Club Sale | It’s done!

[Woziak]

You have zero idea whether the Glazers will be allowed to have a say in anything. Zero. Yet you're telling us like it's a foregone conclusion.

In all likelihood they won't have decision-making power.

They will still sit on the board read the room, I’ll come back to you on this comment in 3 months if SJR wins the bid ok

 

[Rood]

Likewise - though I didn’t hear anyone saying they’d stop supporting if Rat won.

But there were plenty saying if Jassim buys the club they’re done.

it's a loud but small minority with that extremist view - there was a poll and IIRC was around 14% says they would stop support, Im sure not all will follow through on it

 

[GoldanoGraham]

You have zero idea whether the Glazers will be allowed to have a say in anything. Zero. Yet you're telling us like it's a foregone conclusion.

In all likelihood they won't have decision-making power.

Exactly right.
Gkazers would have no power - they would just own high value shares - which a couple of years down the line should be worth significantly more. It’s a no brainer for the glazers - zero involvement and all the potential upside for the next couple of years!

 

[Water Melon]

Nah, that's what football is all about, getting over-excited about things. Not sure if anyone said they'd leave if Ratcliffe won though, I think most of those who don't want him would hope he succeeds hugely and proves them wrong.

So lets see if the promises are kept. These posters claim themselves to be the people with principles, so I hope they stick to their guns.

 

[Nou_Camp99]

Wrong way round. Class A are the NYSE shares. Class B are the 10x voting rights Glaser shares.

Of course it is, you're right.
However that changes nothing to what I said to the poster who was asking.

Ultimately the Glazers will be handing over voting power either way. I don't see a way where they can't. Jim isn't going to give them 3bn for them to call the shots.

 

[DOTA]

it's a loud but small minority with that extremist view - there was a poll and IIRC was around 14% says they would stop support, Im sure not all will follow through on it

It's hard to truly know how you'll feel until it happens.

 

[Water Melon]

it's a loud but small minority with that extremist view - there was a poll and IIRC was around 14% says they would stop support, Im sure not all will follow through on it

Having fourteen percent of the posters with the most extreme view on the whole saga out would make the Caf a much more peaceful place.

 

[DOTA]

Having fourteen percent of the posters with the most extreme view on the whole saga out would make the Caf a much more peaceful place.

No dissent under the Qataris!

 

[pocco]

How can somebody buy a share in a business, then complain when somebody else buys up shares, but not all shares? Sounds like a long shot to me. If be interested to see if there is any precedence to this being an issue. Surely it would have a huge knock on effect to stock markets etc?

 

[Nou_Camp99]

Wrong way round. Class A are the NYSE shares. Class B are the 10x voting rights Glaser shares.

This is also unique as it's more often the case that class A shares come with more voting power than class B typically in the business world.

However in this instance that's not the case. It's the Class B ones that do.

 

[Water Melon]

No dissent under the Qataris!

I am yet to see a poster who suggested they would be done with Club if Ratcliffe wins. If there is any, hope they keep their promise too.

 

[Dr. Dwayne]

How can somebody buy a share in a business, then complain when somebody else buys up shares, but not all shares? Sounds like a long shot to me. If be interested to see if there is any precedence to this being an issue. Surely it would have a huge knock on effect to stock markets etc?

Especially shares that are essentially a vanity item meant for fans and have almost no voting power at the AGM and pay a scant dividend.

 

[Water Melon]

Especially shares that are essentially a vanity item meant for fans and have almost no voting power at the AGM and pay a scant dividend.

Have you seen how many A class shares the Glazers themselves own?

 

[dacore]

Glazers are extremely lucky they've got most media helping them (since they support SJR in almost every case). Otherwise maybe SJ could have got hold of the club much cheaper and instead invested all those millions into the club instead of into the pockets of the cnuts.

 

[DOTA]

I am yet to see a poster who suggested they would be done with Club if Ratcliffe wins. If there is any, hope they keep their promise too.

I have seen a few but they are indeed rare and to be honest in most cases I'm not sure they would've stood by it even the next day let alone now.

 

[Dr. Dwayne]

Have you seen how many A class shares the Glazers themselves own?

