Club Sale | It’s done!

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Berbaclass

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Give over. A while back he was making claims based on twitter sources, but refusing to tell us where he was getting this info from. Just because he was wrong and is now pretending it was all a joke, it wasn't.
Or maybe you just didn’t get the joke obviously :wenger:
 

Water Melon

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Just some questions swirling around, sorry for the long post, newbie's only get 3 bats per day.

On the assumption that SJR will win then, he takes this as either with full control, 69% or a simple majority 51%.

69% then great, job done. No-one is going to be too worried about the speculative shares on the NYSE, they only ever received smallish dividends and will return to their previous low value except , if others are correct, SJR dilutes the share holding by a couple of billion then the equation starts to swing. He will need a couple of billion for the stadium facilities squad etc.

He could inject his own money, but then would be benefitting the NYSE holders. He may do this because he has total control and overall benefits the most. He can always sell off total control in the future and expect a good return, as the Glazers will receive now.

Situation 2, simple majority.

There is no way this happens with the remaining (holdout) Glazers, whatever combination of Glazers, keeping class B shares.

Even with 7ish%, taking into account the new post takeover shares equation, they keep control. So all shares become Class A.

So Glazers keep 18% class A shares, plus any others they already have.

If SJR retains a simple majority then he relies on the holdout Glazers for any major changes to the club (ie full control - this being 2/3s of the voting shares ( that is why the Glazers never sold their stake to less than 67% (have 69% class B shares today))).

To make structural changes you need full control, the 2/3 s of the share votes.

Therefore he needs the holdout to bat in the right direction.

That requires a really refined agreement for both parties, that takes time and effort.

The problem is that that will eat into the transfer window.

So it will be interesting to see what transfer business is done before a deal is fully revealed. The more activity indicating that a plan has been agreed, assumption being the Glazers won't move players on at a loss etc because they look at book value not football value.

The holdouts will want to be assured of a good return, that their shares to be worth more in the future, but if this is guaranteed then non holdouts will want the same, they aren't short of money and could keep a stake. If they keep a stake then , because SJR wants at least a simple majority, the Glazers would need to share 18%, so less for each ! Question, would it be worth Joel and Av hanging around for 3% each?

Also why would the non holdouts agree to sell for less because the deal is being skewed to enable Joel and Avram to hang around for more money?

I am assuming that there is division amongst the Glazers, I assume Bryan (?), who attended the Cup Final is being softened by Avram?

Back to SJR, no way he invests more into the club unless he has a water tight agreement to buyout the holdouts.

Further no way he creates new shares to dilute the share structure unless he has a cast iron agreement, otherwise he is investing without being able to take full control and with no prospect of getting his over inflated valuation back, all things being equal.

Sundry points.

Some Glazers own class A shares, worth a few hundred million, based on the inflated take over value, another factor that needs to be added up when working out SJR's and SJ's bids. Darcey would not want that value to return to a third of the value that SJ is willing to pay today?

Would the NYSE money man allow her to sell at 3x the value of what their same class A shares will be worth, I don't know, if they don't the courts is where they go for clarity?

I would assume given SJ's Friday deadline, the Glazers will be going through their Excell spreadsheet scenarios 24/7, calling eachother out.
Re-posting this again, but this is the best take on the whole thing for me.
 

Chief123

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What's stopping Ratcliffe buying out the Glazers when he hits 51% ownership? Isn't that how the Glazers originally bought the club themselves?
Ratcliffe could probably force the glazers to exit immediately based on the call option. However, he would have to offer the call strike price which would be a strange move to do so early. Glazers wouldn’t mind either as the call price would be more than the 51% purchase price. But then that’s the whole point of SJR’s bid. He doesn’t have to pay up the highest bid of the two immediately.
 

stw2022

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The risk to the Glazers is that if one party does pull out, the remaining bidder has all the leverage
 

Micky Targaryen

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Yes, because his success as a business man is there for all to see. The finance and funding he has available is there fore all to see. The way he seemingly has approached this whole process with smart moves and professionalism is something I would like our next owners to display.

These are all reasons I am pro-SJR.
Not discrediting his business acumen. I mean he’s a billionaire ffs. Running football clubs on the other hand…
 

Sir Erik ten Hag

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Yes, because his success as a business man is there for all to see. The finance and funding he has available is there fore all to see. The way he seemingly has approached this whole process with smart moves and professionalism is something I would like our next owners to display.

