Club Sale | It’s done!

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FlawlessThaw

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The great manager is the crucial part, City won their first PL in 2012, in the next 5 years the league winners read Utd, City, Chelsea, Leicester, Chelsea. Their recent domination (4 out of 5, likely 5 out of 6 title soon + regular CL semis appearances) is down largely to one man. It’s like all the ABUs crying about us buying refs and titles while Fergie were dominating the league. The same Fergie who saw off Chelsea who distorted the market to an even bigger degree than City did, winning 5 titles to their 3 in the 9 years from Abramovich takeover to his retirement. Money can be absolutely mismanaged, it provides you with a baseline but it’s not a guarantee for success, us, Chelsea this season, PSG falling to team with a tenth of their budget, Moshiri at Everton, the list is endless. We have a big enough revenue stream to compete if we sort ourselves out, and pumping in more and more money to get the Mbappes of the world isn’t going to magically solve the problem.
Yeah I agree great managers play a huge role but in your own example in the PL, Oil clubs won 4 out of the 6 premier league titles. So getting the money in does play a huge role. I think the key thing that a huge spend that a lot of the oil clubs end up doing is putting in the investment behind the scenes, City were gearing up long before Pep took over and from an infrastructure perspective far outstrip us. That's the bit that needs money being pumped in, not just the Mbappes of the world. Of course on the really rare occasion a team like Leicester or Montepellier will win the league but realistically that's not something to hold your hat on.
 

afrocentricity

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I've noticed he doesn't say "heh" as much now, not much at all..... dunno what to make of that
 

InfiniteBoredom

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Yeah I agree great managers play a huge role but in your own example in the PL, Oil clubs won 4 out of the 6 premier league titles. So getting the money in does play a huge role. I think the key thing that a huge spend that a lot of the oil clubs end up doing is putting in the investment behind the scenes, City were gearing up long before Pep took over and from an infrastructure perspective far outstrip us. That's the bit that needs money being pumped in, not just the Mbappes of the world. Of course on the really rare occasion a team like Leicester or Montepellier will win the league but realistically that's not something to hold your hat on.
Despite their state of the arts academy/training centre and achievements at youth team level, how many youngsters made the grade at City and Chelsea, or contributed meaningfully to their success? I counted Foden and Mount. It might bear fruit in the future for them, but I honestly think their impact is massively exaggerated. What worked for them is a competent set up, that identify the right manager, that bring in the right players, that cut the cord when performance dips instead of letting it spiral out of control, all of which can be achieved without unlimited funds.

Yes, it’s embarrassing to play under leaky roof at OT, yes, it’s embarrassing when news made the papers that the pool players use for recuperation has broken tiles, but ultimately, those aren’t good enough excuse for a team that consistently has top 3 wage bill + transfer spend in the league to miss out on CL football 4 times out of 10 and bottling a title challenge anytime it was offered. It’s nice to have a shiny new stadium, but both Arsenal and Spurs have proved that it did diddly squat to their sporting ambition. I’m of a mind to see what we can achieve first with competent people in charge, instead of resigning to the ‘if you can’t beat them, join them’ mindset.
 

Sviken

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Liverpool ran City close the last few years and Assna but for the choke would have pipped them this year, on smaller budgets than us.
True, but it's quite clear that Liverpool have burned out and Klopp doesn't have the unlimited budget to invest and rebuilt constantly like Guardiola. Sure, you can compete with oil clubs for a short period of time, but eventually they'll just grind you out.
 

Rhyme Animal

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The great manager is the crucial part, City won their first PL in 2012, in the next 5 years the league winners read Utd, City, Chelsea, Leicester, Chelsea. Their recent domination (4 out of 5, likely 5 out of 6 title soon + regular CL semis appearances) is down largely to one man. It’s like all the ABUs crying about us buying refs and titles while Fergie were dominating the league. The same Fergie who saw off Chelsea who distorted the market to an even bigger degree than City did, winning 5 titles to their 3 in the 9 years from Abramovich takeover to his retirement. Money can be absolutely mismanaged, it provides you with a baseline but it’s not a guarantee for success, us, Chelsea this season, PSG falling to team with a tenth of their budget, Moshiri at Everton, the list is endless. We have a big enough revenue stream to compete if we sort ourselves out, and pumping in more and more money to get the Mbappes of the world isn’t going to magically solve the problem.
I agree with much of what you say, but it’s not ‘one man’ who’s created that for City - it’s the infrastructure.

