Club Sale | It’s done!

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pocco said:
Why wouldn't it make sense? I can't remember what shares each Glazer holds so can't do the maths on what it would mean in terms of their retained shares.
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Joel is the biggest shareholder with nearly 20%, Avram has around 14% of the B shares. Taking into account 60% is of the whole club, like the 51%, that would leave J&A with less than 10% and if split along the lines of their current holdings, Avram is looking at 3 to 4%. Doesn't seem worth the hassle.

It does however solve a few concerns some have had in terms of the two Glazer hold outs. They get paid now, and get a small premium down the line. But it is a small premium and if that's the direction they go in, they may as well just take a full buy out now and save the hassle. 18% is one thing, it's around a billion dollars plus whatever premium they agree on. Halving that and we get into the "just pay it" territory
 
Has anyone wondered wether Raine get paid commission on the alleged 60% INOES are buying and not the remaining 9% which they may or may not buy in 3/4 years time. In which case it would be in their interest to push the Qatar bid for the full 69% of glazer shares.
 
VP89 said:
No, though I could be wrong. The offer made by SJR is 51% (at least the offer that is more tempting to the Glazers, I think he had another iteration on the table too).
That's where the reports of the bid being of similar value comes into it.

The call options are rights to buy at x price later down the line, but they arent an obligation. If Sir Jim wants he can pass on that when the time comes and keep his 51%.

At least this is how I would understand it.
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I don’t even think the multiple windows story is even true anyway. Recent reports have it as phasing Glazers out though a forced sale.
The premium has to be included in the current bid or I’m sure there’s all sorts of financial regulations it falls foul of. If not and we have Avram / Joel negotiating after the sale then they’re the biggest morons in the history of business.
It’s an agreement to buy B shares of a company and if it’s agreed during or before this sale then it has to be disclosed surely? I can’t see why it would be considered separate from his takeover final number.
If they’re selling shares with an agreement of a fixed premium then 100 percent it’s included in his offer number. There’s no reason, or even reporting, if this premium number being on top of the bid today
 
Cassidy said:
Rumour has it a few of the Glazers owe half a billion on something unrelated to United which needs to be serviced this year

Also as you have pointed out especially in this current financial climate. They are not in a position to further borrow against the club to fund its activities
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If you remember quite a few years back, there were some loans, PIF or something along those lines which were due and all they did was refinance them.
 
JagUTD said:
If you remember quite a few years back, there were some loans, PIF or something along those lines which were due and all they did was refinance them.
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But that’s not really notable. At the time those loans had an eye watering interest rate (something like 20%) and an expiry date where they would need to be paid in full and the club's assets were listed as collateral.

They lucked out really because interest rates fell through the floor and debt became cheap so they were able to take out a more sustainable loan at around 4%.
 
#07 said:
Given how messy and disordered the Glazers' running off United has been, this feels very much to type.
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This has been said a few times in this thread. It is funny how reminiscent it is of one of United's classic transfer sagas, with endless delays and indecision. Probably just coincidence, but given the same decision makers (the Glazer family) are ultimately driving the process, perhaps not.
 
Pexbo said:
But that’s not really notable. At the time those loans had an eye watering interest rate (something like 20%) and an expdate where they would need to be paid in full and the club's assets were listed as collateral.

They lucked out really because interest rates fell through the floor and debt became cheap so they were able to take out a more sustainable loan at around 4%.
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I'm just reminding us all that unfortunately, of necessary, they can and will just refinance. Kick the can down the road until next time. If they can do it with the billionaire equivalent of a Wonga loan, half a billion on reasonable terms is nothing.
 
The crazy thing for me is that I still don't have a clue about who is actually best for United.
 
Trophy Room said:
It’s the era of Man City isn’t it so we’ll def get SJR.
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Is it? By 10am they'd been relegated from the top story on BBC news. It all just seems empty. Will they be talking about it as if it happened yesterday in 25 years time? Doubtful.
 
JagUTD said:
Joel is the biggest shareholder with nearly 20%, Avram has around 14% of the B shares. Taking into account 60% is of the whole club, like the 51%, that would leave J&A with less than 10% and if split along the lines of their current holdings, Avram is looking at 3 to 4%. Doesn't seem worth the hassle.

It does however solve a few concerns some have had in terms of the two Glazer hold outs. They get paid now, and get a small premium down the line. But it is a small premium and if that's the direction they go in, they may as well just take a full buy out now and save the hassle. 18% is one thing, it's around a billion dollars plus whatever premium they agree on. Halving that and we get into the "just pay it" territory
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Fair enough. Don't you think it would be strange though to make an offer for 69% and 51%, then hold many discussions with the Glazers and come with a 60% offer? What would lead him to do that if not a result of those discussions? I still feel like SJR will go higher if he has to. He's led the way throughout so he's clearly willing to pay top dollar.
 
JPRouve said:
The crazy thing for me is that I still don't have a clue about who is actually best for United.
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We all have our preferences but the correct answer will always be 'not the Glazers calling the shots'
 
pocco said:
Fair enough. Don't you think it would be strange though to make an offer for 69% and 51%, then hold many discussions with the Glazers and come with a 60% offer? What would lead him to do that if not a result of those discussions? I still feel like SJR will go higher if he has to. He's led the way throughout so he's clearly willing to pay top dollar.
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I don't think there's been an offer for 60% simply because it doesn't make sense from any perspective. If SJR already have an offer for 51% and for 69%, what is the logic of a 3rd, seemingly meet me half way offer? With all the other offers, we can at least see the benefit to one party or the other, but with this... Who gains from it?