These are all reasons I am pro-SJR.
If being a good businessman is all it takes, people would welcome Woodward back with open arms...
 

Woziak

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If we had a crystal ball right now and there was two timelines, two scenarios as such.


Scenario one - The most likely SJR wins, initially there is some hostility as the 6 Glazers now stay on with 20% between them of the club and they still have voting B shares which are 10 * the voting power of the other shares. Joel and Avram stay on the board but SJR is now the controlling share holder and key decision maker. The Glazers will all leave by 2026/27.

Ineos absorbs the club debts, Stops annual interest payments and dividends are stopped in the short term period while the club regains financial health. SJR speaks to the press and decides to start with a £300m Summer Transfer budget, he employs Paul Mitchel straight away but does not sack Arnold or Murtourgh during the changeover. We buy KMJ, M Mount, R Hojlund, D Rice and Diego Costa In the summer and then spend another £100m in the winter on Kane and D DumFries. Basically ETH is backed and left alone to work on his own project, John Murtourgh is demoted to work under Paul Mitchel or let go. United improve, we come 3rd in the PL with 80 points, win an Fa Cup, get knocked out at 1/4 final CL but the club seems to be more stable and revenue grows to £675m, allowing in year 2 the club to really mount a challenge, The profit made will be used however to pay off the existing debt. No stadium development starts and £400m plan will start 24/25 season to upgrade to 90,000.


Scenario 2 - SJ 9-2 foundation won the bid, they immediately take control of transfers, all board members, Richard Arnold, John Murtourgh are all sacked. The debt is completely paid off, a full plan to upgrade the stadium and build a stadium for youth and woman’s team is shown and put into action. A complete new Executive team are employed by 92 Foundation to oversee all key football and financial decisions.

The Qatari connection with PSG becomes more clear now as they take complete control and the following budget of £325-400m net is put in place, ETH is told he can have 4/5 players of his choice but he will have to work with others from PSG with following which will be transferred to United as the club becomes the main objective of Qatar in European football competitions; Mbappe(150m) Hakimi(50m)and Veratti (Free) will all be transferred to United and Maguire(50), Martial(50m) and Sancho (75m) transferred to PSG.

Yep deals like this will be common practice and a new level of cheating will be at play , we thought City were brazen, yes SJR can also do exactly the same with Nice too for exceptional French talent, it’s why Uefa do not like the same owner for two different clubs in European football.

ETH gets KMJ, Diego Costa, V Oshimen, D Rice, M Mount and the spending gross is £550m but the club sell 9 players for £250m due to inflated values being paid by sister club PSG. United now boast a squad in one to two windows that rivals City, they also have the best front three in World football Mbappe, Rashford and V Oshimen. United come 2nd with 88 points but score over 80 goals in the league for the first time in 10 years, They win the carabo cup and Fa Cup, get to SF of CL but SJ and Qatar are not happy as City regained the PL and CL so they sack ETH and employ Z Zidane or Ancelotti and the cycle repeats, off the field the club is healthy, new stadium is agreed to be built over 2/3 years on the same plot of land which means Old Trafford continues until the new stadium opens and then gets turned into 25,000 all seater second stadium for women and youth team. This is all planned for 26/27 season.


Now it’s quite possible that neither of these scenarios play out after takeover but my point is they both have huge pros and huge cons and both have massive uphill battles to win to cure the club from decades of mistreatment from the Glazers, all any united fan wants is simply for the Glazers to leave the club, yes, relinquish control is a start but leave is the ultimate wish and I for one really don’t care who buys the club as long as the Goblins are no longer able to treat us like their cash cow to abuse at will!
 
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Sir Erik ten Hag

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If we had a crystal ball right now and there was two timelines, two scenarios as such.


Scenario one - The most likely SJR wins, initially there is some hostility as the 6 Glazers now stay on with 20% between them of the club and they still have voting B shares which are 10 * the voting power of the other shares. Joel and Avram stay on the board but SJR is now the controlling share holder and key decision maker. The Glazers will all leave by 2026/27.

Ineos absorbs the club debts, Stops annual interest payments and dividends are stopped in the short term period while the club regains financial health. SJR speaks to the press and decides to start with a £300m Summer Transfer budget, he employs Paul Mitchel straight away but does not sack Arnold or Murtourgh during the changeover. We buy KMJ, M Mount, R Hojlund, D Rice and Diego Costa In the summer and then spend another £100m in the winter on Kane and D DumFries. Basically ETH is backed and left alone to work on his own project, John Murtourgh is demoted to work under Paul Mitchel or let go. United improve, we come 3rd in the PL with 80 points, win an Fa Cup, get knocked out at 1/4 final CL but the club seems to be more stable and revenue grows to £675m, allowing in year 2 the club to really mount a challenge, The profit made will be used however to pay off the existing debt. No stadium development starts and £400m plan will start 24/25 season to upgrade to 90,000.