City won the PL by a point last season after Guardiola spent how much more than Liverpool?

And this season, they’re only on for the league because Arsenal completely bottled it and drew to West Ham and fecking Southampton.

Arsenal should’ve been able to lose that City game and still win the league.

Guardiola is a flawed manager who spends a ridiculous amount of money and can’t assemble a team to keep a clean sheet. He’s obviously a good manager but without Haaland this season they’d be battling for third with Utd and Newcastle.
 

FlawlessThaw

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Despite their state of the arts academy/training centre and achievements at youth team level, how many youngsters made the grade at City and Chelsea, or contributed meaningfully to their success? I counted Foden and Mount. It might bear fruit in the future for them, but I honestly think their impact is massively exaggerated. What worked for them is a competent set up, that identify the right manager, that bring in the right players, that cut the cord when performance dips instead of letting it spiral out of control, all of which can be achieved without unlimited funds.

Yes, it’s embarrassing to play under leaky roof at OT, yes, it’s embarrassing when news made the papers that the pool players use for recuperation has broken tiles, but ultimately, those aren’t good enough excuse for a team that consistently has top 3 wage bill + transfer spend in the league to miss out on CL football 4 times out of 10 and bottling a title challenge anytime it was offered. It’s nice to have a shiny new stadium, but both Arsenal and Spurs have proved that it did diddly squat to their sporting ambition. I’m of a mind to see what we can achieve first with competent people in charge, instead of resigning to the ‘if you can’t beat them, join them’ mindset.
I think the impact is quite important for a number of different factors. It helps attract the right manager and the right players when it's not simply just about money. And if then they need any further investment that can be made as well because of the fact that the achievements at youth level often bears fruit in the fact that it's a constant revenue stream. City have taken advantage of this already and Chelsea will continue to do so in the summer when they have to sell players.

It's far from embarrassing that United have gone from having one of the best facilities to one of the worst for the top teams. I'm of the view that if you can keep investing in the right things and create great place to work in you will attract the competent people in charge rather than just hope you get lucky as you never know how good someone will be. City created that right environment for the closest thing to a sure to a right manager and that's the place to start from. Otherwise yeah let's hope we do a Leicester in a few years time.
 

Rightnr

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True, but it's quite clear that Liverpool have burned out and Klopp doesn't have the unlimited budget to invest and rebuilt constantly like Guardiola. Sure, you can compete with oil clubs for a short period of time, but eventually they'll just grind you out.
Exactomundo. Usain Bolt might get ahead in a marathon with a burst of speed but eventually he'll succumb to the sheer endurance and consistent high level of a proper marathon runner.

Now I hopefully don't need to explain who's who in that example.
 

InfiniteBoredom

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True, but it's quite clear that Liverpool have burned out and Klopp doesn't have the unlimited budget to invest and rebuilt constantly like Guardiola. Sure, you can compete with oil clubs for a short period of time, but eventually they'll just grind you out.
They had a bad season before last barely squeaking top 4 after their Covid title. It could just be that Klopp’s style of football doesn’t lend itself well to sustained dominance, he had those at Mainz and Dortmund after all, I wouldn’t take it as definitive proof of being unable to compete with oil money in the long term.

I agree with much of what you say, but it’s not ‘one man’ who’s created that for City - it’s the infrastructure.

City won the PL by a point last season after Guardiola spent how much more than Liverpool?

And this season, they’re only on for the league because Arsenal completely bottled it and drew to West Ham and fecking Southampton.

Arsenal should’ve been able to lose that City game and still win the league.

Guardiola is a flawed manager who spends a ridiculous amount of money and can’t assemble a team to keep a clean sheet. He’s obviously a good manager but without Haaland this season they’d be battling for third with Utd and Newcastle.
City had the same set up and backing for Mancini and Pellegrini, both did not achieve that level of dominance.