Yeah they own millions but for them it's compensated by their class B holdings. Anyone that owns class A shares in United and isn't a fan of the club...well, you have to ask what are they thinking? No voting power, barely any dividend, what's the point of that investment?

 

[VeevaVee]

This is also unique as it's more often the case that class A shares come with more voting power than class B typically in the business world.

However in this instance that's not the case. It's the Class B ones that do.

That’s interesting. Appreciate the insight

 

[red thru&thru]

All of them as I believe they had it written into an agreement that any shares sold to non Glazers would immediately become class B shares.

If you are going where you think you are with this then there's no way any bidder for the club is handing over several billion without full voting power. You'd have to be a raving lunatic to do that so most likely a new agreement would be drawn up if the Glazers stayed in some capacity as minority shareholders.

So they would definitely lose voting power under Sir Jim. He hasn't become Britain's richest man by handing over his money for no say.

Glazers own around 4.5% of A class shares, which only Sheikh Jassim is looking to buy. So, the Glazers would get more money, even though he values the shares less than SJR!

 

[Rood]

Yeah they own millions but for them it's compensated by their class B holdings. Anyone that owns class A shares in United and isn't a fan of the club...well, you have to ask what are they thinking? No voting power, barely any dividend, what's the point of that investment?

Several hedge funds and serious investors got involved - with it listed in USA rather than UK I don't think that many fans bought shares, especially because it was initially seen as giving money to the Glazers

I guess they expected the price to rise as the value of the club rose - in the end the small size of the float meant that the shares never did much

 

[Pexbo]

How can somebody buy a share in a business, then complain when somebody else buys up shares, but not all shares? Sounds like a long shot to me. If be interested to see if there is any precedence to this being an issue. Surely it would have a huge knock on effect to stock markets etc?

I think the point is that the Glazers are the directors of the company and therefore have a duty to act in the best interests of the shareholders.

They have an offer on the table where all shareholders will get a premium price for their shares and get a big pay day and instead the Glazers might act in their own best interests and against the interests of other shareholders and accept a deal that excludes all shares that are not owned by the Glazers.

It might sound like nothing because it’s a bit of a penny stock in reality but some serious funds own shares for this eventuality and it could cost them tens if not hundreds of millions of dollars so it’s understandable if they are looking to sue the Glazers.

 

[Nou_Camp99]

Glazers own around 4.5% of A class shares, which only Sheikh Jassim is looking to buy. So, the Glazers would get more money, even though he values the shares less than SJR!

Yeah I got them the other way around as explained above.

Class A typically are worth more voting wise but in this case they aren't.

But the point still stands. The INEOS bid is said to value the club slightly higher. It's not by that much but it's still bigger.

 

[united_99]

If Qatar buy us it is a state bid. Otherwise when I see what other PL clubs cost or what Leeds are being sold for Jassim could easily buy another PL or championship club which would be much cheaper.
If he is prepared to pay around 5 billion because he only wants the biggest club in the country then it can only be a state bid as he / his dad are not rich enough for such a huge investment.

 

[Dr. Dwayne]

Several hedge funds and serious investors got involved - with it listed in USA rather than UK I don't think that many fans bought shares, especially because it was initially seen as giving money to the Glazers

I guess they expected the price to rise as the value of the club rose - in the end the small size of the float meant that the shares never did much

Yeah that's possible. I take a more traditional view of owning shares for the dividend and growth potential. These days most people take a day trading view and are trying to hit the jackpot through sudden jumps in market value. Thing is with the United shares this is the first time that might happen so I have to question why they went in so heavily at the IPO?

That said, though, I think I read that one of the large institutional investors is actually a fan.

 

[Rado_N]

If Qatar buy us it is a state bid. Otherwise when I see what other PL clubs cost or what Leeds are being sold for Jassim could easily buy another PL or championship club which would be much cheaper.
If he is prepared to pay around 5 billion because he only wants the biggest club in the country then it can only be a state bid as he / his dad are not rich enough for such a huge investment.

Woah, really? I can’t believe this hasn’t been raised before, that seems significant.