Scenario 2 - SJ 9-2 foundation won the bid, they immediately take control of transfers, all board members, Richard Arnold, John Murtourgh are all sacked. The debt is completely paid off, a full plan to upgrade the stadium and build a stadium for youth and woman’s team is shown and out into play. A complete new Exec team are put in to oversee all key football and financial decisions.

The Qatari connection with PSG becomes more clear now as they take complete control and the following budget of £325-400m net is put in place, ETH is told he can have 3 players of his choice but he will have to work with the following which will be transferred to United as the club becomes the main objective of Qatar in European football competitions; Mbappe(150m) Hakimi(50m)and Veratti (Free) will all be transferred to United and Maguire(50), Martial(50m) and Sancho (75m) transferred to PSG. Yep deals like this will be common practice and a new level of cheating, yes SJR can also do exactly the same with Nice too for exceptional French talent, it’s why Uefa do not like the same owner for two different clubs in European football.

ETH gets KMJ, Diego Costa, V Oshimen, D Rice, M Mount and the spending gross is £550m but the club sell 9 players for £250m due to inflated values being paid by sister club PSG. United now boast a squad that rivals City with the best front three in World football Mbappe, Rashford and V Oshimen. United come 2nd with 88 points but score over 80 goals in the league for the first time in 10 years, They win the carabo cup and Fa Cup, get to SF of CL but SJ and Qatari are not happy as City regained the PL and CL so they sack ETH and employ Z Zidane or Ancelotti and the cycle repeats, off the field the club is healthy, new stadium is agreed to be built over 2/3 years on the same plot of land which means Old Trafford continues until the new stadium opens and then gets turned into 25,000 all seater second stadium for women and youth team. This is all planned for 26/27 season.


Now it’s quite possible that neither of these scenarios play out after takeover but my point is they both have pros and cons and both have huge uphill battles to win to cure the club from decades of mistreatment from the Glazers, all any united fans wants is the Glazers to leave, lose control is a start but leave is the ultimate wish and I for one really don’t care who buys the club as long as the Goblins are no longer able to treat us like their cash cow to abuse at will!
Which scenario has the better morale high-ground? :drool:
 

Rightnr

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If we had a crystal ball right now and there was two timelines, two scenarios as such.


Scenario one - The most likely SJR wins, initially there is some hostility as the 6 Glazers now stay on with 20% between them of the club and they still have voting B shares which are 10 * the voting power of the other shares. Joel and Avram stay on the board but SJR is now the controlling share holder and key decision maker. The Glazers will all leave by 2026/27.

Ineos absorbs the club debts, Stops annual interest payments and dividends are stopped in the short term period while the club regains financial health. SJR speaks to the press and decides to start with a £300m Summer Transfer budget, he employs Paul Mitchel straight away but does not sack Arnold or Murtourgh during the changeover. We buy KMJ, M Mount, R Hojlund, D Rice and Diego Costa In the summer and then spend another £100m in the winter on Kane and D DumFries. Basically ETH is backed and left alone to work on his own project, John Murtourgh is demoted to work under Paul Mitchel or let go. United improve, we come 3rd in the PL with 80 points, win an Fa Cup, get knocked out at 1/4 final CL but the club seems to be more stable and revenue grows to £675m, allowing in year 2 the club to really mount a challenge, The profit made will be used however to pay off the existing debt. No stadium development starts and £400m plan will start 24/25 season to upgrade to 90,000.


Scenario 2 - SJ 9-2 foundation won the bid, they immediately take control of transfers, all board members, Richard Arnold, John Murtourgh are all sacked. The debt is completely paid off, a full plan to upgrade the stadium and build a stadium for youth and woman’s team is shown and put into action. A complete new Executive team are employed by 92 Foundation to oversee all key football and financial decisions.

The Qatari connection with PSG becomes more clear now as they take complete control and the following budget of £325-400m net is put in place, ETH is told he can have 4/5 players of his choice but he will have to work with others from PSG with following which will be transferred to United as the club becomes the main objective of Qatar in European football competitions; Mbappe(150m) Hakimi(50m)and Veratti (Free) will all be transferred to United and Maguire(50), Martial(50m) and Sancho (75m) transferred to PSG.

