Club Sale | It’s done!

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Judas

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I thought all along the Qatar bid was a state bid, because it just seemed logical, but honestly, its hard to believe it is with the absolutely laughable way they've gone about it? If it was the state, they just come in and smash it don't they, none of this dragging their feet shite. So basically no matter who wins, we're in for a shit show :lol: :(
 

Rooney1987

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United is the most expensive club in the world mate, rivals would cost quite a bit less
Well people keep saying watch him buy Liverpool, their valuation isn’t far from us and owners don’t want to sell. They also need a new stadium and have dept. Bar a few hundred mil not sure why people are worried he’d buy scousers when it’s a similar situation.
 

AlPistacho

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This is a bit of a conspiracy theory, but I think it's actually about property for Jassim.

There's an article here about how McDonald's is not really a fast food company, but instead it's a real estate company: https://www.wallstreetsurvivor.com/mcdonalds-beyond-the-burger/

Basically, McDonald's buy up land, watch it appreciate in value, and then sell franchising rights so that people can afford to pay them rent. It's not obvious at first blush because we associate Maccie D's with burgers rather than acres. But it's supposedly how they really make their money.

I think Jassim is doing something similar with Old Trafford, especially if you look at how other billionaires (not least from his own country) have invested in properties in London in recent years (I think his father's former company part own the Gherkin, for example). The football club is the thin end of the wedge. The land is where he'll make his profit.

Old Trafford comes with a load of relatively undeveloped real estate around it, while only being a stone's throw from Media City and Salford Quays. There's a huge amount of untapped potential there. Jassim could jump the queue on that potential by building up the area right next door. If Manchester continues it's upward trajectory, Salford Quays could become like north's version of Canary Wharf (albeit in a different industry) and Old Trafford would be its Isle of Dogs.

Investment there would be good for the city, if nothing else. And even if Jassim decides to sell the club for minimal profit down the line, he could probably do so while keeping the surrounding land for himself and still coming out on top. I think this is why he's been so hesitant not to over-bid. Because he's as concerned about his profit margins as anyone else. Though I think unlike the Glazers, he sees a successful Manchester United as good thing for his bottom line rather than incidental.
I mentioned something similar about how Jassim could be an individual/family buying United. With the state benefiting and offering the investment for the surrounding area
 

Nori-

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That "IIITTSSS TTTTIIIIMMMEEEE" message I see every time I open this thread, is bad luck I believe. We were way ahead of ourselves.

If it is removed, I feel like we will have broken this curse and Sheikh Jassim gets the keys on Friday.

Worth a try?
 

croadyman

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I think if they fail to accept the Qatari bid by Friday then it's Ratcliffe 100%. I don't think the Glazers have any intentions of remaining fully in control. The value of the club would tank and no investor will be in a rush to negotiate after this circus.
That bid was face saving exercise without doubt
 

Steve Bruce

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I'd rather my team be bad than be owned by a state.
Could be a reality.

At the end of the day, we're powerless to decide who can take over. If Qatar wins the bidding process then it's up to everyone to decide if they continue their affiliation with the club or not.

I support the team, not the owners so I'll personally continue to support United regardless of the ownership but that's my choice.
 

Pexbo

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I reckon this could end with Glazers actually making a counter offer to the Qataris which is probably what they are hoping for. Name your price and we will pay it but not this £6bn bollocks.
 

GoldanoGraham

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Pretty sure Qatar have it now based on this - if the Glazers continue to hold out and SJ pulls their bid on Friday then there's no competition for Ratcliffe and no push for him to increase his bid in anyway. In fact, he could even lowball based on having no competition knowing that its the Glazers only option remaining, and being businessmen the Glazers will be painfully aware of that.
Maybe the Glazers have/had no intention to sell......

Maybe just an exercise to get credible bids to base the valuation of the club on so that they can go to finance/investment funds/banks for further loans for the redevelopment of the stadium/training/team investment and say - look - you said we were worth $3.5b last year - we now have 2 bids valuing us at over $6b now and use that as the basis for borrowing?

