Club Sale | It’s done!

[Solius]

I actually now think this could run for many more months.

 

[crossy1686]

I actually now think this could run for many more months.

Even with all the noise in the last couple of weeks?

 

[Rood]

Fair enough, I've looked at it again and it could be OT.

Yes it does look like the view from one of the boxes at Old Trafford and it would be a bit weird to wear a United shirt to any other stadium

There are several bits of info out there backing up the suggestion that Sheikh Jassim is a Man United fan

 

[Solius]

Even with all the noise in the last couple of weeks?

If the rumours of the family being split are true. They don't seem like the type to come to compromises.

 

[ShinjiNinja26]

I actually now think this could run for many more months.

Judging by the way it’s going so far, this is more likely than it coming to a conclusion anytime soon.

 

[Pexbo]

If the rumours of the family being split are true. They don't seem like the type to come to compromises.

To be fair those rumours are saying it would have happened weeks ago but for that. The latest from Bloomberg suggests there’s been a breakthrough and Qatar have been given positive news

 

[DomesticTadpole]

So nothing happened then? What will happen to the value of the club if we do not sign anybody and are then midtable, out CL again because they are still hanging about and won't spend?

 

[Woodzy]

But I thought it was a Qatar done deal? Guess not

That was yesterday. We operate on a daily basis at this club.

 

[ShinjiNinja26]

So nothing happened then? What will happen to the value of the club if we do not sign anybody and are then midtable, out CL again because they are still hanging about and won't spend?

Nothing will happen to the value. The value has been set by the Glazers. Current bids are already well above the clubs market value. If anyone wants to buy the club then they’ll have to dance to the Glazers tune regardless of the on pitch success of the team.

 

[cyberman]

I think updating just cause Qatar had told Bloomberg they're feeling confident was giving people the impression it was something more than it was. It's a major publication alright but it's not much in the way of news.

I dunno. Up until the Reuters report we were all told that Jim was the favourite and that Qatar bid was still lower etc. When the class A holders suing Glazers story broke it was basically laughed at on here but it’s now more or less confirmed by Bloomberg.
Nothing has come Jim’s way for a while now when all we read was Jim updates but somehow we’re being told everything is still neck and neck.
It doesn’t add up.

 

[DomesticTadpole]

Nothing will happen to the value. The value has been set by the Glazers. Current bids are already well above the clubs market value. If anyone wants to buy the club then they’ll have to dance to the Glazers tune regardless of the on pitch success of the team.

I didn't think I could hate them more than I already do.

 

[sglowrider]

If the rumours of the family being split are true. They don't seem like the type to come to compromises.

With Reuters and now Bloomberg, I bet what they reported is the tip of the iceberg but only what they can confirm with their numerous sources. I am sure there are some who have more to say but the two outlets cant confirm it 100% or with more than 2 sources.

The Bloomberg article was written by FOUR reporters and yet it basically reported that Jassim is confident (like Reuters) -- and there are issues within the family. There is probably a lot more to this story but they just won't report it because they will need multiple sources to confirm.

 

[MegadrivePerson]

Kieran Maguire thinks it’s 60/40 in favour of INEOS and done by the end of the month.

Is Kieran Maguire still confident that it's done by the end of this month?

 

[mitchmouse]

I didn't think I could hate them more than I already do.

and I'm sure they'll manage to have us hate them even more than that in the coming weeks. They are like bloody parasites

 

[KiD MoYeS]

I hope this sale has caused the Glazers many sleepless nights and the family have completely fallen apart.

 

[DOTA]

I dunno. Up until the Reuters report we were all told that Jim was the favourite and that Qatar bid was still lower etc. When the class A holders suing Glazers story broke it was basically laughed at on here but it’s now more or less confirmed by Bloomberg.
Nothing has come Jim’s way for a while now when all we read was Jim updates but somehow we’re being told everything is still neck and neck.
It doesn’t add up.

Are you also trying to imply a modspiracy to deceive us?

 

[DomesticTadpole]

and I'm sure they'll manage to have us hate them even more than that in the coming weeks. They are like bloody parasites

The atmosphere is going to be awful, which isn't great for the team, but even they would have been expecting something to happen and new signings to be in.

 

[mitchmouse]

I hope this sale has caused the Glazers many sleepless nights and the family have completely fallen apart.

they are the undead - they don't sleep at night

 

[RedDevilRoshi]

The whole thing is like an episode of Succession

 

[DomesticTadpole]

I hope this sale has caused the Glazers many sleepless nights and the family have completely fallen apart.

I'd imagine the other four siblings are getting rather irritated by it all.

 

[MegadrivePerson]

I actually now think this could run for many more months.

I agree.

I think the only way something changes now is if one of the parties publicly walks away.