Yep deals like this will be common practice and a new level of cheating will be at play , we thought City were brazen, yes SJR can also do exactly the same with Nice too for exceptional French talent, it’s why Uefa do not like the same owner for two different clubs in European football.

ETH gets KMJ, Diego Costa, V Oshimen, D Rice, M Mount and the spending gross is £550m but the club sell 9 players for £250m due to inflated values being paid by sister club PSG. United now boast a squad in one to two windows that rivals City, they also have the best front three in World football Mbappe, Rashford and V Oshimen. United come 2nd with 88 points but score over 80 goals in the league for the first time in 10 years, They win the carabo cup and Fa Cup, get to SF of CL but SJ and Qatar are not happy as City regained the PL and CL so they sack ETH and employ Z Zidane or Ancelotti and the cycle repeats, off the field the club is healthy, new stadium is agreed to be built over 2/3 years on the same plot of land which means Old Trafford continues until the new stadium opens and then gets turned into 25,000 all seater second stadium for women and youth team. This is all planned for 26/27 season.


Now it’s quite possible that neither of these scenarios play out after takeover but my point is they both have huge pros and huge cons and both have massive uphill battles to win to cure the club from decades of mistreatment from the Glazers, all any united fan wants is simply for the Glazers to leave the club, yes, relinquish control is a start but leave is the ultimate wish and I for one really don’t care who buys the club as long as the Goblins are no longer able to treat us like their cash cow to abuse at will!
I like that you're trying to be optimistic but I think both of these are best-case options in either case (maybe except some of the Qatar fan-fiction).

I think the likeliest scenario is Ratcliffe winning, keeping the team in place for the summer because it's too late to change now and spending about what we were going to spend i.e. 200-250m with the same targets.

Ratcliffe has explicitly said he wants organic growth and that's generally a synonym for slow when it comes to established businesses.
 

simmee

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Wow, we have now seen this thread morph wannabe corporate finance guys with transfer muppet scenario guys. If we can just combine that with the Swedish fake M&A expert I can finally reach nirvana.
 

Woziak

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First of all, how is Ratcliffe playing "dirty"?

Secondly, if hypothetically Jassim wanted to keep the amount of his last bid a secret from everyone, when in reality it actually beats Ratcliffe's offer, what is stopping the Glazers from telling the latter: This is Qatar's last bid, better it or we are going with them.

So even if this was the case, which I doubt, there's 0 incentive for the Glazers not to let Ratcliffe and Ineos find out about it, because they'd likely just better it. Negotiations seem pretty advanced on the Ineos side, so they very likely won't back out now, even if they had to increase their offer, but it probably won't even come to that.

All these imaginary scenarios made up by the Qatari stans seem to be a form of coping mechanism to me.
Read my posts I don’t care who wins if anything I probably favour marginally SJR I’ve been consistent throughout so jumping on one post to form an opinion is pretty standard on how the selling of the club has affected united fans and their ability to finally pipe up with a considered, oops make that a non considered opinion, we just need to hate don’t we, I don’t hate, and I don’t care who owns the club going forward providing it’s not the Glazers!
 

Woziak

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I like that you're trying to be optimistic but I think both of these are best-case options in either case (maybe except some of the Qatar fan-fiction).

I think the likeliest scenario is Ratcliffe winning, keeping the team in place for the summer because it's too late to change now and spending about what we were going to spend i.e. 200-250m with the same targets.

Ratcliffe has explicitly said he wants organic growth and that's generally a synonym for slow when it comes to established businesses.
Yep but he needs a big win this summer first out the door to move attention from keeping the Glazers and his poor performance of owning Nice into showing a confident new improved Man United.
 

Woziak

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Which scenario has the better morale high-ground? :drool:
First of all, how is Ratcliffe playing "dirty"?

Secondly, if hypothetically Jassim wanted to keep the amount of his last bid a secret from everyone, when in reality it actually beats Ratcliffe's offer, what is stopping the Glazers from telling the latter: This is Qatar's last bid, better it or we are going with them.

So even if this was the case, which I doubt, there's 0 incentive for the Glazers not to let Ratcliffe and Ineos find out about it, because they'd likely just better it. Negotiations seem pretty advanced on the Ineos side, so they very likely won't back out now, even if they had to increase their offer, but it probably won't even come to that.

