Club Sale | It’s done!

[romufc]

Its's boring and frustrating now, whenever a new story pops up and people get excited, in reality its just the same story re-written. We have known for months now that there is only 2 parties involved.

The deadline keeps shifting, both parties should now be pushing the Glazers to make a decision because everyday that passes, it impacts next season because we cant get deals done.

The players we want will be taken and then we will be panic buying again.

SJR looks like he is just doing everything to appease the glazers, whereas Jassim is trying to pressure them with stories saying he is frustrated, he wants it done.

 

[AlexUTD]

Saga FC

 

[King7Eric]

People on here seem to think Qatar has won it but I’m not seeing any new tweets posted?

A week or so ago people were convinced SJR had won. There hasn't been any substantial news regarding who would win for ages, so people just entertain themselves by swinging to one side and then another. Half take turns to act jubilant and the other froth at the mouth then the roles get reversed.

 

[dubplate warrior]

https://thepeoplesperson.com/2023/0...legal-battle-if-glazers-sell-to-ineos-265106/

Hedge funds that retain a minority stake in Manchester United are preparing to engage in a legal battle if the Glazers shut them out of the ongoing takeover proceedings.

According to Breakingviews, Ratcliffe’s proposal has elicited concerns among some of United’s investors.

Breakingviews reports that the ongoing United saga may end up into an all-out scrap, needing to be settled in court.

I feel like this puts Qatar as firm favourites for the sale. The same money in cash but without a lengthy and costly legal battle is a much better proposition for the Glazers. Baffling why this is taking so long though.

 

[cheekybackheel]

Wouldn't it be hilarious if both Jassim and Ratcliffe rang each other up and said 'feck this...let's both pull out at the same time...'

I wonder how quick the Glazers would dance then.

 

[-Supreme-]

If both bids are identical then what’s the benefits to the Glazers by taking Jim Ratcliffe offer where they will have to eventually sell all their shares in a few years time?

 

[Kaos]

Wouldn't it be hilarious if both Jassim and Ratcliffe rang each other up and said 'feck this...let's both pull out at the same time...'

I wonder how quick the Glazers would dance then.

It would be until us fans are stuck with the reality of the Glazers staying.

 

[Kaos]

If both bids are identical then what’s the benefits to the Glazers by taking Jim Ratcliffe offer where they will have to eventually sell all their shares in a few years time?

Their shares might be worth more in the future, especially if they feel the club has more commercial potential, especially if the superleague rears its ugly head again.

 

[Loon]

Know sod all about business, but is the most poorly handled takeover in football history or once again the Glazers demonstrating they're not as dense as many on here believe them to be?

I guess cash-out time will confirm.

 

[cyberman]

If both bids are identical then what’s the benefits to the Glazers by taking Jim Ratcliffe offer where they will have to eventually sell all their shares in a few years time?

There’s none. The Glazers shares will never be this high again because it’s a takeover and, after a sale, their shares will lose a lot of value because someone buying them won’t control the club as they would now. You don’t see class A shares having the same value as B for the same reason

 

[greenoffpearson]

Interesting! The institutional holdings is nearly $800mn at today's price. Surely they're not gonna let the money go without a fight

You would think the whole purpose of the holding is to profit from a sale.

United have plateaued as a money making machine, but these Class A shares, other than a small, optional, dividend don't really, profit.

The investors won't be happy if they are side tracked. Legal proceedings for these investors is probably second nature. Even if they lose it, no doubt, is just written off as an expense against their other profits.

 

[-Supreme-]

Their shares might be worth more in the future, especially if they feel the club has more commercial potential, especially if the superleague rears its ugly head again.

Yes true, don’t know why I was assuming they would be delisted from the stock market. But surely the Glazers would have to put investment in being a big shareholder?

 

[Blackbeard]

I had a look when it started last night. One of these usual ITK accounts made a post to say it's a success, he may have even done a twitch stream. And like everything with the Qatar stans, they're doing their best to manifest this into reality by repeating the obvious bollocks enough times.

If this "ITK" did have genuine ties to Jassim (he definitely doesn't), then I hope nobody is particularly fond of ETH because the same guy has also been very critical of him.

Similar to the ratcliffe stans trying all sorts of mental gymnastics to ignore the fact his bid hasn’t been accepted and the glazers have obviously been hanging on for the Qataris. I guess both sides like to put their own preferred spin on it to make themselves feel better.

 

[jm99]

Their shares might be worth more in the future, especially if they feel the club has more commercial potential, especially if the superleague rears its ugly head again.

The shares are already being sold at a 100% premium though, the shares aren't going to double in value in a few years, and even if they did that would only give r them the same amount as they're being offered now

 

[-Supreme-]

There’s none. The Glazers shares will never be this high again because it’s a takeover and, after a sale, their shares will lose a lot of value because someone buying them won’t control the club as they would now. You don’t see class A shares having the same value as B for the same reason

Thanks - that has cleared my understanding.

 

[spwd]

It's really intersting that there isn't much on bids beyond that of SR and SJR, yes i'm aware of the Zilliacus and Elliott. In comparision to Chelseas 6, glazers don't seem to have options. Or have i missed some other bids?