You can add all the caveats you want about Guardiola, but he has lost only 3 titles since he started taking charge of senior football teams, that’s an insane record regardless of his financial backing. Carlo Ancelotti is probably the greatest CL manager to date and he’s bottled his fair shares of league title, that consistency is not just a matter of money, Fergie himself will tell you how hard it is to motivate a league winning team to go out and do it again and again and again.
 

DownRiver

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Greenwashing. Welcome to these types of news stories linked with Man utd. The below story is from this week alone. I hope all of you morally aligned individuals don't turn a blind eye to the climate change contribution and the environmental impact of INEOS's operations.

Environment groups challenge decision to approve £3.5bn Ineos facility in Antwerp saying it will make climate crisis worse




The biggest petrochemical plant to be built in Europe in 30 years will be a “carbon bomb” that will worsen the climate crisis and threaten human life, environmental groups including the NGO ClientEarth will argue in court.
Fuelled by ethane from shale gas fracking in the United States, the “cracking” plant to be built in Antwerp by Sir Jim Ratcliffe’s company Ineos will create ethylene and contribute directly to huge increases in plastic production on a scale not seen in Europe, they argue.

ClientEarth and 13 other organisations will say in a Flemish court on Tuesday that the plant, known as Project One, should never have been given the go-ahead by authorities. They say the permit infringes EU environmental regulations and will adversely affect the climate, air quality and human health, as well as protected natural areas.
Increased global heating, pollution from plastic pellets, excessive nitrogen deposits, particularly in protected natural areas, and the health implications of increased air pollution from the cracking plant are all cited as serious negative affects of the plant going ahead.
“This will be the largest petrochemical plant in Europe to be built in the last 30 years,” said Tatiana Lujan, a lawyer from ClientEarth. “It is a carbon bomb which will impact human health and the environment.
“In the time this case has been running, the evidence of the environmental and human harm that extracting and using petrochemicals to make plastics has snowballed. Meanwhile Ineos continues to fight to grow the industry.
“We’re in court to make sure that the true impacts of Project One are heard and understood, and the right decisions are made.”
ClientEarth and its partners, which include organisations fighting plastic pollution, say the permit for the plant failed to take into account indirect climate effects as required by EU legislation. They say the greenhouse gas emissions created by the plastic production from the ethylene have not been mapped out completely.
The NGOs argue that Antwerp authorities, which granted the permit in December 2021, failed to consider the plant’s lifetime greenhouse gas emissions, as well as the damage nitrogen pollution would wreak on local wildlife, and that as a result the approval was illegal under EU and national laws.
Using intense heat and pressure, the plant will “crack” the bonds in ethane gas to create ethylene, which can then be turned into polyethylene, used to make packaging and plastic bottles.
ClientEarth argues that the main consumer of the ethylene produced at the plant will be Ineos Manufacturing Belgium, which produces consumer plastic and in 2018 obtained a permit to expand its plastic production to 780,000 tonnes a year. The NGO says scientific evidence of the harmfulness of plastics to human health, biodiversity and the climate is increasingly compelling.
The United Nations says the impacts of plastic production and pollution on planetary crisis of climate change, nature loss and pollution are a catastrophe in the making.
The Dutch border lies 2.5 miles (4km) from the plant, and separately the authorities in Zeeland and North Brabant are challenging the granting of the permit to Ineos.
In 2019 Ineos’s billionaire owner announced the company had secured £3.5bn in financing for Project One at a signing ceremony with top Flemish politicians. “We’ll become stronger in Europe as a petrochemicals player,” said the Ratcliffe at the time.
Ineos says the plant would be the “most environmentally sustainable cracker in Europe”. Its website says: “The olefins that we will produce will have an environmental footprint that is less than half of the average European naphtha cracker.
“The hydrogen that is generated during the production of ethylene (more than 100,000 tons of per year) will be used as environmentally friendly fuel as burning hydrogen does not release any carbon. This reduces our carbon footprint substantially, displacing traditional hydrocarbon-based fuels. And our electricity use is covered by renewable energy, for which we concluded three large wind energy contracts with Eneco, ENGIE and RWE.
The “flexible” design of the plant also means that it will be able to “utilise carbon capture and electrification when these technologies mature”, the company says.
The Guardian has approached Ineos for further comment.
The hearing will take place before the council of permit disputes, known as the Raad Voor Vergunningsbetwistingen in Flemish.
 

