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Club can’t just stream their own matches.I think the hedge fund interest is based on clubs starting their own internet streaming service.
Imagine if 10% of the supposed 650 million world wide utd fans were willing to pay £5 per month to access all games, including women, academy, training sessions, premium exclusive content and that revenue went directly to the club that's £3.9B per year.
That would be why a hedge fund would be willing to take a minority stake.
these people are cold sharks situated other side of the world, immune to the sport and club. The thing is the Glazer model cant be redone here, we actually need building up again.Great post. Thanks.
One question, surely any investor would need to take into account the likely backlash from the fan base. I could honestly see biblical protests should the parasites decide to stay.
Carlyle has strong relationships with HBJ."Carlyle Group, which has $376bn in assets under management, has also expressed an interest in investing in the club, according to two people with knowledge of the matter. If Carlyle is involved, a preferred equity deal would be likely, one of the people said."
This is significant - the FT is a gold standard source.
They can't at the moment, but they might be able to in the future.Club can’t just stream their own matches.
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That’s exactly what I was saying but that could be a 3-4 year wait while the Glazers consider to run the club into the ground, Carlyle Group have very strong relationship with SJ and Qatar, which is interesting on its own, SJR has apparently bid about £5bn , most of us thought this was for 69% of the club but now we find out the Glaziers would get 69% of the £5bn or £3.45bn to divide amongst themselves and and owning the club he would keep the club listed on the stock market with no obligation to buy the remaining 31% of shares and on taking control would service the current £600m debt with an inter company loan guaranteed by Ineos, so theoretically the debt transfers to Ineos but we all know this is not true and would only benefit the club If something happened to the Ineos group in the same way that Abrahamovic was sanctioned and the debt owed to him was written off.I think the hedge fund interest is based on clubs starting their own internet streaming service.
Imagine if 10% of the supposed 650 million world wide utd fans were willing to pay £5 per month to access all games, including women, academy, training sessions, premium exclusive content and that revenue went directly to the club that's £3.9B per year.
That would be why a hedge fund would be willing to take a minority stake.
What's a preferred equity deal?"Carlyle Group, which has $376bn in assets under management, has also expressed an interest in investing in the club, according to two people with knowledge of the matter. If Carlyle is involved, a preferred equity deal would be likely, one of the people said."
This is significant - the FT is a gold standard source.
Maybe they open the door for Jassim.I reckon Carlyle are the chosen ones.
Ratcliffe wants a multi-club model. So if he fails to buy united don't see why he won't buy up another PL club. Third (attempt at buying a PL club) maybe the charm?You'd think a life long United fan would be reluctant to do that.
If it is to be a minority investment, then Carlyle is the best choice!
He already has a sponsorship with Spurs, so maybe that would work for him if ENIC sell up.Ratcliffe wants a multi-club model. So if he fails to buy united don't see why he won't buy up another PL club. Third (attempt at buying a PL club) maybe the charm?
This isn’t the wayIf Carlyle are worth £300b then it wouldn't be the worst thing in the world, they'd surely take over the whole club eventually. We'd then go full Boehly in the transfer market but hopefully target the right players unlike Chelsea.
David Rubenstein is a close friend of HBJ's.They're worse than Qatar.
Is that a good thing or a bad thing?David Rubenstein is a close friend of HBJ's.
This is a disaster that we simply can't allowAsbolute worse case scenario
The job if venture capital is the squeeze every, single, last, penny OUT of the "assit" for thier shareholders, this is doomsday shitIf Carlyle are worth £300b then it wouldn't be the worst thing in the world, they'd surely take over the whole club eventually. We'd then go full Boehly in the transfer market but hopefully target the right players unlike Chelsea.
I agree with your conclusion but curious to know your thought process.AUM is indicative of nothing. It can and will rise and fall by 100B in a year.
They cannot be worth 300B as they are a hedge fund, AUM vs Fund fees. Fund fees multiplied by some years or whatever is what they are worth.If Carlyle are worth £300b then it wouldn't be the worst thing in the world, they'd surely take over the whole club eventually. We'd then go full Boehly in the transfer market but hopefully target the right players unlike Chelsea.
It's just a nothing figure without context ( and 'actual' AUM includes cash and liquid commodities which are rarely if ever disclosed.). I work for a prop fund/market maker, and our AUM can wildly vary in the short term. Whereas if you're a hedge fund or asset management firm and not jumping on 8%+ of the worlds ETF's every day, you might be quite stable, which again might be completely different from how the carlyle group works.I agree with your conclusion but curious to know your thought process.
Is there some financial formula for calculating that? Or its just plucked out from thin air?Keep in mind that a very large chunk of the club's value - let's say $2 billion but perhaps more - lies in sports washing. That has value to INEOS and even more value to Qatar but no value at all to a US hedge fund. Which is why such a group will never really outbid the former. This leak is just a crude ploy to drag out the bid and squeeze a few more quid from Qatar.
Well, with their close relationship, it does seem very bizarre how Carlyle would be going up against HBJ/Jassim's bid for United.Is that a good thing or a bad thing?
They’re selling a multi-billion £ asset and still have 7 serious bidders at the table. Of course they’re going to take it to a third round of bids you numpty.Not read up on the sale after I realised a while back that it was just becoming a farce and that the Glazers don't actually want to sell.
Thought I'd come and see what's going on and I realise it's still a farce. Third round of bidding? This is the most ridiculous sale process I've ever heard of, and the fact there still looking for bids tells you they're not happy with what they've been offered.
I honestly don't know how anyone hasn't just mentally checked out of this at this stage, because it's another crock of shite from the Glazers and that's been apparent for ages. They'll get investment that sees the interested family members retain control and it will be business as usual. How anyone can get excited at the prospect of a US hedge fund getting involved is beyond me. This is just a step that will prolong Glazers involvement for the next 2 decades at least.
Surely that’s what these minority bids are for? Raine can then put bidders together to drive up the price. I still don’t understand how minority investment works for the Glazers when 4 of them want out and the money gained would need to be invested in the club. It makes zero sense from their POV.Perhaps Jassim is buying the 69% and Carlyle the rest.