My guess is it's the media muddling up the two bids and splitting the difference.
 
Trophy Room said:
It’s the era of Man City isn’t it so we’ll def get SJR.
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We’re 14 points off them in a season where they had Haaland and we had Weghorst.

A season with a WC crammed in the middle which benefitted City hugely.

A season where we beat them and one close game away from beating them in a final and wrecking their treble.

With a proper owner and a season of good decisions and investments, this won’t be their ‘era’, trust me.
 
pocco said:
Either way, we'll have to ride out the City 'era'. We're miles off them.
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More like Pep-Era.. City have no Era,.Once Pep leaves it will be back to spending billions to scrap for a title here and there... There is a reason why they keep bringing Noel Gallagher as their mascot spokesperson in front of the cameras.. They hardly have any player worth mentioning prior to all the cheating.... A nobody club...Not sure if you all saw the CL Final support fan group in Istanbul.. there were fewer people supporting City for a CL final than there were for my Nan's birthday..
 
How the hell did we get in this state in the first place! surely SAF wasnt comfortable with the way the glazers bought the club.
 
@pocco I do also believe that if necessary, Ratcliffe has room to increase his bids. That he hasn't is the most telling part of all this.

Someone as experienced as Jim Ratcliffe also wouldn't sit back and allow a rival to bid away freely without having something to say about it. Whether that by making a new bid himself or through legal action as ultimately, he has abided by the guidelines set out and the other party have not.
 
JPRouve said:
The crazy thing for me is that I still don't have a clue about who is actually best for United.
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Ultimately no one will until some time has passed and we actually see how things have gone. All we have at this point are our own opinions on who we think would be best for United, but none of us actually have a clue really.
 
JagUTD said:
@pocco I do also believe that if necessary, Ratcliffe has room to increase his bids. That he hasn't is the most telling part of all this.

Someone as experienced as Jim Ratcliffe also wouldn't sit back and allow a rival to bid away freely without having something to say about it. Whether that by making a new bid himself or through legal action as ultimately, he has abided by the guidelines set out and the other party have not.
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Isn’t that exactly what happened when Ratcliffe tried to buy Chelsea just a year ago…?
 
iamking said:
More like Pep-Era.. City have no Era,.Once Pep leaves it will be back to spending billions to scrap for a title here and there... There is a reason why they keep bringing Noel Gallagher as their mascot spokesperson in front of the cameras.. They hardly have any player worth mentioning prior to all the cheating.... A nobody club...Not sure if you all saw the CL Final support fan group in Istanbul.. there were fewer people supporting City for a CL final than there were for my Nan's birthday..
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They won titles before pep, my thinking is someone very good was given a clean sheet and a lot of money to build the ultimate club from scratch. All the stars aligned and Haaland was the icing on the cake.
 
Rhyme Animal said:
We’re 14 points off them in a season where they had Haaland and we had Weghorst.

A season with a WC crammed in the middle which benefitted City hugely.

A season where we beat them and one close game away from beating them in a final and wrecking their treble.

With a proper owner and a season of good decisions and investments, this won’t be their ‘era’, trust me.
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I might sound insane but had a few things gone differently this season. A dodgy red card not been given here or being knocked out of a cup competition there, 14 points would have been significantly less.
 
Trophy Room said:
It’s the era of Man City isn’t it so we’ll def get SJR.
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Obviously doesn't necessarily mean much but With Jim and his two partners at Ineos we'd have the 2nd richest owners in the league in terms of net worth. Only Newcastle would have more.

Obviously City's is unknown really so at worst we'd have the third richest owner on paper.

Now maybe he'd still be a shit owner and not invest but we won't know that until we see it.

And as for Jassim his wealth and the Nine two foundation is completely unknown considering Jassim on his own is supposedly only worth about 1 billion.

So it depends who else is involved really on his side
 
Rhyme Animal said:
They win the bid and then on live TV they present Jassim, who removes his mask to reveal that it’s been Phil Neville all along!

‘And I would’ve gotten away with it too if it wasn’t for you meddling fans!’
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And Sir Jim even looks like Shaggy
 
JagUTD said:
@pocco I do also believe that if necessary, Ratcliffe has room to increase his bids. That he hasn't is the most telling part of all this.

Someone as experienced as Jim Ratcliffe also wouldn't sit back and allow a rival to bid away freely without having something to say about it. Whether that by making a new bid himself or through legal action as ultimately, he has abided by the guidelines set out and the other party have not.
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Maybe he has figured out he is being used by the glazers to rinse more from Qatar and is now refusing to play their game and help get them more money.
 
iamking said:
More like Pep-Era.. City have no Era,.Once Pep leaves it will be back to spending billions to scrap for a title here and there... There is a reason why they keep bringing Noel Gallagher as their mascot spokesperson in front of the cameras.. They hardly have any player worth mentioning prior to all the cheating.... A nobody club...Not sure if you all saw the CL Final support fan group in Istanbul.. there were fewer people supporting City for a CL final than there were for my Nan's birthday..
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City have gotten over the line v Liverpool and Arsenal by having stronger squads. That’s the main difference
If we are taken over by Qatar then us and Newcastle will challenge that very soon, theyre not uncatchable by any means. They’re just rotating in Silva, Mharez, Alvarez, Foden, Philips etc. no biggie.
Gundogan is sensational and this is the first time in 3 seasons he broke 28 league starts. It’s not as if he doesn’t start in 10 games a season because he’s injured, Pep rotates him in so he’s fresh for Gundogan time of the run on.
Who else can do that?
 
With Qatar we might finally get reclining seats and cupholders at New Trafford
 
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