Woziak

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You mean their PR game is better.
Exactly, if they have bid less than SJR that’s hugely unexpected when Keegan put out Sheikh Jasim doesn’t understand why SJR is making a bid because they would always outbid him!

Their PR game has or will backfire unless something comes in this week with a much stronger bid!
 

HarryP

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True, but it's quite clear that Liverpool have burned out and Klopp doesn't have the unlimited budget to invest and rebuilt constantly like Guardiola. Sure, you can compete with oil clubs for a short period of time, but eventually they'll just grind you out.
Utd is a different beast to Liverpool. We haven't even been at the top for a decade and we still have more financial muscle than Liverpool.

The idea Utd can't compete without oil money is an uneducated view.

Chelsea don't have oil money anymore but their new owner has still splaffed over £400m on new players within 12 months and has pledged £1.5b on a stadium redevelopment.

How much more so you think owners who have oil money are going to spend compared to Boehly? Zero and they may even spend less.

What matters is club revenues and the ability to have a high FFP threshold. Utd is one of the best placed clubs in the world for this. After this it's about having the right expertise and spending the money wisely. The sheer desperation some are displaying for oil money is misguided.
 

jm99

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Utd is a different beast to Liverpool. We haven't even been at the top for a decade and we still have more financial muscle than Liverpool.

The idea Utd can't compete without oil money is an uneducated view.

Chelsea don't have oil money anymore but their new owner has still splaffed over £400m on new players within 12 months and has pledged £1.5b on a stadium redevelopment.

How much more so you think owners who have oil money are going to spend compared to Boehly? Zero and they may even spend less.

What matters is club revenues and the ability to have a high FFP threshold. Utd is one of the best placed clubs in the world for this. After this it's about having the right expertise and spending the money wisely. The sheer desperation some are displaying for oil money is misguided.
Oil money isn't 100% necessary to compete and we should be OK going off our own revenues, but there's so much in this thread where people say that money doesn't guarantee success and to look at us and Chelsea. We're not the best example because over the last decade we basically needed an entirely new first 11 at the start of it, we had to buy experience because we didn't have time to buy youth and this has meant needing replacements more frequently, we've maybe spent similar amounts to city but they started the decade with a far stronger side.

And Chelsea will have a serious reckoning in the next few years if these signings aren't successful, sure they amortised the payments over several years, but that means in the next 5 to 8 years they'll have these payments every year. And they're locked into long term contracts on fairly high wages. Boehly was banking on quick success generating higher revenues,if that doesn't materialise then they'll be seriously limited in their spending
 

TheGodsInRed

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I am talking of a situation where SJR wants to invest own funds into the club, say they want to fund the stadium upgrade using INEOS' resources. The other shareholders will benefit from the growth achieved by this investment without putting a cent in themselves.
That's business for you. Shareholders have made their investments already by buying the original shares, and they get to profit from further investment without putting more in themselves.

If you have the majority share in a Buisness and you need to invest, no one else is going to do it for free on your behalf.
 

TheGodsInRed

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Utd is a different beast to Liverpool. We haven't even been at the top for a decade and we still have more financial muscle than Liverpool.

The idea Utd can't compete without oil money is an uneducated view.

Chelsea don't have oil money anymore but their new owner has still splaffed over £400m on new players within 12 months and has pledged £1.5b on a stadium redevelopment.

How much more so you think owners who have oil money are going to spend compared to Boehly? Zero and they may even spend less.

What matters is club revenues and the ability to have a high FFP threshold. Utd is one of the best placed clubs in the world for this. After this it's about having the right expertise and spending the money wisely. The sheer desperation some are displaying for oil money is misguided.
Exactly, it's about maximising turnover as the new rule will be clubs only being able to invest 70% in its players. So the only real way to increase our transfer butget will be to make more money, not get handouts from rich owners.
 

Womp

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Only thing I'm curious about is whether taking on further debt and not clearing the current debt with Ineos will impact our ability to build new infrastructure (stadium, training ground etc.) without severely impacting our ability to sign players and remain competitive.
 

croadyman

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It's definitely surprising, I thought eventually they would just make an offer that would blow INEOS out of the water and force the Glazer's hands. It's possible that they still will now they know approximately to what INEOS' best offer amounts.


