Recent content by Redjazz

MU plc has to pay the Raine fee of 31M (plus expenses). No Idea when that's payable though I presume it's on completion of the transaction. The total fees around the transaction will be a lot higher. The third quarter accounts will show up a fair lump of it under exceptional expenses. The...

Paying down the RCF is more about easing cash flow pressure than looking to the long term. Typically each of the RCFs have to paid down each year regardless. At that point borrowing can again resume. The club has been doing that for a while without the influx of JR cash. Difficult to manage...

That's so. Any amounts relating to the RCF is principal only. Interest payable is added to other interest to get to an overall interest charge. The RCF is generally used to meet liquidity needs in the short term where there are timing differences between revenues and receipts. Covid hit revenue...

A reasonable take though I think you are overthinking it with the political angle. A pledge from a bank, if provided, might not meet "sufficient evidence of the financing and customary financing commitment papers", if that pledge was opaque wrt how the that pledge was underwritten- where were...

"Desperately" is a tad strong but the big takeaway from the Sec filings is that their original ambition was for a complete sale of the club. The bid you mention would have yielded them (the Glazers) close to what they required but agreeing such a deal as directors would have inevitably invited A...

Its a customary requirement not a necessary one. At all stages- from the first bid to the last- the Qatar bid was allowed access to diligence material even though they hadn't provided "customary financing commitment letters".

Its clearly your opinion but alas your opinion is not in the filing. If it were , I would have included it in the summary.

I am well aware that people will have opinions on these matters and generally these opinions will reflect their bias for JR, Qatar, or whoever. I frankly don't give a damn about any of them and as a "neutral" my take on the filings sticks to the essential facts. And one of those facts is that...

Nope. I will refer you to the post you quoted. It is entirely accurate. Any bias in interpretation is yours alone.

What is your point exactly? That the lack of proof of financial funding invalidated their bids? That's simply not so. Each bid was considered and referred to the board. You and the confirmation bias you rode might consider it a PR exercise but the Glazers didn't otherwise "Bidder A" would have...

Simply not true. If you actually read the filings, the Qatari bid was one to the 2 main bids throughout the process. Every bid made (and there were quite a few) was considered and referred to the board. Qatar withdrew right after the final JR proposal (the current deal).

SCHEDULE 14D-9 up on Edgar provides a complete run through of the bidding process......... Takeaways: JR was not interested in a complete buyout- the Glazers were originally seeking, or at least contemplating, a complete sale. JR wanted control through the purchase of B shares only. His original...

Feck, there's a fair bit of number crunching involved in that, but the rough cut would have JR with 29% ownership and 28 to 29% voting power. Voting power is really in the B shares. He gets 1/4 of 110m B shares upfront and an additional 6m from the 300m investment giving him about 33/116 or 28%...

Each contribute an equal number of B shares meaning some are giving up more than 25% of their B shares and some less.

No. The club can not be sold in the first year. If its sold within 3, then JR would, at the very least, gets his money back. The time restrictions are there to protect his investment. They don't speak to the Glazers intentions. The ROFO stuff relates to B shares and is open ended, It gives...