Club Sale | It’s done!

[Tarrou]

Do you actually believe Reuters or Bloomberg are always accurate in their reporting? Especially when quoting sources relating to something protected by NDAs?

The BBC are about as accurate as Reuters but many here would dismiss a report by then quoting "sources", especially weeks after they've made the claim and it appears to have been inaccurate.

The reason Reuters and the like are well regarded is because they report after the fact, and give detailed information. Anyone trying to report something that has not happened yet is always more likely to be wrong than right.

probably not always but they are ten times more reliable than any footie journalist on this matter, that's for sure

 

[croadyman]

I see we're back in the "any negative news is fake" cycle again.

Anything about Ratcliffe I see as fake yeah

 

[JagUTD]

Some of you lot are hilarious

I know. It's been a roller coaster this thread watching how some constantly shift the goalposts.

I mean, at one point we had some claiming that a certain Qatari news source was certain to be right because it was owned by Jassims dad.... Turned out they were had by a kid in Cardiff. Amazing stuff

 

[Tarrou]

I know. It's been a roller coaster this thread watching how some constantly shift the goalposts.

I mean, at one point we had some claiming that a certain Qatari news source was certain to be right because it was owned by Jassims dad.... Turned out they were had by a kid in Cardiff. Amazing stuff

I missed that one, amazing

 

[McGrathsipan]

Are you Howard Nurse in disguise?

I need a nurse

 

[JagUTD]

probably not always but they are ten times more reliable than any footie journalist on this matter, that's for sure

Absolutely. But 10 times better than nothing still isn't something you'd get your house on.

 

[Syphon Wallet]

I see we're back in the "any negative news is fake" cycle again.

I think we all need to realise at this point, virtually ALL "news" on this takeover has been fake.

 

[Tarrou]

Absolutely. But 10 times better than nothing still isn't something you'd get your house on.

depends on the odds!

 

[Dr. Dwayne]

This is a wonderful piece of fiction. If I am a prospective investor interested in buying an asset with the intention of investing heavily to enhance the asset, my expectation would be that the value of the asset will rise.

If I am willing and able to both spend now to acquire a 100% stake and have money left for investing to improve the asset, why would I not want to reap the full reward of my spending? Why reward minority shareholders when they are contributing nothing?

That does not even touch upon the rationale from the perspective of status. The prestige of being able to call yourself the 100% owner of Manchester United likely has its own value to the Qataris.

It's not fiction at all. Publicly listed companies in the US are required to comply with the Sarbanes-Oxley Act, aka SOX.

SOX requirements are related to accuracy of financial reporting, among other things.

Delisting United from the NYSE would allow for the same type of offshore payment schemes that Manchester City have employed to cheat their way to the top.

 

[Rightnr]

I know. It's been a roller coaster this thread watching how some constantly shift the goalposts.

I mean, at one point we had some claiming that a certain Qatari news source was certain to be right because it was owned by Jassims dad.... Turned out they were had by a kid in Cardiff. Amazing stuff

We also have you questioning the actual pro financial journalists and sources who are leagues above any of the Athletic amateurs and it just makes me laugh.

 

[putzmcgee123]

I think we all need to realise at this point, virtually ALL "news" on this takeover has been fake.

I think a lot of fans are not ready for that conversation. The definition of "truth" used by football journalists is very liberal.

 

[jadaba]

Look closely guys, the Mason Mount unveiling photoshoot is the evidence we need that the sale's all but done.

Besides the Middle Eastern-sepia toned wall, that rug was clearly donated by the Qatari Museum of Islamic Art, it's right out of their carpet collection. I guess the 'forever and ever' banner is a sympathy acknowledgement of how ridiculously long this has been going on for.

 

[TheLoveless]

What are the benefits to delisting from the NYSE?

As a general question delisting has lots of benefits. Less risk of hostile take overs, in fact no risk if handled correctly with contracts, more privacy, no speculation, better investment opportunities etc.

In this case I presume they just want the club for themselves, as their toy.

I am no expert but I don’t know why you can’t delist a company in debt. Makes no sense. In fact, a company can be forcefully delisted if not compliant with the listing rules.

 

[BarstoolProphet]

I know. It's been a roller coaster this thread watching how some constantly shift the goalposts.

I mean, at one point we had some claiming that a certain Qatari news source was certain to be right because it was owned by Jassims dad.... Turned out they were had by a kid in Cardiff. Amazing stuff

Like you do?