It's a state bid, the resources available to them are pretty much unlimited and yet as far as we are aware they've thus far offered less per share than INEOS. Those promises unless they actually make an offer that convinces the Glazer's to sell are worthless. To take it to an extreme someone could offer £10 for the club and promise to invest £3 billion in the stadium and the club, that isn't going to be accepted.
Yeah I expected them to deliver a KO bid with their backs against the wall,however then I remember their statement of not overpaying. On the other hand we have also heard they were prepared to do what it takes so feels like mixed messages.
 

croadyman

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PSG have spent over 1.5 billion on transfers in 12 years under the Qataris. Of course they should be winning Ligue 1. They started in a much better position than Nice pre takeover too and have incredible potential as the capital city club with a ridiculously good catchment area.

Nice have been owned by INEOS for 3 - 1 great year, 1 average one and a poor one so far. However, they have just appointed one of the best minds in the French game. The sample size is really small.

The heartbeat of United is our youth is development. PSG, until recently, sold off many of its young talents like Nkunku, Diaby and Maignan. Nice have been buying young French players like Todibo, Thuram, Beka-Beka and Diop.

I’d say INEOS have made big mistakes so far with Nice. I’m not saying they’ve been great, though I do think they’re showing signs of learning their lessons. However, PSG, in my view, have been ran in a very cold, corporate way - big egos, lack of squad balance, selling off exciting young home grown players etc.

My point is that people shouldn’t automatically assume that the Qataris will give us the dream football strategy that most United fans want. A lot of how PSG has been run has been the antithesis of what most of us want.
The one potential appointment of Ratcliffe that does interest me is Mitchell,you have seen with the likes of Mane, Upamecano and Alderweireld what he can unearth given opportunity
 

NK86

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Sorry to say, but it’s you on this post speaking nonsense. In terms of INEOS (a company who turn over at least 50bn annually) the current Glazer debt (750m) is a small drop on their vast ocean.
It has been reported (by Bloomberg for one) that sir Jim has sought finance from JPM and GS to cover this existing debt, and it will be borne by INEOS. The further up the group they can place it, the better it will be in terms of tax deductions benefit to INEOS. In effect in that scenario the club will be debt free, and unlikely to pay out dividends so all revenue will be free to be reinvested.
As for your final point none of us can know SJRs true intentions, but given the statement put out when the first bids went in it’s reasonable to assume money has been set aside to fund this summer in the event that they take control. Any infrastructure improvements will likely be debt financed but that’s perfectly normal (see spurs and Arsenals new grounds) and frankly why shouldn’t the club pay its own way. We are more than capable, especially with the Glazers out of control of the club.
Putting the debt on Ineos and Ineos bearing the payments for it are very different. United could still be making annual interest payments to Ineos who could be just loaning that money to United. Would it make it more palatable to you?

Now before you say why would a behemoth like Ineos do so, you need to understand that they have their own debt repayments kicking in from 2026. They will be taking on billions in debt for the acquisition as well, so there's nothing to say one way or another that United still won't be on the hook for the existing debt, which will be a real kicker.
 

Bosws87

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I do wonder though, whether the reality behind those reports is as follows:

1. SJR bid for 51% at x per share (let’s say £10 per share for ease); and

2. SJ bid for the 69% (shares held by the glazers) at y per share (£9.50 per share for ease.

The reports stating that SJR has outbid SJ would be partly true without it meaning he has put more money on the table. Also note some reports stated that SJR’s bid ‘valued the club higher than SJ’s bid’ rather than stating he had made a bigger offer.

Think we all just need to chill and watch it unfold. For a couple days.
That’s exactly where we are up to and the glazers would get more overall money in their pockets from the Qatar bid.

It feels like the media have just gone for the title and headline which would cause the biggest stir and in reality it’s a lot closer.
 

Bosws87

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Can someone summarise the latest state of play? Ineos or Qataris?
Ineos have valued the glazers shares at a higher price but are looking at purchasing less with the possibility of the glazers staying on.

Qatar have offered more physical money but their offer values the shares of the glazers at a lower price.

