Club Sale | It’s done!

[glazed]

The trouble is that the Glazers/Raine Group are likely thinking along these same lines and waiting for Qatar to blink.

Whereas the Qataris have obviously already made their rather public "final offer" and can't be seen to blink.

It's stalemate right now. But if Joel and Avram want to sell to SJR then their strategy is to provoke a Qatari deadline which they then allow to pass. So Qatar doesn't do that. They wait for the other four Glazers to force their hand.

The other four Glazers might have to vote J&A down to get the deal through and then sell their shares direct to the Qataris as Class B. But a clause written into the club's stock means the Class B shares can only be owned by members of the Glazer family. That will need to change first so it depends if J&A can block it. Unfortunately they need to change that clause anyway to sell shares to SJR so the scope for double cross is large if they do - especially as it's not necessarily their own shares they want to sell to him but their siblings. It's not even clear the clause can be changed which would block INEOS altogether.

https://theathletic.com/4463364/2023/04/28/manchester-united-sale-news-glazers/

Fundamentally if there is no sale at all then the value of the shares tanks completely and the shareholding hedgefunds probabaly sue the Glazers anyway for acting against their interests. Plus the club has no viable business plan with them owning it. Plus they are all probably heavily in debt and need to sell in the new high interest rate world. The club certainly is. The only option that is not totally dysfunctional is a sale to the Qataris so the greed brothers will just have to be carrot and sticked into reality. Hard to put a timescale on that.

 

[Appletonred]

Stalling over a multi billion pound offer that exceeds the clubs overall valuation is greed incomprehensible, astonishing, off the scale, you name it!

 

[edgecutter]

Stalling over a multi billion pound offer that exceeds the clubs overall valuation is greed incomprehensible, astonishing, off the scale, you name it!

What do you expect from owners that have quite literally beld the club dry. They wouldn't sell if they could continue doing what they have been doing over the last number of years.

 

[Tarrou]

Stalling over a multi billion pound offer that exceeds the clubs overall valuation is greed incomprehensible, astonishing, off the scale, you name it!

I hate the Glazers as much anyone but it’s not even greedy. They have an asset and want the best price, isn’t that just… completely normal?

if I was selling and I thought I could get an extra 10, 20, 50 million for my share would I give a flying feck how long it took? Absolutely not, and I wouldn’t give a feck about the transfer window either

 

[edgecutter]

I thought INEOs bid was dead?

Why has the deal with Qataris not been done yet?

Could the Cafs supposed intel be wrong yet again?

I think it's a forgone conclusion. The Glazers cannot continue with the Ineos bid due to shareholders possibly suing them for not acting in their best interest. I wouldn't be surprised if the deal has already been struck and its all about getting finances ready.

 

[horsechoker]

Imagine the news breaks and nobody can read the tweets because the have passed their daily limit on twitter

 

[mu4c_20le]

Imagine the news breaks and nobody can read the tweets because the have passed their daily limit on twitter

I'd be very surprised if @Berbaclass doesn't already have twitter blue

 

[Tarrou]

I thought INEOs bid was dead?

Why has the deal with Qataris not been done yet?

Could the Cafs supposed intel be wrong yet again?

my theory is it’s informally agreed and whilst they are sorting out a few of the finer details the club are making the most of this period and trying to agree a few deals on the proviso that the budget is tight

as soon as it’s announced we’re owned by Qatar the prices are going to sky rocket

 

[Pexbo]

my theory is it’s informally agreed and whilst they are sorting out a few of the finer details the club are making the most of this period and trying to agree a few deals on the proviso that the budget is tight

as soon as it’s announced we’re owned by Qatar the prices are going to sky rocket

I’m pretty sure that would break NYSE rules.

 

[Tarrou]

I’m pretty sure that would break NYSE rules.

nah, it wouldn't

 

[stevoc]

The trouble is that the Glazers/Raine Group are likely thinking along these same lines and waiting for Qatar to blink.

Whereas the Qataris have obviously already made their rather public "final offer" and can't be seen to blink.

