they'll rise it penny by penny up until the Glazers say yes. This is war of attrition baby!Odd brief. If the Glazers ain't budging, then they'll eventually have to come to their asking price because they won't come back without getting Utd
There was me and majority of everyone else hoping that this would be concluded by the end of Q1.
How does this part work? I suppose this is my question. It would be good to understand.
They might it sound like it's Harry Potter and the Order of the Qatar Bid
So you don’t think they will stay, you think they will sell at their price or they will stay. Rrrriiiiigggghhttt…..
Which year?
Just the state.Who are they? The Mafia or something?
Thats why, I suspect that there is either a leak in the Raine system ---- and so Jassim doesn't trust them or he has paid someone within the Raine team to extract information for him. Or Raine has created an environment where there is this tension.
Only a guess here.
I think the Glazers have no choice but to at least consider bids below what they asked for, reason being is that their other siblings want to sell sooner rather than later so even though the bids might be below what they asked for, they will still need to get the other siblings to agree and not accept any bid that does not meet their minimum
Ok, fair enough.
Qatar were briefing they were “very confident” earlier this week and Ducker, Morgan, Wallace, and a senior business reporter at the Telegraph put their name on the article. I think that was the most significant news this week. The Times are going today that the Qataris are negotiating until they get an agreement. I think that’s the second most significant. It’s going to be back and forth until they meet on price. Glazers want high, the Qataris know that but will try to get it down to Glazers’ lowest possible, maybe with some negotiating on other opportunities for the Glazers.
I don’t think you understand finance or company law. They own 69% of United’s cash flows by virtue of being equity owners. When we spend our club’s money we are literally spending their money as they OWN the club.Oh dear Tracy. The distinction (and the point you quoted posts were making) is that the transfer spend has come from club revenue, not out of the Glazers pocket.
They have put none of their own money into the club since the debt laden buyout.
I can’t believe there are still fans after 17 years who don’t understand the difference.
Yes, it’s not ideal or even a good thing but it is what it is.
Things will be happening today
I'm going to print out pictures of all the major players, stick them on the wall and link them with string to get an idea of what's really going on.
The Sheik has a mole in the Ratcliffe camp. Ratcliffe is going to offer £5.5bn and the Sheik will offer £5,500,000,001 a la Wenger.
Sounds like a good plan, let us know how it goes.
Saying the Glazers will either sell up or stay is certainly a bold prediction.
Gonna make the Glazers an offer they can't refuseWho are they? The Mafia or something?
We all know how it ended.
I'm almost certain that the original briefing was that the Glazers were looking for £4.5B minimum. This then jumped to £5B and it's only been the last week or so that the £6B number was been kicked about. Either the Glazers keep shifting the goalposts or none of these journos have any clue what's going on.
They're football journalists anyway and 99% of the time they get transfer news completely wrong. We're suddenly meant to believe that they're ITK when it comes to big business deals?
Part of the issue is that journos have no clue how the currencies work, they constantly switch between $, £ or € without bothering to do any conversions. I think it was reported many times before that the Glazers want $6b which would be around £4.9b.
Ah yes, you're right about that. I'm not surprised considering how they report transfer fees.
Oh well in that case they are great owners. Why did we ever question them? All hail Joel and Avi the saviours of Manchester.
Just one more thing, Publicly owned and traded corporations pay out a certain amount of profit to stockholders in dividends. It is not the ‘property’ of the stockholders until this happens, it remains a business asset.
GCSE business Studies fam. Simples.
I find it funny that there's talk of "oh the Glazers can't stay after this!" As though there'd be some sort of mass revolt. Barely anything would happen and they would carry on as usual sucking us dry. They will be very much aware that if the stay on then it'll be forgotten in a couple of weeks so where's the downside for them? They burn a few bridges but I reckon if they stay it'll be for good. Probably pass on what's left of the club to their 'heirs' eventually.
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Sorry for my ignorance on this, but say the bid is 5 billion quid, is that 5 billion just for the Glazer's shares? Or does that mean that they value the club at 5 billion and they are offering the Glazers 69% of that for the controlling stake?
Nah I’m not sure - I think there might be more momentum for protests etc
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