So take more money from the Qataris or take less but still have a remaining stake in the club but with no control and more then likely a clause to sell their remaining percent at the same rate as the original chunk were purchased for “x” amount of years.
 

Thiagoal

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Anyone who thinks INEOS will remove the debt is dreaming. They will not give the donkeys Avram and Joel and the other 30% in the stock market a free ride.
If Ineos have the funds to take over and remove the debt then why wouldn’t they? At a time of rising interest rates, paying off the tens of millions of interest a year will ultimately eat into their profits and ultimately harm their asset.
 

Pickle85

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Greenwashing. Welcome to these types of news stories linked with Man utd. The below story is from this week alone. I hope all of you morally aligned individuals don't turn a blind eye to the climate change contribution and the environmental impact of INEOS's operations.

Have you taken the time to look into qatar's environmental record? Spoiler: it's not great.

Just six months ago:

https://amp.france24.com/en/sport/2...mars-qatar-s-carbon-neutral-world-cup-promise

Greenwashing!
 

JagUTD

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Can someone summarise the latest state of play? Ineos or Qataris?
Qatar waffles on about stuff completely irrelevant to the sale and played this out like it was a back and forth on Twitter.

Ineos took it seriously and apparently now have the edge. According to reports they've put forward two bids, one with Avram and Joel Glazer maintaining 20% of A Shares, the other with Ineos buying out all Glazers. The former values the club higher but also means the Glazer family ceed all control of the club. Both are effectively full take overs for all intents and purposes.

The Qatars made the mistake of thinking we, the fans, have any input on this sale and commenced a sports washing PR campaign rather than a serious bid to take over the club.
 

stevoc

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It appears Qataris put forward more investment for the club, but Ineos gave more to the Glazer family, which is all they care about
That does seem a strange thing to make a big part of your proposal. You would have thought they would have had an idea of who they're dealing with here what with Jassim being such a big United fan for 3 decades.
 

stevoc

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Greenwashing. Welcome to these types of news stories linked with Man utd. The below story is from this week alone. I hope all of you morally aligned individuals don't turn a blind eye to the climate change contribution and the environmental impact of INEOS's operations.

Indeed great point and while we're at it let's also not forget about Qatar's contributions towards climate change given they are the world's largest exporter of natural gas and have the worlds highest Co2 emissions per capita.
 

Bosws87

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It appears Qataris put forward more investment for the club, but Ineos gave more to the Glazer family, which is all they care about
Qatar are giving more to the glazers, it’s only by a breakdown of percentages of shares that appears to value them more it’s nowhere near as clean cut as people are implying.

X amount of shares at £5.50 vs X plus 20% more at shares at £5.25 the latter gets the more money even though it’s valued lower.
 

dinostar77

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If Ineos have the funds to take over and remove the debt then why wouldn’t they? At a time of rising interest rates, paying off the tens of millions of interest a year will ultimately eat into their profits and ultimately harm their asset.
Because thats not how businesses work. INEOS is a seperate entity to Utd. The same debt model we have now will continue under ratcliffe.

Its changing a blood sucking leach for another. The bid from the middle east is the only one that has said it will wipe out the debt, pay for stafoum upgrades and training ground upgrades. If you want to compete with City you fight fire with fire or state ownership with state ownership.
 

Bosws87

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Yeh that’s not right the times haven’t released any such article, they just went with the headline that Jim was pricing the shares at a higher value which is standard business practice for a smaller percentage.
 

McTerminator

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That’s exactly where we are up to and the glazers would get more overall money in their pockets from the Qatar bid.

It feels like the media have just gone for the title and headline which would cause the biggest stir and in reality it’s a lot closer.
Yeah absolutely none of that would surprise me.
 

Bosws87

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Yeah absolutely none of that would surprise me.
Yeah it’s factual but clever use of the scenario.

I could bid 10,000 for a single percent of a company which would mean I value the business higher but in reality I’m not after the other 99% so it’s a half truth.
 

Redfan94

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Is there anything to be read into the fact that the Qatari’s haven’t just gazumped all other bidders to bypass all these added rounds of bidding?

Maybe the data room numbers made for grim viewing in terms of our future earnings/expenditures.
 
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