 

[Oranges038]

I think we all need to realise at this point, virtually ALL "news" on this takeover has been fake.

Virtually all news related to Utd is fake.

Generating clicks is all that matters.

 

[JagUTD]

I missed that one, amazing

A genuine highlight of this whole mess

 

[mu4c_20le]

Anything about Ratcliffe I see as fake yeah

 

[putzmcgee123]

It's not fiction at all. Publicly listed companies in the US are required to comply with the Sarbanes-Oxley Act, aka SOX.

SOX requirements are related to accuracy of financial reporting, among other things.

Delisting United from the NYSE would allow for the same type of offshore payment schemes that Manchester City have employed to cheat their way to the top.

Re-read the post I quoted. Nothing I said has been rebutted. My bone of contention is the claim of the only reason for delisting from the NYSE is cheating. I am not suggesting that delisting from the NYSE does not make it easier to cheat.

 

[Oranges038]

this argument makes more sense in the other direction

if they didn't want a sale, they would have just said so by now

They sent a contract and Jassim signed it. Then decided that they weren't interested in going ahead with the deal.

 

[JagUTD]

We also have you questioning the actual pro financial journalists and sources who are leagues above any of the Athletic amateurs and it just makes me laugh.

Questioning any of them is the best stance to take right now. Surely the likes of yourself and all the others who have been burnt so often by getting excited regardless of who reports what, as long as it aligns with what you want to happen should be well aware of that by now?

 

[Rhyme Animal]

''Hi Joel and Avram I'd just like to say from the bottom of my heart...

...you are both cnuts, goodbye.''

 

[JagUTD]

Like you do?

I've never been had by anyone from Wales!

 

[Pexbo]

Questioning any of them is the best stance to take right now. Surely the likes of yourself and all the others who have been burnt so often by getting excited regardless of who reports what, as long as it aligns with what you want to happen should be well aware of that by now?

You don’t question any of them though, you consistently question Qatari positive news and give credence to Ratcliffe positive news

 

[pocco]

No one but the Glazers, the bidders, and their respective representatives know what's going on. Absolutely no one. But there's a ton of clout chasers. This has become crystal clear by this point.

FTFY

 

[Dr. Dwayne]

Re-read the post I quoted. Nothing I said has been rebutted. My bone of contention is the claim of the only reason for delisting from the NYSE is cheating. I am not suggesting that delisting from the NYSE does not make it easier to cheat.

The post you quoted was in response to another about delisting. You said that is a wonderful piece of fiction. I've pointed out it is not due to the reporting requirements for listed companies. Delisting's primary benefit in this situation is not having to follow the financial reporting requirements under SOX and what City have done over the years proves that. The hypothetical bravado you've claimed as the motivation is speculative at best.

 

[phunky]

Well expect the fanbase to go nuclear

i have wondered... what exactly would happen if the unimaginable happens? pitch invasion? any one has any inkling?

 

[Rhyme Animal]

No one knows what's going on, including the Glazers, the bidders and their representatives. Absolutely no one. This has become crystal clear by this point.

FTFY

FTFY both.

 

[JagUTD]

You don’t question any of them though, you consistently question Qatari positive news and give credence to Ratcliffe positive news

I really don't. Besides having a bit of fun at the expense of those who take any pro Qatar news as gospel, I've not taken any of the news particularly seriously.

I've certainly not tried to claim any news source is infallible as some have though, particularly anything linked to the State of Qatar itself.

 

[Rightnr]

Questioning any of them is the best stance to take right now. Surely the likes of yourself and all the others who have been burnt so often by getting excited regardless of who reports what, as long as it aligns with what you want to happen should be well aware of that by now?

None of the financial media have said for certain a deal is done though.

I've never been too excited because I've seen these things develop in the press for other companies.

And to be honest, once we were past May, I stopped caring because our window has been well and truly Mounted with Mehson.

 

[Woziak]

this is what was wrote



which doesn't sound like what you wrote, but who knows

the fact is, nobody knows the terms of the loan agreements

it is possible there are several loans, with several loanees, some with fixed rate terms and some variable

nobody knows what is written in each loan agreement, but it is likely the Glazers would want to structure it so it doesn't need to be paid off in the event of a takeover, to give them more flexibility when the time comes. It is secured against the club so that is definitely possible.