Why do you think Avram has been so visible at Wembley in recent months?

Probably been very quiet while they work out what they can leverage to redevelop the stadium? The big announcement - we are not selling but this is what we are investing in? Redeveloped stadium, revamped Carrington and big slug of cash for ETH.....

The debt gets bigger but the reveneus will significantly increase down the line.

Maybe its just all be a big ruse.....nothing would surprise me with them
 

Nick7

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One thing I will respect about Jassim today truth be told is the take it or leave it Friday hard deadline.

That actually needed doing as the leeches seemingly are content derailing next season by not selling in time for anything to change this summer.

Still don’t know who he is but at least he has some sense. I can’t see his bid winning however but we’ll see.
To be fair, this is the second Jassim bid since the Glazer set deadline.
 

Castia

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Yeah I am convinced it's the unknown thing that's also putting off Raine Group from wanting to deal with Jassim. Like others have said if this was a state backed bid why haven't they just blown Ratcliffe out of water yet nevermind just matched offer.

They have offered almost twice as much as Jim though and that doesn't take into account the further promise of funding into the club

They aren't going to offer the Glazers almost 6B when the club needs probably a further 2B in investment that's 8B for a club who have frankly been a complete mess for the past 10 years.

Jim will get his way because he's willing to get into bed with the Glazers. Call it smart or whatever but it's bad news for the club.
 

L1nk

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Well if they were intent on staying all along then shame on SJR for giving them a route to do so.

SJR has not bothered to lay out a plan for how he would run the club - can we even be sure that the Glazers won't be part of decision making processes?? Can he even guarantee that the Glazers will eventually leave? So much uncertainty and I won't forgive him for getting into bed with the feckers.
But.. that they wanted to stay all along means that they were unlikely to have sold to Qatar then and nothing will have changed? I have no doubt they'd have sold to Qatar if they had actually paid up the 6billion to which they have reportedly asked for since the beginning of this process, but not once through multiple bids have they come anywhere close, i'm not saying what they are asking for isn't excessive, because it is, but you'd think Qatar/SJ is rich enough to pay what is essentially 800 million or so more.

It's already been reported he would have the controlling stake and their shares would have nothing but monetary value and no controlling shares. Until that officially changes from Ratcliffe or the Glazers that is what we have to go on. He's kept quiet throughout the process because, as again, it's been a keep quiet policy in order to not "upset the Glazers" we know as well as anyone how fragile their egos are. Don't get me wrong, I too would love to hear more detail on what his plans are for the club, because Qatar have definitely surpassed him in that regard, but I cannot be mad at anyone else but Qatar for fielding such weak ass bids whilst being nothing but talk. They have the financial power, but they aren't backing it up with their actions.
 

Infra-red

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Oh yeah hilarious watching us drift into mediocrity because Ratcliffe won't invest properly
I don't think United will be worse under Ineos than the Glazers. An Ineos-owned United might not be in a position to spend billions on new players to overthrow state-backed City, but there's no particular reason why we'd decline and drift into mediocrity, either. We'll probably stay pretty much where we have been for the last 10 years - a team that finishes somewhere between 2nd and 5th most seasons and wins an occasional trophy. It's not where we were under Fergie, but it is still likely to be better than the sort of experience 95% of football fans generally have following their team.
 

Andycoleno9

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The amount of bullshit spouted on here by the pro-Qatari gang is crazy, but probably less than I expected in a scenario where it looks like Ratcliffe has won the race.

Funny, nevertheless.
Oh yes, it is so funny to have Glazers and failed owner of TWO clubs running our club together. Top 4 will be our main goal from now on.
It is also funny how rival fans are delighted with this outcome.
 

Castia

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Won't be the case



Won't be the case

Really?

What gives you this confidence? his handling of Nice? his relegated club in Switzerland?

Nice's last summer business was Kasper Schmeichel, Ross Barkley and Aaron Ramsey :lol:

Let the good times roll!!
 