It's because they're asking basically twice what the clubs worth.

 

[pocco]

Similar to the ratcliffe stans trying all sorts of mental gymnastics to ignore the fact his bid hasn’t been accepted and the glazers have obviously been hanging on for the Qataris. I guess both sides like to put their own preferred spin on it to make themselves feel better.

Source?

And no bid has been accepted. We've heard many reports that the Glazers didn't ever contact Jassim after his third bid, and that they have concerns over the source of his funding. Absolutely nothing is clear with regards to the intentions of the Glazers.

 

[Devil You Know]

Their shares might be worth more in the future, especially if they feel the club has more commercial potential, especially if the superleague rears its ugly head again.

If the club had any more commercial potential, the Glazers would already be tapping into it and wouldn't be considering selling.

The whole reason the club is for sale is because the Glazers believe they've already squeezed out every drop of risk-free profit. Any further growth will require major investment (for example in the playing squad or the stadium) and that will always have the potential to go awry or be delayed or get screwed over by unpredictable interest rates.

By accepting a shares option on the Ineos bid, the Glazers are gambling on the possibility that the next owners will do a good job of rekindling growth. It's far from a sure thing. And given the way the Glazers have been running the club for the last 18 years. they'll know that it'll require a major injection of cash on top of competent leadership. Have Ineos shown enough of that at Nice? I don't think they have.

"Money now" is better than "money later", especially when "money later" is contingent on so many "unlikelies" and "unknowables". If the reporting on this story has been accurate (and it probably hasn't), the smart thing would be for the Glazers to take 92F's money and run.

 

[Superden]

if this isnt sorted before the first game of the seasons, will the atmosphere be toxic, or will the fans be full of the usual new season optimism and dazzled by our shiny new toys. ?

 

[Rood]

When they floated the Class A shares on the New York Stock Exchange the prospectus as referred to them selling 10% of the club.

Each share was floated for about $14.

I just can’t understand how having previously sold the shares on the basis that they represented 10% of the company, those shares would effectively become worthless unless there is a full sale of the club.

The Class A shareholders must be writing to the board to remind them of their duty.

If the Glazer family sell their stake for top dollar, and there not being a full sale, then those Class A shareholders will be left holding shares that will probably drop to one third of the value that the Glazers class B shares are selling for.

Even if there is a premium on the class B shares and the fact that buying them all gives you full control given the original share placing valued the Class A and B shares equally, it would not make sense, on face value, that they are now worth third of the class B shares.

What went wrong, Glazer misrepresentation at the outset combined with a lack of concern about the Board’s duty to all members?

The difference in value between a Class A and B share has always been a bit of an unknown - initially I undrstood that they they should have the same economic value, but it seems that precedents elsewhere show that they can trade at different values.

This is the point that many miss when they say that the Glazers are asking too much for the club because the market cap based on NYSE listing is so much lower (approx $3bn). But in reality that market cap is based on non-voting shares so dont represent the true value of the club.

 

[romufc]

if this isnt sorted before the first game of the seasons, will the atmosphere be toxic, or will the fans be full of the usual new season optimism and dazzled by our shiny new toys. ?

Going into a season with Glazers, we know the toys won't be shinning. We will go into the season with 1/2 new signings like we always have, we can't seem to get our work done early under the Glazers.

There will be a mix reaction where fans are excited about the new season but worried as most fans know we need a minimum of 4 signings to even improve, let alone compete.

 

[pauldyson1uk]

lets be honest the sale of the club has become a joke , hes buying it, they are buy it, no their not yes they are.
I can honestly see no sale , no new signings and demo's next season.
Add that to City and their feck Treble, football holds no pleasure for me right now.

 

[RedDevilUnited369]

Admin troll too?

Source?

And no bid has been accepted. We've heard many reports that the Glazers didn't ever contact Jassim after his third bid, and that they have concerns over the source of his funding. Absolutely nothing is clear with regards to the intentions of the Glazers.

Use basic logic. If they wasn’t waiting around for the Qataris they would have put Jim into the exclusivity period and be negotiating solely with Ineos.

Everything doesn’t need a source. Most “sources” are using logic to deduce a story based on information already available.

 

[croadyman]

Just seen a post on FB group that says all six Glazers are meant to be meeting tomorrow and four want to go with full sale to Jassim. Can obviously guess who the other two want.

 

[Moston Red]

lets be honest the sale of the club has become a joke , hes buying it, they are buy it, no their not yes they are.
I can honestly see no sale , no new signings and demo's next season.
Add that to City and their feck Treble, football holds no pleasure for me right now.

Yep that’s exactly where I’m at right now too.

 

[pocco]

Admin troll too?


Use basic logic. If they wasn’t waiting around for the Qataris they would have put Jim into the exclusivity period and be negotiating solely with Ineos.

Everything doesn’t need a source. Most “sources” are using logic to deduce a story based on information already available.