I'd guess at least some of the loans have the option to be called in, and therefore if the interest rates are lower than current market rate then they'll be called in, or renegotiated

we just don't know, and all these people claiming they do are just spitballing or misunderstanding things they've read, or repeating incorrect information

one piece of information we do have which is quite telling, is SJ claimed the debt would be cleared, and Jimmy didn't. If it was compulsory to pay off the loans, then why wouldn't Jimmy announce it in his statement? It is what all fans have been desperate for for over a decade. It's an open goal, yet he didn't do it.

It’s not compulsory for SJR because he’s not looking to delist the club from the NYSE if he was and made that clear in his bid, then he would have to settle the debt as well.

 

[Smores]

this is what was wrote



which doesn't sound like what you wrote, but who knows

the fact is, nobody knows the terms of the loan agreements

it is possible there are several loans, with several loanees, some with fixed rate terms and some variable

nobody knows what is written in each loan agreement, but it is likely the Glazers would want to structure it so it doesn't need to be paid off in the event of a takeover, to give them more flexibility when the time comes. It is secured against the club so that is definitely possible.

I'd guess at least some of the loans have the option to be called in, and therefore if the interest rates are lower than current market rate then they'll be called in, or renegotiated

we just don't know, and all these people claiming they do are just spitballing or misunderstanding things they've read, or repeating incorrect information

one piece of information we do have which is quite telling, is SJ claimed the debt would be cleared, and Jimmy didn't. If it was compulsory to pay off the loans, then why wouldn't Jimmy announce it in his statement? It is what all fans have been desperate for for over a decade. It's an open goal, yet he didn't do it.

It's not compulsory to pay off debts as part of a deliberate delisting or takeover in any shape or form. It could be part of the clubs specific loan agreements but i doubt it and as you say we just don't know.

Whoever is buying us will form a new company buy the shares of the existing listed firm and then take it private. They'll still own the existing company and its debt, it's a separate transaction to clear that debt or restructure it.

 

[Tarrou]

It’s not compulsory for Sir James Arthur Ratcliffe FIChemE because he’s not looking to delist the club from the NYSE if he was and made that clear in his bid, then he would have to settle the debt as well.

right, so you agree the debt doesn't need to be cleared for them to sell (even if I disagree we need to clear debt to delist, its irrelevant to our discussion really)

it is a transaction that occurs after they've sold their shares

 

[Zora]

Lot of noise right now about Glazers staying. So those of you who hate the idea of Qatar might get your wish when the new season approaches as there’s a chance we will be still be owned by the leeches.

 

[croadyman]

Lot of noise right now about Glazers staying. So those of you who hate the idea of Qatar might get your wish when the new season approaches as there’s a chance we will be still be owned by the leeches.

I refuse to contemplate something so awful

 

[strandty]

right, so you agree the debt doesn't need to be cleared for them to sell (even if I disagree we need to clear debt to delist, its irrelevant to our discussion really)

it is a transaction that occurs after they've sold their shares

Pretty sure i've read previously that in the event of a change of ownership or new majority shareholder, the loans against the Club get called in and would require paying off.

 

[Joseunited]

Lot of noise right now about Glazers staying. So those of you who hate the idea of Qatar might get your wish when the new season approaches as there’s a chance we will be still be owned by the leeches.

There is feck all noise about anything.

 

[stevoc]

Look closely guys, the Mason Mount unveiling photoshoot is the evidence we need that the sale's all but done.

Besides the Middle Eastern-sepia toned wall, that rug was clearly donated by the Qatari Museum of Islamic Art, it's right out of their carpet collection. I guess the 'forever and ever' banner is a sympathy acknowledgement of how ridiculously long this has been going on for.

If you zoom in on the crowd picture of the left you can see an 18 year old Jassim attending his first match at OT.

 

[sosolid4u09]

You can’t delist from the NYSE without clearing all the existing debt and that must be done first of your intention is to delist.

So the glazers cant delist themselves as shareholders until debt is cleared?
Whats all this about Sir Jim not clearing utds debt then?

 

[Syphon Wallet]

i have wondered... what exactly would happen if the unimaginable happens? pitch invasion? any one has any inkling?

Strongly written posts on twitter mostly.
The glazers must be sweating about it as we speak.

 

[Suv666]

Look closely guys, the Mason Mount unveiling photoshoot is the evidence we need that the sale's all but done.

Besides the Middle Eastern-sepia toned wall, that rug was clearly donated by the Qatari Museum of Islamic Art, it's right out of their carpet collection. I guess the 'forever and ever' banner is a sympathy acknowledgement of how ridiculously long this has been going on for.

No way this is just a coincidence