MUFC OK

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Shame on SJR for coming up with a deal that gives him majority control of the club? Shame on him for being smart enough to win the bid?

Literally nothing (apart from business sense) has stopped Qatar from making an offer where they take control now and get full ownership in the future. Hell, you have more cash on hand in the short term to invest in what you need if anything. It's an entirely favourable outcome for both parties. Ignore personal vendettas like "feck the Glazers" and look at things like an intelligent person. They won't be in control. Someone else will make the decisions. That new owner has more cash now to make differences short term, that new owner can still negotiate with them to get them out fully eventually so they then have full control. When talking about a multi billion £ deal, it is incredibly dumb to go at it the way Qatar has, and shows nothing but incompetence to achieve their goal. If the target is to take over the club, then you get your foot in the door with the control to make decisions and you gradually work on getting full ownership eventually if that's what it takes.
Not here for condescending garbage like this. It's not "Feck the Glazers" - its Glazers OUT. That message has been clear for aeons.

You must be privy to the conversations between SJR and the Glazers to be sure that they wont have a least some say in decision making, I fully suspect that they will. After all they will want their shares to increase in value so only logical they will want to be involved. You said it yourself, the owner will still have to negotiate their exit in the future, with an option assumedly being that they could remain indefinitely.

Apologies for not being in favour of that arrangement.
 

Ronaldo's Love Child

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Honestly think Jassim will win this.

He's got deeper pockets but likemanymega rich people they want to feel they're getting a "deal" when they buy something.

Paying the asking price is almost an insult to their manhood.

Having said that, if it appears someone else may have put in a counter bid which is more attractive to the Glazers then losing out on a once in a generation opportunity would be an even greater insult to Jassim's ego.


Jassim clearly wants Utd and I suspect the Glazers believe if push comes to shove he will dig as deep as he has to to secure the purchase. This is probably why it's dragging on .....
 

bosnian_red

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FFS, he said he will challenge PSG for the title, why are people just ignoring that? Not only he failed to make Nice challenge PSG, he made them worse. They were better before him.
So Ineos took over Nice in August 2019, start of 19/20. Right at the start of COVID which throws a wrench into a lot of things. In the 10 years prior to his takeover, Nice were (sorted from oldest to most recent):
  1. 15th
  2. 17th
  3. 13th
  4. 4th
  5. 17th
  6. 11th
  7. 4th
  8. 3rd
  9. 8th
  10. 7th
And then the years since takeover:
  1. 5th
  2. 9th
  3. 5th
  4. 9th
Is that them getting worse? Looks roughly the same as they've always been and just variation because of managers/random individual talent. Not to mention that 4 years of a non sugar daddy ownership plan (especially during COVID years) is nowhere near enough time to have a lasting impact.
 

Giggsyking

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Isn't it the Glazers "part" that is the expensive one? Like all the B-shares?
If SJR bid is ~ $ 3BN for 50,1% isn´t the last 49,9% going to be cheaper to buy (A-shares) = total value of below $ 6BN?
If SJ bid is ~ $ 6BN for 100%, then the Glazers get premium value for their 71% (or what the number is) since their % is more valued then the remaining A shares?
They own 69.5% class B shares and 4.3% class A shares. So they benefit more from selling now with selling their class A shares too.
 

ForeverRed1

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Nice was a mid table club with mid table finances and wages and have remained so. Not every owner takes over with the goal of transforming into an elite club. 99% don't. It's not a financially smart thing because you lose a shit ton of money doing that with a club not built for it. United is a club with one of the highest transfer spends year on year and one of the highest revenues in the world and one of the highest wages. All we need is to play to our actual spending level. We don't need ginormous investment to transform us from a mid table club to a top club with big revenues. We already are that. It's a completely different comparison.