 

[DomesticTadpole]

The whole thing is like an episode of Succession

You could imagine somebody making a series out of it. What would it be called?

 

[RedDevilRoshi]

You could imagine somebody making a series out of it. What would it be called?

How to ruin a club. Boring name I know but it pretty much sums up their time here.

I won’t be surprised if Netflix are lining up a docu series about this whole thing from start to finish once it’s finally over with.

 

[Idxomer]

Are you also trying to imply a modspiracy to deceive us?

It's just a bit of wumming, it happened before.

 

[Annihilate Now!]

You could imagine somebody making a series out of it. What would it be called?

Shitccesion

 

[DomesticTadpole]

How to ruin a club. Boring name I know but it pretty much sums up their time here.

I won’t be surprised if Netflix are lining up a docu series about this whole thing from start to finish once it’s finally over with.

Sabotage - How to destroy a giant of football.

 

[Blackbeard]

Glazers are running out of rope.

Sir Jim appears tapped out. He probably could come in with a bid but ultimately is a businessman, in the true sense of the word, and without more time has realised, that at short notice, he can only look to the lenders of last resort and has baulked at the options.

Therefore the Glazers have lost one of their prime levers of leverage.

Next lever, the family disharmony.

The siblings don't all agree approach.

The underlying objective for the Glazer family is cash accumulation.

The siblings have been very fortunate, they had an industrious father who was a Sir Jim type businessman. Essentially self made man who could see a deal.

The siblings are financially fortunate, but less fortunate in other ways, as we can see, step forward Av.

However, these guys are not business people in the Malcolm/Sir Jim mode they have assets and must make the most of each asset, that is their primary focus.

Jassim is also fortunate, born into a family with money, from certain county at a certain time. However his mentality is different, he has opportunities coming from every direction, he does not have to focus on flogging one or two personal assets. He can make vast amounts of money with ease.

The Glazer siblings are not so fortunate, not natural business people but smart enough to know what they have and shameless enough to exploit any opportunity to extract everything from those assets.

They will probably not sell the Tampa Bay Bucs, they live in Florida, but regulations dictate that the club has to be run according to a stricter set of regulations, however the NFL is the ultimate cash register

United was the perfect asset for them.

Relaxed regulation, for some reason in this country we seem to have the ideology that business must be open and transparent to all, otherwise the UK won't be attractive, generally regardless of the asset.

This is ideal for the asset stripper, nothing is off limits. Even in the US the bastion of apparent free trade they regulate who can buy their sports franchises and how they can be financed and run.

The Glazer family, as we know, did what they did in buying United.

Before Malcolm died the club was listed on the NYSE, he sold 10%. That 10% was used to clear much of the interest heavy loans, I believe.

However following his death, his children have used United as a cash register.

They have sold off another 20%, raising hundreds of millions which they have used for themselves.

Now that option is gone.

They have about 3% which they can sell and that is it, finished, the cash register is then, literally, empty, for them.

They could sell more, but the magic 67% needs to be retained, otherwise it would be a tactical disaster, they would lose their total control over the club.

Obviously, in losing total control they lose much of the value of their shares.

Dividends have dried up, for the time being, and these siblings need more than a few million, they have lived off hundreds of millions, in recent years, and won't be able to return to the days when Malcolm controlled the cash register.

Simply they have to sell.

Jassim's team know this and that is why they aren't necessarily handing over 6 billion, they have seen the game from the start.

The Glazers, without Sir Jim, are playing their last card, family disharmony stopping a sale, but Jassim has that card marked, but he will be frustrated with all the cat and mouse games and the general delay and posturing and the Glazer's are hoping for one last mighty effort.

That said, the Glazers made the mistake of canvassing the club as an auction.

If they had not openly declared that they were seeking strategic finance and openly invited bids they could have gone down the private sale of their shares route and then they could have separated their sale from the Class A shareholders.

However once Jassim made the offer to buy out the whole club it appears that was fatal for the Glazer's options.

Now they can't choose an offer in isolation of the other shareholders, which they could have done if it was a private sale, but they put out a club statement and it was a whole club strategy and not a private sale:
https://www.google.com/amp/s/www.ma...strategic-alternatives-to-enhance-club-growth

I suspect their advisors are having to explain themselves.

The only other way out, for the Glazers, is to fully withdraw from a full sale, however due to the empty cash register they must sell now or sell very soon, particularly in the absence of a European Super League option.

Conclusion, sale announcement in the next few days, the veil of secrecy is coming off, people have already started to squeal, they can't hold off much longer, NYSE requirements dictate they must be open, their strategies have now run their course.

Excellent post and I would have thought very close to the reality of the situation. The fact you never got a like shows which side of the fence most of the mods are on.