 

[wolvored]

Dont know if this has already been reported but Goldbridge reporting that the other 31% will take rat and glazers to court if they aint offered the same deal on their shares.

 

[united_99]

Woah, really? I can’t believe this hasn’t been raised before, that seems significant.

Well there have been enough posters still claiming yesterday and today that it is not a state bid.

 

[Water Melon]

If Qatar buy us it is a state bid. Otherwise when I see what other PL clubs cost or what Leeds are being sold for Jassim could easily buy another PL or championship club which would be much cheaper.
If he is prepared to pay around 5 billion because he only wants the biggest club in the country then it can only be a state bid as he / his dad are not rich enough for such a huge investment.

SJ can easily get a loan from a Qatari financial institution. Ineos can not buy the Club without a loan despite having a huge turnover. They are going to borrow. So, I do not see what your point is.

 

[AlexUTD]

Dont know if this has already been reported but Goldbridge reporting that the other 31% will take rat and glazers to court if they aint offered the same deal on their shares.

Well if Brent says so

 

[united_99]

SJ can easily get a loan from a Qatari financial institution. Ineos can not buy the Club without a loan having a huge turnover. They are going to borrow. So, I do not see what your point is.

My point is that it is a state bid.

 

[Water Melon]

My point is that it is a state bid.

No.

 

[Rood]

It's hard to truly know how you'll feel until it happens.

Many talked about boycott when the Glazers first came, some followed through with FCUM.
Others refused to go to OT and became armchair fans, lots of them eventually returned though when it became clear that the Glazers weren't leaving anytime soon.

Personally I can't think of any realistic ownership option that would cause me to stop my support of my football club.

 

[united_99]

No.

Sure, whatever makes you happy.

 

[Water Melon]

We are not being bought by a state of Qatar nor by any governmental organization of Qatar.

 

[Dr. Dwayne]

I think the point is that the Glazers are the directors of the company and therefore have a duty to act in the best interests of the shareholders.

They have an offer on the table where all shareholders will get a premium price for their shares and get a big pay day and instead the Glazers might act in their own best interests and against the interests of other shareholders and accept a deal that excludes all shares that are not owned by the Glazers.

It might sound like nothing because it’s a bit of a penny stock in reality but some serious funds own shares for this eventuality and it could cost them tens if not hundreds of millions of dollars so it’s understandable if they are looking to sue the Glazers.

I think they'd have to prove harm and the likely result of the INEOS bid will be the class A share price returning to it's average and the club going on as usual. Might be a tough one.

 

[Water Melon]

Sure, whatever makes you happy.

Likewise.

 

[Ish]

How can somebody buy a share in a business, then complain when somebody else buys up shares, but not all shares? Sounds like a long shot to me. If be interested to see if there is any precedence to this being an issue. Surely it would have a huge knock on effect to stock markets etc?

Board having a fiduciary duty to act in the best interest of all shareholders, protection for minority shareholders are also legislated and quite common in lawsuits etc etc. so there could be precedent or at least grounds for it if the minority shareholders feel they’ve been done in.

Not sure around cases specifically in the Cayman Islands.

 

[RedDevilQuebecois]

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the article was posted but ignored. This could be a problem for Jim.

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Get fecked, Glazers. They thought they could sneak one through, but they got caught red-handed big time.

 

[JPRouve]

Woah, really? I can’t believe this hasn’t been raised before, that seems significant.

To be fair it is. Finally someone managed to put their hands on the Sheikh's assets hidden all around the world.

 

[strandty]

Dont know if this has already been reported but Goldbridge reporting that the other 31% will take rat and glazers to court if they aint offered the same deal on their shares.

It’s been said in here in a few tweets like below

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[Pexbo]

I think they'd have to prove harm and the likely result of the INEOS bid will be the class A share price returning to it's average and the club going on as usual. Might be a tough one.

If they’ve got an offer of $35 per share which includes all A class shares and they end up taking an offer of $38 per share which does not include non-Glazer shares which proceed to return back to $13-14 per share then they surely have a case.

They’re acting against the best interests of their shareholders, as directors of the company you’d think they would be liable.