Club Sale | It’s done!

[roonster09]

Qatar wants to own United so badly that they aren't willing to negotiate a deal that actually gets them the control of a club from owners who only care about who gives more money is hilarious. Even ignoring all else - it was literally a purely financial race, and this supposed sugar daddy state can't even afford to pay up? But yet are promising all this money on infrastructure and squad? feck off Empty promises to win fans over without needing to back it up, that's what that is.

Yeah, so many empty promises without any money to show for.

How exactly is their 1 billion investment thing going to help them win the bid? It's a good PR trick to appease the fans. Half-arsed attempts to win the bid, looks like they won't.

 

[Nick7]

Everything doesn't need to go disastrously wrong for us not to win feck all of consequence in the next 10/15 years. It just needs to continue on the current trajectory.

You're purposefully ignoring reality and trying to paint reasonable assumptions as unreasonable, just like the Brexit gurus did during that joke of a referendum.

But carry on with the half-arsed responses, I'm sure it helps you sleep at night.

What’s to say we don’t continue on the same trajectory under Jassim? He’s struggling to put together a bid that would even be accepted, not the greatest start to ownership now is it?

 

[Member 101269]

Have you tried bidding more than the other guy, Jassim? No? Well there's your problem.

Interesting how some talk about bidding more, when there is only rumours that Ineos has offered a certain amount now and maybe something later.

 

[Tango80]

What the feck can they do if the Glazers want to stay on?

Do what Jim did?

 

[Woziak]

His only hope is to reach a scenario where it's 60/40 in Jassim's favour, 50/50 still leaves it very much Ratcliffe in the box seat

I agree with this right now they simply don’t want to leave !

 

[Marcelinho87]

Yeah I agree about that. There is also nothing wrong with them saying they pledge to spend £1bn right? We want to see our club improve.

I fear that there will be no change under the ownership of SJR. Why would the Glazers stay and pay the rest of their siblings off unless they know they going to profit massively?

They will want their yearly dividend payments, will SJR invest money into the club? or will it be the same as the Glazers?

At least with Jassim, we know their intention is to make us a top club again with stadium and playing staff investment.

2 Glazers aren't staying for 10m per year dividends, INEOS and Ratcliffe know that to make this work they will need to invest and big and the Glazers who stay hope that in doing so their shares increase in value.. will only happen if the club succeeds.

INEOS wouldn't be paying north of 5bn quid blindly, they know the state United are in, they know what needs doing otherwise what's the point

 

[crossy1686]

Why wouldn't he? It's usually what new owners do, they address the fans and lay out the plans... Utterly pointless doing it before.

Because that’s what sportswashing regimes do, they appease the fans.

Owners who are looking to profit off the name of Manchester United don’t give a shit what fans think, we’re just customers so he’ll do whatever is the best interests of his wallet and it won’t be buying a bunch of debt.

 

[prateik]

Skint Jassim should try and sign a championship club..

 

[Sparky Rhiwabon]

Me: I’ve already been offered 300k for my house, would you like to make a counter offer?

Jassim - yes I will offer you the princely sum of £270k and will invest £50k in it once I’ve bought it!

Me: erm no

Jassim - OK, how about £280k and will invest £50k in it afterwards

Me: erm, still no

Jassim - final offer £290k but I need an answer by this Friday (P.S. the £50k still stands!)

Me:

 

[Woziak]

My interpretation of this play by the Qataris is that they are:

1. Seeking to push this saga past the finish line.
2. Have a better defined cap for what they are going to offer.

Without this, the 6 Glazers are bound to keep dallying as it seems they can hardly agree what colour the sky is. Absent of ultimatums from a bidder, there is nothing forcing the Glazers to cut to the chase.

Additionally, this acts as a stopgap for the Qataris that will stop the Glazers from just using the improved bid in hopes of getting a better bid from INEOS/whoever else.

TL;DR - The Qataris are telling the Glazers, "here is a bid for 100% valuing the club almost matching INEOS' valuation. Go exclusive with us before Friday and we can negotiate further. If not, we're out."

That’s exactly how I see it too, either decide for all of you to leave and sell the club 100% or tell the fans the truth that you actually want to stay and try and milk the fans further, Eve. If SJR wins now he will be so unpopular, the best thing for him to do is sell his shares to SJ and let the Qatar start a hostile takeover, it won’t fallen because the contract the Glazers sign will prevent this!

 

[pratyush_utd]

Me: I’ve already been offered 300k for my house, would you like to make a counter offer?

Jassim - yes I will offer you the princely sum of £270k and will invest £50k in it once I’ve bought it!

Me: erm no

Jassim - OK, how about £280k and will invest £50k in it afterwards

Me: erm, still no

Jassim - final offer £290k but I need an answer by this Friday (P.S. the £50k still stands!)