That's not necessarily true though. They may have been negotiating with SJR over his 3rd bid, or ironing out details with regards to how his deal would be structured etc. This would/will involve input and back and forth between lawyers, finance people etc. I doubt this is a quick turnaround and they could have been in the process of this on their way to the exclusivity period. It's been reported that they have held many discussions with Jim over the last few weeks, as you'd imagine. We don't know how long this process should take, so to say they would have simply put him into exclusivity is a leap.

 

[pascell]

It would be until us fans are stuck with the reality of the Glazers staying.

And go the hedge fund route for a source of income.

 

[Pexbo]

Just seen a post on FB group that says all six Glazers are meant to be meeting tomorrow and four want to go with full sale to Jassim. Can obviously guess who the other two want.

How could anyone possibly know this that’s information which would have had to come directly from a Glazer camp and their lips are tighter than their wallets.

 

[Blackbeard]

That's not necessarily true though. They may have been negotiating with SJR over his 3rd bid, or ironing out details with regards to how his deal would be structured etc. This would/will involve input and back and forth between lawyers, finance people etc. I doubt this is a quick turnaround and they could have been in the process of this on their way to the exclusivity period. It's been reported that they have held many discussions with Jim over the last few weeks, as you'd imagine. We don't know how long this process should take, so to say they would have simply put him into exclusivity is a leap.

You must see though you are doing exactly what you accuse SJ supporters of? Putting your own positive spin on everything to fit your desired outcome.

 

[RedDevilUnited369]

That's not necessarily true though. They may have been negotiating with SJR over his 3rd bid, or ironing out details with regards to how his deal would be structured etc. This would/will involve input and back and forth between lawyers, finance people etc. I doubt this is a quick turnaround and they could have been in the process of this on their way to the exclusivity period. It's been reported that they have held many discussions with Jim over the last few weeks, as you'd imagine. We don't know how long this process should take, so to say they would have simply put him into exclusivity is a leap.

If this is true, what’s the point of keeping Qataris around?

 

[We need an rvn]

How could anyone possibly know this that’s information which would have had to come directly from a Glazer camp and their lips are tighter than their wallets.

Well obviously the FB group is owned by the glaziers and they’ve posted a teaser announcement. I’m 1000% convinced

 

[MegadrivePerson]

Just seen a post on FB group that says all six Glazers are meant to be meeting tomorrow and four want to go with full sale to Jassim. Can obviously guess who the other two want.

Doesn't sound like the most reliable source!

 

[We need an rvn]

Probably been discussed before but it would be very time consuming to scroll through 1600+ pages

without knowing any of the small print, do we know if all 6 leaches have an equal voice and voting rights as per their share split, or do Avram and the other one hold more power over the other siblings?

just wondering what would stop any of the glazers from selling their shares should they wish to do so.

 

[cyberman]

How could anyone possibly know this that’s information which would have had to come directly from a Glazer camp and their lips are tighter than their wallets.

To be fair it’s apparently decision time this week so I’m guessing they’ll be having extensive meetings as we speak.
It’s a stupid ITK guess that they live off of

 

[jasT1981]

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Nothing new really, its what we all expected if true.

 

[greenoffpearson]

The difference in value between a Class A and B share has always been a bit of an unknown - initially I undrstood that they they should have the same economic value, but it seems that precedents elsewhere show that they can trade at different values.

This is the point that many miss when they say that the Glazers are asking too much for the club because the market cap based on NYSE listing is so much lower (approx $3bn). But in reality that market cap is based on non-voting shares so dont represent the true value of the club.

That is right, however they marketed the Class A holding as representing 10% of the club when they were initially floated.

In the meantime, the shares appear to have just been hanging around for a sale, they appear to hold no other value.

Also if your sell something as holding a particular value ie 10%, etc. why would that value decline compared to other shares which hold no other quality than they held in 2012 when the shares were floated?

The only conclusion I can make is that they were never worth 10% of the firm when they were sold. The actual value should have been much less, misrepresentation?

The only time you profit on those shares is on a sale and here the class A owners are being denied a profit because the majoiry shareholder and the same bunch that control the board are choosing what is better for them? Seems to be no clear division between their duty as board members and their own interest as shareholders.

 

[edgecutter]

Remember, the glazers are all trust fund babies. They haven't the brains that their father had. It shows how utterly incompetent they are.

 

[Licha M]

These clowns have shown how incompetent they are ever since they stopped sucking on daddy Malc's big hairy saggy titty when he croaked it.

They make a circus out of everything.

 

[Water Melon]

Come on - you know the answer to this yourself but try with this. No one wants to pay more than you have to. You also are aware as me that we basically know nothing of whats really going on behind the scenes. We wont know anything in details before maybe afterwards. We dont even know the price. We just know that two of the World’s biggest money-entitles are battling it out.

You know nothing, you have 0 facts to support your claim that this is a state bid. If not so, post facts. I am absolutely sure this bid is not a state one. Jassim's father is super wealthy and he can afford to buy United. Also lots of banks and investment firms in Qatar would be able to lend the money at much lower rates than a US or EU bank.

 

[King7Eric]

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Nothing new really, its what we all expected if true.

It's probably true but Simon Jones isn't really a reliable source. Wouldn't put any stock into what he's saying.

Until the takeover or acquisition process has officially started, there's nothing stopping us from buying/selling players.