 

[crossy1686]

If the rumours of the family being split are true. They don't seem like the type to come to compromises.

Doesn’t really matter what they want, majority share holders can sue the acting board for not selling the club to the highest bidder as that’s what’s within the company’s best interests, like what happened when Musk made a bid for Twitter. There’s big legal implications for them to drag out a sale and lose a bidder.

 

[Spoony]

I think Kieran Macguire is probably right. A lot of people have been profiting from these news leaks. Pro Qatar rumours seem to have a positive effect and that reflects the share price. Fans are being played.

 

[Appletonred]

The transfer window and the planning for next season is of no consequence to the Glazers whatsoever, wouldn't be a surprise if they are deliberately dragging this out till the window closes before selling the club so as to not expend anymore finance.

 

[Giggsyking]

You could imagine somebody making a series out of it. What would it be called?

Leeches.

 

[KiD MoYeS]

I bet Joel has six tits like a dog and the rest of the runt Glazers suckle off him for energy.

 

[cyberman]

Are you also trying to imply a modspiracy to deceive us?

Not really but there’s are a group of posters who routinely pretend that nothing has really changed while dismissing every (rare) bit of news that we get.
It’s constant I’m sure Glazers knew about class A shares threats of litigation, they’re not stupid, anybody can create a 92 company it means nothing, Rio is just a mouth, nobody backed up Reuters report, there’s conflicting reports of Qatar negotiating exclusivity ( there wasn’t) Reuters went early, nobody else backed them up and now pretending this isn’t that.
There’s two groups bedded in, being a mod or not doesn’t take away the emotional weight in a fan that this brings. It’s the second time in 2 weeks that the thread title downplayed a major financial news outlet breaking news based on nothing. In fact the actual breaking news only seem to be thread updated for an hour, if that.
I’m sure that’s not a coincidence.
Edit, in fact reports from Nice friendly outlets in France have said Jim isn’t confident about his bid anymore but those are glossed over as well.
Just look at the thread title now

 

[blackhawk747]

I am not a pro Glazers, but from a business POV, the rumored final bid from SJ is £ 5B which equals to $6.3B is not a tempting offer. Washington commmanders, a NFL franchise i hadnt heard of before, was sold for $6B in early June.

 

[Gums]

When Saudi Arabia offer us hundreds of millions (or a billion) to join their Super League in a few years alongside already signed up clubs like Barcelona and Juventus, do you think either of our potential owners will turn down the offer?

 

[DomesticTadpole]

I am not a pro Glazers, but from a business POV, the rumored final bid from SJ is £ 5B which equals to $6.3B is not a tempting offer. Washington commmanders, a NFL franchise i hadnt heard of before, was sold for $6B in early June.

Then I would say they do not understand how finances in football and American Sports work. American Sports you can tank and still makes loads of money. Football you need to constantly invest money to make money.

 

[ShinjiNinja26]

Then I would say they do not understand how finances in football and American Sports work. American Sports you can tank and still makes loads of money. Football you need to constantly invest money to make money.

Yep. Absolutely pointless even trying to compare selling U.S sports teams to football clubs.

 

[grahamo]

When Saudi Arabia offer us hundreds of millions (or a billion) to join their Super League in a few years alongside already signed up clubs like Barcelona and Juventus, do you think either of our potential owners will turn down the offer?

I think the Glazers would be a lot quicker to sign up for it

 

[DOTA]

Not really but there’s are a group of posters who routinely pretend that nothing has really changed while dismissing every (rare) bit of news that we get.
It’s constant I’m sure Glazers knew about class A shares threats of litigation, they’re not stupid, anybody can create a 92 company it means nothing, Rio is just a mouth, nobody backed up Reuters report, there’s conflicting reports of Qatar negotiating exclusivity ( there wasn’t) Reuters went early, nobody else backed them up and now pretending this isn’t that.
There’s two groups bedded in, being a mod or not doesn’t take away the emotional weight in a fan that this brings. It’s the second time in 2 weeks that the thread title downplayed a major financial news outlet breaking news based on nothing. In fact the actual breaking news only seem to be thread updated for an hour, if that.
I’m sure that’s not a coincidence.
Edit, in fact reports from Nice friendly outlets in France have said Jim isn’t confident about his bid anymore but those are glossed over as well.
Just look at the thread title now

I see.

I do feel this post is probably one more heavily affected by 'the emotional weight in a fan' than the moderators choice of thread titles.

 

[Pexbo]

I think Kieran Macguire is probably right. A lot of people have been profiting from these news leaks. Pro Qatar rumours seem to have a positive effect and that reflects the share price. Fans are being played.

You think serious business journalists from Reuters and Bloomberg are putting their credibility and reputations on the line for this?

Of all the millions of stocks they report on daily they’ve decided to play games with this one?