Me:

Your analogy leaves out the part that 300k offered is spread over few years

 

[Berbaclass]

Me: I’ve already been offered 300k for my house, would you like to make a counter offer?

Jassim - yes I will offer you the princely sum of £270k and will invest £50k in it once I’ve bought it!

Me: erm no

Jassim - OK, how about £280k and will invest £50k in it afterwards

Me: erm, still no

Jassim - final offer £290k but I need an answer by this Friday (P.S. the £50k still stands!)

Me:

That's not accurate.

 

[cyberman]

Do what Jim did?

Even Qatar wouldn’t sink as low

 

[Scottynaldinho]

There's no point. Everything will eventually be owned by Saudis. Even Liverpool will be a PIF club

 

[Nick7]

Your analogy leaves out the part that 300k offered is spread over few years

and yours leaves out that they could earn more than the 300k after those few years.

 

[Berbaclass]

and yours leaves out that they could earn more than the 300k after those few years.

Could

 

[Sparky Rhiwabon]

Your analogy leaves out the part that 300k offered is spread over few years

Yes I didn’t want to over complicate it but, on the other hand, with the £300k I also get to retain a share in the very desirable but somewhat rundown house which the buyer is going to add value to (I can’t afford to do so myself) and then when he sells it on I get to share in that profit.

 

[bosnian_red]

Plus the extra 1B for the stadium, 700m to clear the debt and then a further 1B in transfers etc? nobody is paying close to 9B mate it's completely unrealistic

Glazers have priced the club out of the market its only because saggy bollocks has given them a stay option at 50% that anything is happening

Has something stopped Qatar to come up with a creative bid to take over control? Would anything stop him from still investing in the club if he picked a similar structure as Ratcliffe, to have full ownership over a couple years but full control now?

Nothing but his own lack of business sense or their actual desire has stopped it. The Glazers cared about 1 thing, and it's the thing that Qatar supposedly has unlimited amounts of. Them failing to get the club is just a complete failure on their part and shows nothing but good business sense from Ratcliffe. Should we feel bad for Qatar here? You should be pissed at Qatar if you wanted them because they've clearly dropped the ball.

 

[Wrecking ralf]

All this talk of SJR offering more is bollocks. Jassim is offering more up front in the initial bid. The whole thing about SJR paying the rest in 1-3 years or whatever, doesn’t mean he is using his own money. He’s a businessman, he’ll likely be hoping the club will be able to make enough profit to pay the Glazers off fully with money made by the club itself, if not then begrudgingly he’ll use money from INEOS. Jassim is increasing his offer gradually because he likely doesn’t want to be bent over by having to pay 6 billion direct to the Glazers, as he will want his money going into the club, not their pockets. Yes, he isn’t able to do anything with the club without making an offer that makes the Glazers sell up, but why would anyone want to be shafted regardless of how much they want to buy something. He’s paying off all our debt and investing in the club, something SJR won’t be doing at all. But I see his point about not wanting to just throw a massive bid in just to line that vermin’s pockets. Especially considering how stupid they have made this whole process of putting the club up for sale.

 

[Nick7]

Could

Yes? That’s what I said.

 

[Plant0x84]

Me: I’ve already been offered 300k for my house, would you like to make a counter offer?

Jassim - yes I will offer you the princely sum of £270k and will invest £50k in it once I’ve bought it!

Me: erm no

Jassim - OK, how about £280k and will invest £50k in it afterwards

Me: erm, still no

Jassim - final offer £290k but I need an answer by this Friday (P.S. the £50k still stands!)

Me:

I wonder if he’s being advised by a certain Mr E Woodward?

 

[Nick7]

I wonder if he’s being advised by a certain Mr E Woodward?

Feels a little like the OG Sancho saga doesn’t it

 

[Steve Bruce]

Me: I’ve already been offered 300k for my house, would you like to make a counter offer?

Jassim - yes I will offer you the princely sum of £270k and will invest £50k in it once I’ve bought it!

Me: erm no

Jassim - OK, how about £280k and will invest £50k in it afterwards

Me: erm, still no

Jassim - final offer £290k but I need an answer by this Friday (P.S. the £50k still stands!)

Me:

It really depends on what SJR and SJ actual bids are.

Eg sir Jim offers 170k for 51% valuing the house just under 340k and he'll pay you off in 3 years time or SJ offers 330k right now cash for 100% .

What would you rather have? Some I suggest would wait the 3 years for the extra 10k but others would rather have the lump sum now albeit near 10k less.

I know I'm being simplistic but my point is if it's fairly close then it could go any way but if sir Jim is buying the house at the value of 340k and SJ is only offering 300k, it is definitely worth taking SJR as it's a big lump of cash difference.