Probably one of those rare instances where fans can have an influence - however minor - through pressurising the Glazers to speed up the sale. The value of their asset won't increase if next season's atmosphere becomes toxic and the team's performance suffers.

Well not again anyway. They've made about 3 final offers at this stage.

 

[Cantonagotmehere]

I hate the Glazers as much anyone but it’s not even greedy. They have an asset and want the best price, isn’t that just… completely normal?

if I was selling and I thought I could get an extra 10, 20, 50 million for my share would I give a flying feck how long it took? Absolutely not, and I wouldn’t give a feck about the transfer window either

Have to say I agree mate, and we already know they could careless about the Club.

 

[Berbaclass]

I'd be very surprised if @Berbaclass doesn't already have twitter blue

Do i feck

 

[spwd]

Do i feck

BTW . Joke

 

[Berbaclass]

BTW . Joke

 

[strandty]

nah, it wouldn't

Any material interest that would impact the share price must be shared with the NYSE 10 minutes before opening or 15 minutes after closing so yeah it would

 

[Giggsyking]

1992

nine two foundation

 

[Berbaclass]

Fecking Glazers

 

[Teja]

Fecking Glazers

Just opened this thread after a while to echo the sentiment.

fecking entitled pricks, I really hope they lose the billions from this sale so they're forced to work for the first time in their lives.

 

[Krakenzero]

Elmo himself is trying to kill this thread at this point

I hate the Glazers as much anyone but it’s not even greedy. They have an asset and want the best price, isn’t that just… completely normal?

if I was selling and I thought I could get an extra 10, 20, 50 million for my share would I give a flying feck how long it took? Absolutely not, and I wouldn’t give a feck about the transfer window either

The problem with this stance is that, even if it's correct at first glance, it involves a little more than that. There's lots of stakeholders that don't own 69% of the club and that are being either taken for a ride or have seen their future prospects being gambled for a few bucks more. And of course, there's the definition of what "owning" a club is, both from the leveraged buyout angle and from the true ownership of the brand/fanbase/culture etc.

 

[Joseunited]

Nail on the head. Not sure why everyone is so outraged by the lack of time scale!

You would do exactly the same thing the Glazers are doing right now. And if you weren't then you need to take a look at yourselves.

Well it is fecking up the transfer window so there is that.

 

[George The Best]

my theory is it’s informally agreed and whilst they are sorting out a few of the finer details the club are making the most of this period and trying to agree a few deals on the proviso that the budget is tight

as soon as it’s announced we’re owned by Qatar the prices are going to sky rocket

No they won’t in that scenario. If a deal is agreed, and an announcement is made, the shares will be suspended - and then reset to 38 USD or whatever the deal per share is.

 

[sglowrider]

No they won’t in that scenario. If a deal is agreed, and an announcement is made, the shares will be suspended - and then reset to 38 USD or whatever the deal per share is.

Even thought it's a term sheet? Assume that's what tarrou meant.

 

[glazed]

I think it's a forgone conclusion. The Glazers cannot continue with the Ineos bid due to shareholders possibly suing them for not acting in their best interest.

Unless the Qataris walked away in which case the INEOS bid would be the only one on the table. J&A would then make more money by screwing over both their siblings and the Class A shareholders. It's not impossible. But it does require Qatar to leave the table. If SJR quits then it goes the other way. Because they have to sell to somebody.

Ultimately there are more shares in favour of the Qatar deal but a lot hinges on the legal rules for selling Class B shares which aren't terribly clear in extremis. It might come down to who has the greater resolve.

 

[Andy_Cole]

Thank god Elon didn’t take over us

 

[Lost bear]

Ah, a title for this tread that that sums the situation up nicely.
So come on Glazers and off you feck!

 

[DickDastardly]

Fecking Glazers

Hope global warnings feck them up

 

[DOTA]

Anti-Glazer bias of the mods showing if you ask me.

 

[New Era 77]

More chance of Roman Reigns being pinned than the Glazers selling soon.