People look at Brighton and how well they are run - they are in huge debts and have a Brighton fan who is funding that debt. If he ever gets bored, they are fecked. If Abu Dhabi gets bored, City are fecked. Nobody should want to be run in a way that they get fecked over if this random billionaire decides to feck off.
The difference is we actually have money and our own spending money. We can fund much of our own business. What we need is an owner who can pay off the debt and invest in the structure of the club. Also an owner who doesn’t take dividends out of the club for their own personal gain. I’d actually go as far to say that if jassim came in and made us debt free, spent money on the club were one of the few that would actually be better off for it. We’re not city. We’re not Wigan that won the lottery ticket. We can actually be very self sufficient. Once the club is bought up to where it should be, the club will fund itself. we have that power. Jassim will know that too. He will need to spend big to begin with, afterwards it will self run.

what we don’t want, is the people who have ruined us to be still anywhere near this club. They need to leave and leave now.They’re not wanted in any capacity. Not welcome.
 

Zebs

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That "IIITTSSS TTTTIIIIMMMEEEE" message I see every time I open this thread, is bad luck I believe. We were way ahead of ourselves.

If it is removed, I feel like we will have broken this curse and Sheikh Jassim gets the keys on Friday.

Worth a try?
Do you read the thread from Page 1 every time you open it?
 

bosskeano

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seems like a simple reality here...

Glazers put out notice they were willing to sell the club and asked for a crazy number in order to sell the club outright.

In reality they hire a firm to do the work looking to find investors who would be willing to put up a significant injection of cash that would allow them to remain on the board along with minority stake in the club for continued wealth moving forward.

the Sheik has basically put that full price to the test, no frustrated has given them a timeline.

so either shit or get off the pot...you take the complete buyout OR you are going to be stuck renegotiating with Sir Jimbo who will then hold the upper hand in the dealings for how much investment and more importantly how much stake in the club he's willing to give up
 

Amarsdd

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One thing I will respect about Jassim today truth be told is the take it or leave it Friday hard deadline.
ummm his last two bids were also "final take it or leave it" bids ........
 

L1nk

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They have offered almost twice as much as Jim though and that doesn't take into account the further promise of funding into the club

They aren't going to offer the Glazers almost 6B when the club needs probably a further 2B in investment that's 8B for a club who have frankly been a complete mess for the past 10 years.

Jim will get his way because he's willing to get into bed with the Glazers. Call it smart or whatever but it's bad news for the club.
No they haven't? What, where did you get this from, classic example of what i've been saying in this thread people are just making stuff up to get mad about. SJ's new reported bid is around 5.2 million pounds with another 1 billion pounds pledged on top for the club itself (not to the Glazers) and this is for all of the Glazers shares. Ratcliffe/INEOS is reportedly around 5.5 billion for only the controlling stake, whilst he buys them out of the rest of his shares in due course (likely to be 2/3 years), meaning that the Glazers will get a good wedge now and then more money a few years down the line when they eventually leave for good.

Are you honestly saying Ratcliffe is only offering around 2.5 billion? That's just not true is it come on
 

AlPistacho

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The pledged amount is now in addition to what the Glazers get. If I’m not mistaken before it was $X billion of which $1b was pledged to things the Glazers don’t care about. So should make a bit difference
 

croadyman

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I think if they fail to accept the Qatari bid by Friday then it's Ratcliffe 100%. I don't think the Glazers have any intentions of remaining fully in control. The value of the club would tank and no investor will be in a rush to negotiate after this circus.
Pretty certain they had no intention of entertaining the 4th or 5th bids. That explains why they never heard back about last one
 

Adisa

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Except he isn’t. Ineos bid is more attractive because the Glazers keep some shares (which offer future upside value) money today is not higher in Ineos bid to Glazers.

The valuations of the clubs are practically similar and SJ has offered Glazers a separate pot of money in the bid.
Jim Ratcliffe has placed a bid that values the club shares at £5bn+. Jassim has placed a bid that gives the club an EV of £5bn+.
One bid is for the controlling stake the second is for 100%. It’s a fact that Ratcliffe’s bid will give the Glazers more money for each share that they own. That’s all they care about.
There is a difference between Enterprise Value and Equity Value.
 