 

[Berbaclass]

Yes? That’s what I said.

I was emphasizing 'could' as it's a gamble. Nothing is happening within 3 years to significantly increase the value.

 

[Scottynaldinho]

I won't be surprised if the Sheikh was a complete fraud all along.

 

[bosnian_red]

What the feck can they do if the Glazers want to stay on?
Even if Qatar offer more I guarantee the dickheads would be thinking if we keep some shares we’ll cash out big within the next 10/20 years.
How do we know Jim isn’t just buying us to flip us in a few years to oil money anyway? Get a stadium built on credit that oil country would pay off anyway because that’s what they seemingly want to do so then you have a nice, brand spanking new stadium to up the price, free of charge.

We don't know the second point.

What Qatar can do is the same thing Jim is doing right now. That's the point. Nothing stopped them from being clever about structuring a deal. They have enough money. If they wanted to own the club, they would be the owners. It is literally as simple as that. Either they are god awful negotiators or weren't that serious to begin with. Or a mix of the 2.

 

[Berbaclass]

I won't be surprised if the Sheikh was a complete fraud all along.

Raine have already done due diligence on the bidders and established POF

 

[Marcelinho87]

Because that’s what sportswashing regimes do, they appease the fans.

Owners who are looking to profit off the name of Manchester United don’t give a shit what fans think, we’re just customers so he’ll do whatever is the best interests of his wallet and it won’t be buying a bunch of debt.

Are you saying that SJR is buying Manchester United to fill his pockets? The man that owns a petrochemical company that absolutely dwarfs Manchester United in revenue, profits, the works... A club which is currently running on empty is going to make SJR a profit off its name?

I doubt, very much.

 

[Cassidy]

Jim Ratcliffe has placed a bid that values the club shares at £5bn+. Jassim has placed a bid that gives the club an EV of £5bn+.
One bid is for the controlling stake the second is for 100%. It’s a fact that Ratcliffe’s bid will give the Glazers more money for each share that they own. That’s all they care about.
There is a difference between Enterprise Value and Equity Value.

Both bids are quoted in 100% of shares, this is the basics of M&A. SJR is not valuing the club at +£7bn we would have heard about that if he was.

 

[Nou_Camp99]

Are you saying that SJR is buying Manchester United to fill his pockets? The man that owns a petrochemical company that absolutely dwarfs Manchester United in revenue, profits, the works... A club which is currently running on empty is going to make SJR a profit off its name?

I doubt, very much.

Yeah I'm not buying that either. There's far easier ways to make money at those prices.

 

[Nick7]

I was emphasizing 'could' as it's a gamble. Nothing is happening within 3 years to significantly increase the value.

They’re still guaranteed the base price.

 

[Berbaclass]

They’re still guaranteed the base price.

Base price of what?

 

[Steve Bruce]

and yours leaves out that they could earn more than the 300k after those few years.

No chance United will be worth double in 3 years

 

[Giggsyking]

Your analogy leaves out the part that 300k offered is spread over few years

and it is not a house. It is a football club

 

[UnitedSofa]

Radcliffe

We’re going to get this a lot like we do with the “Glaziers” aren’t we?

 

[bosnian_red]

It really depends on what SJR and SJ actual bids are.

Eg sir Jim offers 170k for 51% valuing the house just under 340k and he'll pay you off in 3 years time or SJ offers 330k right now cash for 100% .

What would you rather have? Some I suggest would wait the 3 years for the extra 10k but others would rather have the lump sum now albeit near 10k less.

I know I'm being simplistic but my point is if it's fairly close then it could go any way but if sir Jim is buying the house at the value of 340k and SJ is only offering 300k, it is definitely worth taking SJR as it's a big lump of cash difference.

Pretty much this but with the caveat that Qatar bid twice after the final bidding round to even get close to matching Ratcliffe, while still not matching it anyway.

 

[SaboTaj]

Interesting this

Tweet

— Twitter API (@user) date

Is INEOS’ bid actually better than Jassim’s? I actually agree with what the tweet from the Sweedish Ramble page said, from a Net Present Value standpoint Jassim’s offer clesrly looks likes the better one.

 

[Andy_Cole]

I still have little hope for Qatar. If the Glazers wanted Qatar money all along and have been trying to get every penny. At least it’s the end game now.

 

[Cassidy]

So yet again he's still not offering enough

No one arguing that point, and neither are offering enough clearly as the club is still to be sold. Or in reality its called negotiations

 

[Nick7]

Base price of what?

The base price of the shares INEOS is offering to buy. Basically the glazers won’t get less than what INEOS values the club, but they could get more.

No chance United will be worth double in 3 years

who said anything about double?