 

[dacore]

I hate the Glazers as much anyone but it’s not even greedy. They have an asset and want the best price, isn’t that just… completely normal?

if I was selling and I thought I could get an extra 10, 20, 50 million for my share would I give a flying feck how long it took? Absolutely not, and I wouldn’t give a feck about the transfer window either

You have to look at it the other way around as well. What if Qatar says: "feck you, we´ve had it, we´re out of here!". Then what? They are stuck with SJR bid that will get them sued? Other than that? Minority investment? That means that they have to put more of their own money into United as well which is not what they want. They shouldn´t bite off more than they can chew. That´s greed. And for what? Few millions extra? They could easily invest these billions they have been offered and make that extra money back in an instant anyway. Every day that passes is another day where they are loosing money from other missing investments.

 

[glazed]

Anti-Glazer bias of the mods showing if you ask me.

Remember when the occasional clown would surface and say the Glazers were generous owners and anything bad going on was all because Woodward was incompetent? Don't hear that thought much these days...

You have to look at it the other way around as well. What if Qatar says: "feck you, we´ve had it, we´re out of here!". Then what? They are stuck with SJR bid that will get them sued?

That's exactly what Joel and Avram would like to happen. They see it as a way of making more money.

 

[Tarrou]

Any material interest that would impact the share price must be shared with the NYSE 10 minutes before opening or 15 minutes after closing so yeah it would

this just isn’t true at all

business is much greyer than that

most things are possible it’s just a question of doing it the right way.. you certainly don’t need to inform the exchange if a deal is 90% there but not signed

I’ve sat on the board of a public company

 

[Son]

You have to look at it the other way around as well. What if Qatar says: "feck you, we´ve had it, we´re out of here!". Then what? They are stuck with SJR bid that will get them sued? Other than that? Minority investment? That means that they have to put more of their own money into United as well which is not what they want. They shouldn´t bite off more than they can chew. That´s greed. And for what? Few millions extra? They could easily invest these billions they have been offered and make that extra money back in an instant anyway. Every day that passes is another day where they are loosing money from other missing investments.

I’m pretty sure the deal is nearly over the line. The Glazer’s seem to be on pretty decent terms with Jassim now he’s giving them almost all they wanted.

 

[DOTA]

Remember when the occasional clown would surface and say the Glazers were generous owners and anything bad going on was all because Woodward was incompetent? Don't hear that thought much these days...

You don't. I'm not sure what the turning point was. Whether it was the Super League or just too many years of evidence adding up.

 

[Rightnr]

Best title yet. Let's hope we will into existence

 

[glazed]

You don't. I'm not sure what the turning point was. Whether it was the Super League or just too many years of evidence adding up.

Fan loyalty. People wanted to believe they weren't that bad.

I still think Qatar will happen. Just a lot of greed to process first.

 

[DOTA]

Fan loyalty. People wanted to believe they weren't that bad.

I still think Qatar will happen. Just a lot of greed to process first.

I hope you're wrong on the last bit but I am assuming the suggestions Qatar's bid is considered the most attractive one to the Glazers are correct and as such each day that passes without some rumour of INEOS expressing a willingness to go higher I feel we get closer to that reality.

 

[tenpoless]

Qw22,,,ru1

 

[glazed]

I hope you're wrong on the last bit but I am assuming the suggestions Qatar's bid is considered the most attractive one to the Glazers are correct and as such each day that passes without some rumour of INEOS expressing a willingness to go higher I feel we get closer to that reality.

It appers to be most attractive to the four Glazers who aren't Joel or Avram. I see what J&A are pitching for but it's pathetic. Really reminds me of Ken and Roman in Series 3 of Succession.

 

[sglowrider]

You have to look at it the other way around as well. What if Qatar says: "feck you, we´ve had it, we´re out of here!". Then what? They are stuck with SJR bid that will get them sued? Other than that? Minority investment? That means that they have to put more of their own money into United as well which is not what they want. They shouldn´t bite off more than they can chew. That´s greed. And for what? Few millions extra? They could easily invest these billions they have been offered and make that extra money back in an instant anyway. Every day that passes is another day where they are loosing money from other missing investments.

If they are this detrimentally deep into the summer there is no choice but to leave.