All these imaginary scenarios made up by the Qatari stans seem to be a form of coping mechanism to me.
He’s playing Dirty because there is no way he’s keeping the club listed on the NYSE he will move the club to London stock market, he could tell register the club at any point which means any potential future buy out price could result in the Glazers paying capital gains tax on their shares which currently they do not. Kieran Maguire who I do value, also suggested that SJR will not want the club registered on the NYSE, all these are considerations that the Glazers will have to make, I’m sure the lawyers will look at an air tight contracts but I predict that if the Glazers get in bed with SJR, then he will have a very clever clause in the contract that will sting them later on.

Playing dirty, originally no one considered either of SJ or SJR keeping any Glazers on, let me be clear here I hope if SJR wins he f…ks them proverbially up the A.S later on, nothing would give me greater joy !
 

ShinjiNinja26

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We’re defo going to get news of some sort tomorrow as that’s when Sheikh Jassim has set his own deadline. If news breaks that he’s pulled out of the running then it’s safe to assume the Glazers are going with INEOS or the dreaded minority investment option.
 

Licha M

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Good to hear about the Qatari deadline of tomorrow, they've had enough of this charade of being pissed about endlessly.

Shame these leeching fecks couldn't give the club one iota of respect during all of this, but of course that would be asking for too much.

Why worry about being respectful custodians of the club when there's an opportunity to make 10 times what you borrowed from the bank, instead of the 9.5 you've already been offered.
 

Jinn

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Nah, the deal has already gone through and SJR is the new owner.
The press release from SJ is just to save face and show the public that it was him that walked away and not the Glazers rejecting him.
...I know nothing :wenger:
 

VP89

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I'm in the SJR camp now. This guy giving deadlines after underbidding for the 5th time smells very fishy
 

Mr Smith

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Will Ineos invest substantially whilst the two leeches are still holders of B-class shares? Why undertake the existing debt and take a new loan and still have the 2 cnuts on Board?
Well for one thing, putting forward a bid that keeps Joel and Avram on board gives him an advantage over the Qatari bid, given that's what they want.
 

RopersReturn

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Really hope SJR has one more trick up his sleeve, he can use to massively railroad the Glazer family and take them down once and for all.
 

croadyman

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This is the issue we have with SJR. Until he buys us, then who knows what his plans are. He might have big plans or there might be a few of his supporters who will feel a tad let down.
100% convinced it will be the latter and the rest of us can say well we did try to tell you
 

Marcelinho87

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Good to hear about the Qatari deadline of tomorrow, they've had enough of this charade of being pissed about endlessly.

Shame these leeching fecks couldn't give the club one iota of respect during all of this, but of course that would be asking for too much.

Why worry about being respectful custodians of the club when there's an opportunity to make 10 times what you borrowed from the bank, instead of the 9.5 you've already been offered.
Let's be real here, the Glazers have set a price and Qatar have failed to bring funds to the table... The only ones pissing about are them, coming back with derisory increases in their bid whilst each time still been below the other bid on the table.

They could have simply just rocked up and matched SJRs offer on their own terms and be done with it.
 

Giggsyking

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Even states have limits, no state has paid anything close to this for a sports club.

They could go and buy multiple others for this price.

I genuinely don't believe Qatar/Jassim was ever all that interested, especially at the price the Glazers want, which is absurdly high btw.
They spent 20 plus billions for 30 days Worldcup. Do you think if the Qatari state want to buy united will do it for business?

There is little indication that Jassim's bid is by any mean state backed. People must use their brains to make their own conclusions, not believe whatever the stupid journalists say.
 

Rhyme Animal

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Nonchalantly scoring the winner...
Let's be real here, the Glazers have set a price and Qatar have failed to bring funds to the table... The only ones pissing about are them, coming back with derisory increases in their bid whilst each time still been below the other bid on the table.

They could have simply just rocked up and matched SJRs offer on their own terms and be done with it.
It’s a record breaking bid for an asset that’s been run into the ground.

Newcastle was bought for $418m, Jassim is offering the Glazers more than 6 billion dollars more than that.

This process has been dragged on by Glazer greed, nothing else.
 

ElDiabloRojo

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Woodward didn’t intentionally harm the club, he just didn’t know what he was doing half the time.
He knew what he was doing for his own, and the parasites, financial benefits.

Like the parasites, money is the only motivation, the club can rot and fall behind.
 
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