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Castia

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No they haven't? What, where did you get this from, classic example of what i've been saying in this thread people are just making stuff up to get mad about. SJ's new reported bid is around 5.2 million pounds with another 1 billion pounds pledged on top for the club itself (not to the Glazers) and this is for all of the Glazers shares. Ratcliffe/INEOS is reportedly around 5.5 billion for only the controlling stake, whilst he buys them out of the rest of his shares in due course (likely to be 2/3 years), meaning that the Glazers will get a good wedge now and then more money a few years down the line when they eventually leave for good.

Are you honestly saying Ratcliffe is only offering around 2.5 billion? That's just not true is it come on
What the hell are you on about? you're merging multiple Jim offers together and trying to tell me im making stuff up :lol:

He's offering around 3B go read again pal
 

Giggsyking

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So Ineos took over Nice in August 2019, start of 19/20. Right at the start of COVID which throws a wrench into a lot of things. In the 10 years prior to his takeover, Nice were (sorted from oldest to most recent):
  1. 15th
  2. 17th
  3. 13th
  4. 4th
  5. 17th
  6. 11th
  7. 4th
  8. 3rd
  9. 8th
  10. 7th
And then the years since takeover:
  1. 5th
  2. 9th
  3. 5th
  4. 9th
Is that them getting worse? Looks roughly the same as they've always been and just variation because of managers/random individual talent. Not to mention that 4 years of a non sugar daddy ownership plan (especially during COVID years) is nowhere near enough time to have a lasting impact.
4 years before his arrival they finished twice in top4. Not once he managed that, not only that, he made them worse, took them to 9th twice. They were on better terms before he came. Imagine a new owner coming, promising to improve the club, but takes it backwards. Stop trying to make his Nice ownership any positive.
 

Rojofiam

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Oh yes, it is so funny to have Glazers and failed owner of TWO clubs running our club together. Top 4 will be our main goal from now on.
It is also funny how rival fans are delighted with this outcome.
Glazers won't be running the club.

Don't give a toss about rival fans' opinion.
 

Nick7

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If you believe the Qatari PR, Jassim’s bid isn’t state backed. So why do people think we will have unlimited money to invest in the club in that case?
 

Woziak

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Yeah but they will make more in total with the put and call option on the Ratcliffe offer.

They will get a big payout now for 51%, then more in two years if/when the put all call option is exercised for the other 18%. I'd be surprised if they don't take that. The most $$$ is all that matters to them.
This is not true, they also own 4.3% A shares which will need to be purchased as well this bid of £5.2bn is for controlling shares of 69% and future merchandising and commercial broadcast contracts, this bid is to the Glazers to buy their controlling B shares, SJ group are paying $35 per share which is $3.95bn plus they are paying a premium of $2.5bn to the Glazers to compensate them for future profits which would arise from commercial and broadcasting contracts. I have included Forbes link for people to understand that full 100% valuation now is based on a Forbes valuation plus a premium required by the Glazers. The $6.5bn would be minus the current club debt of $1bn so the glazers would get from what I understand $5.5bn now between the 6 siblings right now. They would also get a further $200m from selling their A shares in the next 6-8 weeks at $30 per share.

SJR offers £2.7bn ($3.4bn) for 51% now and future payments for merchandising and broadcasting with a put and call as the club starts to grow offering huge contractual agreements in year 2, year 3 and year 4 until all 69.5% voting shares are bought at a final price of £4.4bn($5.4) this could go up but not down dependent on share prices, no debt would be paid and only a fraction compensated for merchandise and broadcasting as they still remain on the board of directors.


The bids were close before with SJR bid marginally better but both have pros and cons. I now see SJ bid as better but not significantly as Joel and Avram don’t really want to sell all their shares. It’s gone from 60/40 in SJR favour to a genuine 50/50 now and again the siblings will be fighting internally about which bid?

https://www.forbes.com/teams/manchester-united/?sh=4c83d74413f9
 
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